About this episode
Wayne tested flight insurance over a single weekend with a WordPress site and Google ads. When people tried to pay, he showed a fake error message. The result: 15.9% conversion. That validation led to Sure, now powering insurance for Tesla, Toyota, and MasterCard. But the journey was brutal. Wayne worked solo for a year, burning through savings in San Francisco. Flew to South Africa for 7 weeks to land his first insurance partner. The real breakthrough came 4 years later, in 2019, when Elon tweeted about Tesla insurance—instant rocket ship growth. Today Sure is the rails for embedded insurance, like Visa for credit cards.They raised $120M but haven't needed money since 2021 because they've been profitable since their Series B. Why You Should Listen:How to validate an entire business in a weekend. Why he worked solo for a year before raising money or hiring anyone.The exact playbook for pivoting while keeping your old product alive.How one Elon Musk tweet created instant product-market fit.Keywords:startup podcast, startup podcast for founders, Sure, Wayne Slavin, embedded insurance, InsurTech, product validation, bootstrap to profitable, Tesla insurance, B2B pivot00:00:00 Intro00:01:48 The flight to Vegas that sparked a $120M insurance company00:03:03 Building a fake insurance product in one weekend to test demand00:11:00 Working solo for a year while burning through savings00:14:43 Flying to South Africa for 7 weeks to land first insurance partner00:19:58 Convincing 5 friends to quit their jobs00:27:56 Pivoting from mobile app to embedded insurance00:46:03 Elon's tweet creates rocket ship growth overnightSend me a message to let me know what you think!
