In this episode, Elad Schaffer, CEO of Faye, discusses his company’s transformative approach to travel insurance. Faye combines comprehensive travel insurance with real-time problem-solving and financial tools to enhance the traveler experience. Elad shares the company’s journey, starting as a travel assistant concept before pivoting to insurance due to its broader market potential. Faye sets itself apart by integrating proactive trip monitoring, immediate reimbursements via its digital wallet, and a focus on holistic care, such as resolving issues like flight cancellations or lost passports. Elad highlights the challenges of entering a traditionally underserved and legacy-driven market and emphasizes the importance of creating a superior customer experience. He offers advice to entrepreneurs, encouraging perseverance and innovation to navigate and succeed in challenging industries like insurance.
The Podcast
Join Dave Wechsler as he dives into the amazing world of Insurtech. Every week we chat with a stellar panel of industry experts, VCs and special guests. As one of the first Insurtech operators turned investor, Dave leads OMERS Ventures Insurtech portfolio which includes investments in well-known players such as Clearcover, Foresight and Joyn. Dave is an active writer and speaker on emerging technologies in the InsurTech space. He is also a licensed P&C insurance producer.
Buckle up!
