With the death of his mother in May 2016, Joe was forced to leave his job as an insurance executive in the United States and moved to Australia, where he began building a company in Sydney’s inner west.
He was then told his life savings had been stolen.
Joe’s new business, aurigo, would provide coverage for people with low incomes through the National Health Insurance Scheme (NHIS), which is based in NSW.
He then decided to create a company to help people with more complex needs.
“The idea was that you could build a business that would cover people who were sicker and less able to afford insurance,” he said.
“We wanted to help everyone, so we started to do research on what people really needed and what insurance companies really were, what were the barriers to people being covered.”
After years of searching, Joe and his team found out that there were actually several insurers that were able to cover people with less complex conditions such as autism and mental health issues.
But there was still a problem.
“It was really hard for people to find out how much they could actually afford,” he explained.
“So the idea of building a product that would help people cover themselves, the idea to get people covered for things they couldn’t afford was just a dream.”
He created a series of ads to try and find out what people were saying and how much it would cost.
“I had to spend a lot of time and energy and time and effort to try to figure out how many people actually wanted the product, so I thought that maybe I could make it accessible for as many people as possible,” he recalled.
After some initial success, the business was eventually bought by a company called Insurtech, which acquired it in 2018 for $5.2 million.
It was then that Joe found himself facing the challenge of building an app that could help people across Australia, and the rest of the world, better understand their own needs.
What they needed was a universal app that would work for all Australians, regardless of income.
It had to be accessible to everyone, with the same access to the same tools, the same resources and the same technology to make sure it worked.
“There’s a lot we can learn from our Australian neighbours and we need to be really good at building universal apps,” he continued.
A universal app A universal application is a solution that will work for everyone. “
A universal app is a universal solution.”
A universal app A universal application is a solution that will work for everyone.
This is why it needs to be universal.
Joe says that he and his partners wanted to build the universal app with a universal user interface.
“Our approach is we think the universal is the same everywhere, it’s the same for everyone,” he added.
“In the end, the universal application will have to work for every person, and for every app.”
InsurTech CEO Scott Murray says it’s a challenge to build universal apps that work across different countries and different time periods.
“Every single country and every single market has different needs, different challenges and different priorities, so it’s really important to take a global view,” he told ABC News.
Insultech was founded by a group of four former McKinsey consultants who had worked at McKinsey and the U.S. technology firm SAP, before joining the team at Insur Technology. “
Australia is a global market and we know the market is changing, so the universal approach is really critical.”
Insultech was founded by a group of four former McKinsey consultants who had worked at McKinsey and the U.S. technology firm SAP, before joining the team at Insur Technology.
Joe has been an investor in the company since its inception, with investments totalling more than $7 million.
“At InsulTech, we’ve worked on some very large global markets, and we’re very confident in our ability to deliver universal apps for everyone across Australia,” he revealed.
“As a global company, we have to make a choice as a global business, to deliver the universal.”
Insurance insurance insurance insurance, technology, technology products and services Insultechnology provides insurance products and technologies.
For more information, visit insultech.com.au.
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