Buying life insurance can be stressful. Anyone who tries to navigate the complex world of deductibles, term vs. whole life, and other technicalities quickly realizes that finding the best policy for them can be a challenge. Greg Rozdeba, founder of Dundas Life, joins Startup Savants to discuss launching his life insurance startup that aims to help underinsured individuals whose needs other insurance brokers and banks have failed to address.
- Startup Savants is a business podcast that tells the stories behind up-and-coming startups.
- Greg Rozdeba, co-founder and president of the Canadian startup Dundas Life, joins Startup Savants to discuss launching his life insurance startup.
- Dundas Life provides life insurance coverage that aims to make life insurance both accessible and affordable.
Addressing a Need
Rozdeba was a sales director specializing in insurtech and wealth tech firms who has consulted multiple seven-figure fintech businesses. He previously served as director of sales at a fintech firm that he took from having no product to raising over $7 million in funding and building out its sales efforts.
During his interview with Startup Savants, he said he saw a need to make the Canadian insurance market more transparent and easier to navigate. “When we kicked this off, we realized that in the life insurance space in Canada, there wasn’t an easy way to find the right product,” he said. “There’s some organizations [in which] your cousin is incentivized to sell you something. There are other organizations that sell you a specific product because they’re basically told to. We wanted to create a place where people can just come get reasonable advice and get the product that fits their situation.”
Rozdeba also said he wanted to simplify the paperwork required by the Canadian government. “Our reasoning behind the firm was that if we build out the digital back office to a certain degree, then not only can we facilitate the transaction person to person, but we can also take the conventional paperwork and send it through much faster,” he said during his interview.
Creating a Better Insurance Industry
In his interview with Startup Savants, Rozdeba explained that Dundas Life is an insurance brokerage with a difference: It has built software that templitizes and automates some of the life insurance application process, while also making life insurance more personalized. In other words, the company has developed a hybrid distribution model that combines a direct-to-consumer approach with tech–enabled insurance sales.
Rozdeba said this allows customers to shop for life insurance and related products like health and disability insurance from their homes. Using an online calculator, customers can compare life insurance quotes from top carriers with full pricing transparency. They can select and apply for a policy online or contact a licensed advisor for more personalized support.
Hear more about Rozdeba’s experiences founding a company that seeks to disrupt the moribund life insurance industry and the lessons he has learned along the way, like how to scale and fund a growing business and find your first clients.
Startup Savants Podcast
The Startup Savants podcast is a business podcast created by The Truly Useful Information Company (TRUiC). It brings listeners the stories behind startups and their founders who are building and scaling their companies.
The Startup Savants podcast is hosted by Ethan, an entrepreneur, and Annaka, a branding expert. These disparate viewpoints provide listeners with key business insights and a well-rounded perspective on the startup ecosystem.
Hear from a variety of real startup founders from around the globe and with varying backgrounds, making their startup idea a reality. Learn from experts sharing their industry knowledge on venture capital, securing funding, and more on the Startup Savants podcast.
Final Thoughts
Rozdeba’s interview on Startup Savants shows listeners how he used his skills from working in sales to disrupt the insurance industry and create a better way to buy life insurance.
You can find the Startup Savants podcast on Apple Podcasts, Spotify, or wherever you listen to podcasts.
