Sondre Rasch, CEO of SafetyWing, details the company's early pandemic churn and subsequent rebound after adding COVID coverage.
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“First, it was very bad because a third of our customers evacuated and we lost them. So how a huge drop. And then, but then come August in 20, 20, we had this massive growth three X in five months. Due to introducing COVID coverage”
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More from Sondre Rasch
Insight
Rasch: US medical provider networks drive the majority of health insurance costs
“The medical provider networks in the US charge a very high price and internationally medical provider networks have chart have no price, but it's like a majority of the cost of insurance.”
Sondre RaschApr 10, 2023▶ 5:45How SafetyWing Doubled ARR to $24m and Closed Series B at $195m Post Money Valuation
Insight
Rasch: Traditional local social safety nets fail cross-border remote workers
“The Internet labor market, like. You know, it's global, goes across borders, but all the infrastructure that supports the labor market, it kind of works as if it's local. And so a lot of the infrastructure does, just doesn't work, right? So it's like, if you'r…”
Sondre RaschApr 10, 2023▶ 2:17How SafetyWing Doubled ARR to $24m and Closed Series B at $195m Post Money Valuation
AssertionNot checkable as stated
SafetyWing generates roughly $2 million in monthly revenue
“Like twice as much. Yeah.”
Sondre RaschApr 10, 2023▶ 9:52How SafetyWing Doubled ARR to $24m and Closed Series B at $195m Post Money Valuation
Disclosure
Rasch: SafetyWing closed its Series B at a $195M post-money valuation
“I think the like post when valuation was like one 95.”
Sondre RaschApr 10, 2023▶ 13:00How SafetyWing Doubled ARR to $24m and Closed Series B at $195m Post Money Valuation
AssertionSupported
SafetyWing launched B2B insurance dashboard in 2020 after 100 inbound requests
“A lot of companies reached out and said, Hey, this nomad thing, the global health insurance, that looks cool. I want to buy that for my global team. And then we said, after we got that request a hundred times, we said we got to build it. So we made a dashboard…”
Sondre RaschApr 10, 2023▶ 4:39How SafetyWing Doubled ARR to $24m and Closed Series B at $195m Post Money Valuation
Disclosure
SafetyWing is developing a direct-payment card for medical purchases
“We are making later this year hopefully we'll be ready, something called like a save to win card so that you can pay then at the point of purchase with the save to win card. So even if you're not referred there by us you don't have to pay out of pocket”
Sondre RaschApr 10, 2023▶ 8:13How SafetyWing Doubled ARR to $24m and Closed Series B at $195m Post Money Valuation
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