Working in a startup enables you to contribute to numerous aspects of the business. It means making a difference every day, especially when you’re a part of a relatively small team. It also means feeling how the world changes because of your efforts, one customer at a time.
We had a chat with one of the OG Digital Risks’ customers, Merlie Calvert, whose business we provided with comprehensive insurance right from the start. As the founder of Farillio, a legal tech startup, Merlie knew how important it was to cover her company in order to avoid unnecessary business risks.
Farillio is a legal online platform that provides small businesses and startups alike with a collection of templates and guides. Everything from employment contracts to expert legal advice is combined in one user-friendly web platform and is provided to startup founders in an easy step-by-step way. The platform was launched to help entrepreneurs with the time-consuming but necessary paperwork and strip away the pains they encounter when starting their ventures.
“There's something amazing about talking to somebody who really gets your business, asks the right questions, doesn't waste your time but really makes the effort to understand you as a business”.
Insurance, I think, for many of us, is a hygiene factor - you know you've got to have it, you know you have to pay for it. I think some people resent it, but understand why.
I think, what Digital Risks does is stop you from resenting it quite so much, because you really do understand what you're getting and that you're getting it from people who understand your business.
It wasn't the first [insurance provider] we looked at. We certainly looked around but none of them seemed to talk the same language as us, and I think again, as a tech business, you know there are particular business risks, that you will be facing, that might not be run-of-the-mill.
A lot of insurers don't use plain English, and you don't really understand what you're buying. It's very difficult to compare like for like. That was one of the things that frustrated me at the beginning - I couldn't tell whether something that sounded the same and was priced significantly different was a more competitive price deal, but with the same cover, or had something removed from it that meant I would be paying less, but was taking more of a risk.
We buy a range of products through Digital Risks, and again, we trust them to buy the right products and to help us determine what we need at a particular time. We definitely buy more insurance than we did when we first started out, but the team have hand-held us through what we need - everything from general liability insurance to the cyber and the data security aspects of our business, right the way through to what you'd expect most businesses to cover.
Where Digital Risks really did differ, - it was very clear to work out what I needed, but I also had somebody to talk to, who could expertly advise me on assumptions that I might’ve been making, that might not have been right.
The person that I spoke to, who is a particularly wonderful brand ambassador for Digital Risks, said to me “Well, you could pay this right now, but you don't really need it at the moment. Let's put a marker in the sand to come back and talk about it in six to twelve months to see where you are". That gave me a lot of confidence, too, because it didn't feel like it was all about just getting money out of a naive startup founder, who wasn't sure. It was very much about "Let's put you in the right shape now. and then we'll grow with you in an appropriate way" and I don't think you get that experience anywhere else, at least, I didn’t.
From the very first conversation I had with Digital Risks I knew I was covered, I knew they were asking the right questions to tease out what I didn't know myself.
And from that point on, I've really not ever worried about insurance. I've not looked back. I've not considered another provider, because everything we needed was there, and we've grown as a business very much hand-in-hand. With the support the Digital Risks gave us.
I don't think there's anything else I would need, I think it ticks the box really well.
Food for thought
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