Cat and Dog Insurance — Accident & Health Insurance for Dogs & Cats
The Calingo Team
- Can you tell us about your company and your role in it? How did you come up with the idea?
- What challenges did you face in the early stages of your startup, and how did you overcome them?
- What advice would you give to other startup founders preparing to pitch at SICTIC?
- What impact did the funding from SICTIC investors have on your startup’s growth?
- What stage is your company currently in, and what are your plans for the future?
Can you tell us about your company and your role in it? How did you come up with the idea?
What inspired you to start this business, and what problem are you aiming to solve?
We are three founders — Marlo, Daniel, and I. My name is Anina Lutz, I am Co-Founder and CEO of Calingo Insurance, My main responsibilities include fundraising, managing key stakeholder relationships, and driving sales.
We all shared the same experiences in the traditional insurance sector, recognizing that the market lacked radically digital and innovative insurance products. This realization led us to launch Calingo, aiming to transform the industry with modern, customer-centric solutions. In fact, it was Daniel who pushed to go all in and found Calingo back in 2019/2020, driven by our shared vision to transform the industry with modern, customer-centric and fair solutions.
The problem we are addressing with Calingo is that insurance is often perceived as a necessary evil, and people want to spend as little time on it as possible. In addition, there is a lack of modern and digital product offerings. We believe that insurance must become radically simple to provide maximum customer convenience. This includes fair products, easy distribution channels, and a fully digital offering. And that’s exactly what Calingo does.
Besides the modern pet health insurance, our diversified sales channel approach is key to our success. We partner with a wide range of businesses, including vets, breeders, pet shops, and health insurance companies, to offer personalized insurance at the point of need. This allows us to integrate seamlessly into the customer journey. For instance, new pet owners might receive a customized insurance offer from their vet or buy a puppy from a breeder already covered by our pet insurance. This broad partner network ensures that customers get the protection they need through a variety of convenient channels.
What challenges did you face in the early stages of your startup, and how did you overcome them?
Were there any particular strategies or resources that played a crucial role in your success?
For example, last year, fundraising in tough market conditions was a significant challenge. We overcame this by staying focused on our vision and on what we do best – offering modern pet insurance solutions. Our dedicated team stood out by delivering high-quality documentation and thorough preparation, which helped us attract investors who believed in our mission and saw the huge market potential in our approach.
A major strength is our team, which brings together expertise in insurance, innovation, product development, entrepreneurship, technology as well as veterinary knowledge. Our long-term collaboration and diverse skill sets have been crucial in overcoming challenges during the last years.
We’ve always maintained a strong management discussion culture, which allows us to address issues openly and collaboratively. Combined with a shared vision of revolutionizing the insurance industry, this has helped us build a resilient team, stay agile, and navigate the early obstacles.
What advice would you give to other startup founders preparing to pitch at SICTIC?
Based on your experience, what do you think are the key factors for a successful pitch and securing investment?
My advice to other startup founders preparing to pitch at SICTIC is to prepare thoroughly. Know every detail of your business case as well as the market you’re operating in. Investors want to see that you fully understand your business and the opportunity it presents.
But not less important: be enthusiastic and show how passionate you are about your product or solution.
Lastly, don’t be afraid to ask for support. SICTIC investors are not only there for funding but also for their expertise and network, which can be just as valuable as the investment itself
What impact did the funding from SICTIC investors have on your startup’s growth?
Could you share specific milestones or achievements that were made possible by the investment?
The funding from SICTIC investors had a significant impact on our startup’s growth. It provided us with the resources to initially develop our product and successfully enter the Swiss market. This early support also gave us credibility, which helped us attract additional investors who saw the potential in our business. With SICTIC’s backing, we were able to accelerate our growth and establish a solid foundation for future expansion.
What stage is your company currently in, and what are your plans for the future?
Tell us about your exit strategy, further growth, or exploring new markets and opportunities?
We plan to close a Series A round next year. In the next phase of our growth, we will further differentiate ourselves through additional services in the pet health sector, such as telemedicine, preventive care and community building. These will be also offered as paid services for non-insurance-customers, generating additional revenue while also positively impacting customer retention and portfolio profitability. Additionally, we plan to target similarly underserved but ten times larger markets in the DACH region and France.