National Enterprise Network’s Patron, blip, a tech-enabled and digital-first small business insurance agency, was recently featured on The First 100 podcast. In the episode, blip’s founder, Garry Ross, sat down with serial entrepreneur Hadi Radwan to discuss blip’s innovative approach to insurance and the challenges of acquiring their first 100 paying customers.
Hosted by Radwan, The First 100 podcast focuses on early-stage founders and entrepreneurs, providing them with actionable insights, tactics, and advice on reaching crucial business milestones. The conversation with Garry Ross provided a deep dive into blip’s journey and their unique insurance model.
Here are the top five insights Garry Ross shared during the podcast:
The founding of blip: Garry discussed his inspiration for launching blip after a lengthy career in the corporate world. He aimed to simplify small business insurance by cutting down on high acquisition costs and introducing a profit-sharing model for policyholders.
Business model and profit-sharing: blip treats its policies like shares, enabling policyholders to benefit from the company’s profits. Garry emphasised that this customer-centric approach is designed to make insurance more transparent and rewarding.
Challenges of transitioning from corporate to startup life: Garry reflected on the chaotic shift from a stable corporate role to the startup ecosystem. He highlighted the realities of raising capital, reaching customers directly, and working closely with small businesses.
Marketing strategies: To lower costs and remain competitive, blip avoids expensive brokers and aggregators, relying on direct-to-customer marketing. Garry shared how the company uses social media, organic growth, and modest paid advertising to drive customer acquisition.
Upcoming plans for blip: Garry hinted at exciting future developments for blip, including the launch of new products like professional indemnity insurance. He also mentioned the potential for international expansion, although the immediate focus remains on solidifying their presence in the UK.
Listen to the full episode here: Bootstrapped Ep. 161: The First 100 with Garry Ross, founder of blip.