Nathan Kamstra, co-founder and CIO of Urbanhire, explains his geographic expansion strategy for tech-enabled insurance brokerage and employee benefits.
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“What I've decided that we should do is focus on the markets that's about to be mature and then go after the other markets as opposed to what most people have done, which is focus on the more mature markets and then try to go into the other regions when it makes sense.”
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More from Nathan Kamstra
Disclosure
Kamstra: Urbanhire will pivot revenue model from SaaS to insurance broking
“So we're building different components, but you know, our focus, we're going to change the revenue model from SAS to one of broken revenue. And therefore we need to build out a broken component benefits administration, and again, focus very specifically on Ind…”
Nathan KamstraNov 15, 2019▶ 12:371574 Why This CIO Believe Indonesia Next Growth Opportunity for Team Insurance and Benefits
Insight
Kamstra: Local regulations keep global HR platforms out of Indonesia
“The thing about these platforms is they're highly, they're very much dictated by local regulation and therefore every company is going to have its own special needs, its own special configurations and its own implementation skills. So Indonesia has not been re…”
Nathan KamstraNov 15, 2019▶ 14:501574 Why This CIO Believe Indonesia Next Growth Opportunity for Team Insurance and Benefits
AssertionNot checkable as stated
Kamstra: Urbanhire has roughly 168 paying clients
“So we've got a 168, I think paying clients.”
Nathan KamstraNov 15, 2019▶ 2:351574 Why This CIO Believe Indonesia Next Growth Opportunity for Team Insurance and Benefits
PredictionNot checkable as stated
Kamstra: Urbanhire will reach about $100,000 monthly revenue by year-end
“No, actually we are at about where by the end of the year, we will be closing about a 100,000 per month.”
Nathan KamstraNov 15, 2019▶ 3:591574 Why This CIO Believe Indonesia Next Growth Opportunity for Team Insurance and Benefits
AssertionNot checkable as stated
Kamstra: Urbanhire generates around $69,000 per month in revenue
“I believe Vincent would have been better for this one, but I believe we're at around 69.”
Nathan KamstraNov 15, 2019▶ 4:081574 Why This CIO Believe Indonesia Next Growth Opportunity for Team Insurance and Benefits
Disclosure
Kamstra: Urbanhire has raised $1.2M in total funding
“So as of today, I want to say that they raised 125, I'm sorry, one point, yeah, 1.2 million.”
Nathan KamstraNov 15, 2019▶ 6:261574 Why This CIO Believe Indonesia Next Growth Opportunity for Team Insurance and Benefits
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