Press kit

Insurance is about risk assessment. But you saw rapid changes in the world of work, technology, and mobility, that weren’t properly addressed by the industry. What made you enter the fray?
I studied Information Sciences, so data and knowledge management has been my passion for a long time. My interest in how personal and behavioral data can benefit people in digital services exploded in 2014 when I did my first startup run. We worked on connecting satellite data with personal IoT data. 

When I met Kalle we discussed how human-centric data and emerging tech are changing the way digital services should be built. We chose insurance as even well-behaving customers are often treated unfairly. It may be one the most data-rich industries, but easily-accessible behavioral data is rarely used to benefit the customer. 

In 2018, there was a huge problem with ride-hailing insurance. Insurers jacked up their margins 5x-20x compared to regular insurance, claiming that taxi service was very risky. Our human-centric logic clicked well here. We agreed to become the middleman that aggregates data on how much and how the car is used, thus being fair to drivers and insurers alike.

This model can be applied in other places where technology coupled with critical data can make insurance more flexible and fair.

How have work and mobility changed in the last five years?
Covid accelerated the trend for more flexible hours, freelancing, and the nomadic lifestyle that had begun earlier. Companies that had said it was impossible to let people work from home somehow made it happen. Another factor is a generational change, with Millennials and Gen Z now accounting for more than half of the workforce. 

In terms of mobility, municipalities across Europe had a goal to cut CO2 by reducing the number of cars. For example, Stockholm seeks to push all vehicular traffic out of the city center by 2025. This is a huge opportunity for the micromobility sector. Not just for private mobility, but for business transport, from mail delivery to garbage disposal.

Cachet is in a great position to become the enabler to build new and smarter ways of insuring the entire platform/sharing economy.

What do you know now that you wish you’d have known five years ago?
Even if our math checks out, the appetite for risk and innovation is low among large insurers, despite beautiful slogans. Regulations, too, are built to maintain the status quo. 

The second challenge has been to build a team that can keep up with or even outrun the founders. Today, we’re largely there, even if we still need to fill a few positions. 

If you could swap roles with a colleague for a day, who would it be and why?
Probably with Kalle, my cofounder, to better understand his challenges. This would help us run even faster as a team. 

What´s your advice for newcomers who are considering joining Cachet?
You’d be joining a team that is both caring and competitive (especially in sports). We’re seeking people who are great at what they do, but curious and eager to keep learning and developing.

Early on I was told that fintech is for kids, insurtech is for grownups. Many theories that work well in SaaS or regular ecommerce may not fit well in this space.

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How many insurance policies do you have and which one is the most important or unusual?
My favourite is still City Rider… as I travel a lot and prefer to use micro-mobility I feel safe, if anything happens with whichever city in Europe. But otherwise I have 7 policies. 

What type of vehicle do you use most often to commute? And how many kilometers do you clock each week/month/year?
Probably the car, since I drive to Muhu island during weekends. But on weekdays I tend to rely on my bike or public transport. Exact kilometers I don´t know, but on average 250km a month.

Which type of vehicle do you love to use the most? 
Bicycle. I have a hybrid Ampler bike that I bought when I sold my personal car. 

Has your vehicle ever had a nickname? 
My first car was a frog-green Ford Ka, so you can imagine the nick name: Froggy. These days I don´t have any more nicknames for our vehicles. 

What’s your go-to happy song while commuting?
I love to listen to podcasts when cycling, not music. But when I drive a car, I can sing along to music very loudly. A couple of artists that come to mind are Master KG (Jerusalema Remix feat. Burna Boy and Nomcebo), and Stromae.

What brought you to Cachet?
It was unexpected but, looking back, inevitable. After 20 years at big corporations I was ready for change and only needed the right stimulus. Our paths with Cachet crossed when I was Head of Affinity at a big brokerage firm. I was seeking an insurtech partner who could provide innovative usage-based insurance solutions. I saw how insurtech operates, how innovative and dynamic it is, and what a huge data and digital arsenal it has. When I was invited to join, I hesitated only briefly. I knew we could bring new value to the market.

What gets you up in the morning? You have a grand job title and a lot of responsibilities, but what’s your broader mission?
I’m a great fan of insurance. I know how it sounds. Most people think it is boring but it’s quite the opposite. Insurance is fascinating and mission driven. It is about caring which is close to every woman’s heart. However, insurance has been “broken” over time. I want to help make it more customer-oriented, inclusive (instead of exclusive), easy, transparent, trustful, and… lovable.

How have work and mobility changed in the last five years in Poland?
Dramatically. Change was triggered by technology advancements and society’s digitalisation, and accelerated by the pandemic. There are over 300,000 freelancers. This number grows each year and freelancers become more diversified among different types of blue and white-collar workers. Among them, the use of digital platforms is now the norm. New mobility has also gained momentum and become more diverse. Platforms like Uber, Bolt, FreeNow, and iTaxi account for more than half of the Polish taxi market. The app-taxi business has almost 20 million users and is worth over PLN 2.5 billion. Micromobility has also exploded. There are now more than 100,000 shared bikes and scooters, with double-digit growth year on year. Also, the last-mile delivery market has grown exponentially, mainly due to the pandemic. All micromobility services, as well as ride-hailing, operate on digital platforms and use data, which is a natural environment for Cachet.

If you could swap roles with a colleague for a day, who would it be and why?
At a startup you must be ready for such swaps anyway. For example, I’ve stepped in as a Cachet telesales consultant. I like to hear the voices of our clients, to know what concerns they have, what they like, and what drives them crazy. Everything we do should solve real people’s problems. Innovation for the sake of innovation misses the point.

What´s your advice for someone who considers joining Cachet?
Do not hesitate too long. Everyone who is passionate about insurance, data, and technology; and who wants to improve the insurance industry will find plenty of development opportunities at Cachet.

How many insurance policies do you have?
I have motor, home, and assistance insurance. I also buy travel insurance whenever I go abroad. They’re all important because you never know what could be lurking around the corner.

What type of vehicle do you mostly commute with?
I mainly drive (20,000 km a year) and ride my bike.

Which type of vehicle do you love the most for commuting?
Both car and bike have their advantages, depending on the situation. Weather has a lot to do with it.

Has your vehicle ever had a nickname?
No.

What’s your go-to happy song while commuting?
“Driving home for Christmas” when I’m… driving home for Christmas.

Insurance is about risk assessment. But you saw rapid changes in the world of work, technology, and mobility, that weren’t properly addressed by the industry. What made you enter the fray?
Insurance companies treated freelance workers unfairly.

How have work and mobility changed in the last five years?
 I guess the process has just started. There’s a huge potential in building cities for people and not for cars. Most car-sharing and micromobility companies have boomed in the last five years and we see constant user growth. It means there’s fewer people using their personal cars.

What do you know now that you wish you’d have known five years ago?
How hard it is in combination with a massive reward you get from the happy faces of your colleagues. 

If you could swap roles with a colleague for a day, who would it be and why? 
Someone from the development team. I could find out about all the other people’s jobs, but I know nothing about coding. I’d like to change that. 

What´s your advice for newcomers who are considering joining Cachet? 
If you want to work with a team that really wants to change the landscape for platform economy and build the insurance solutions enabling the change- join Cachet!

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How many insurance policies do you have? Which one do you consider the most important or unusual?
My only policies are home insurance and Cachet’s city rider. I don’t have a car so no need for insurance either. I guess I’m also the best customer in terms of not using my travel insurance that comes with my credit cards.

What type of vehicle do you use most often to commute? And how many kilometers do you clock each year? 
It’s a combination of a family car and car-sharing platforms. And a lot of bike and kick scooter rides. 

Which type of vehicle do you love commuting the most? 
I love cycling in Tallinn. When travelling I now use rental bikes and kick scooters to commute, instead of ride-hailing cars. 

Has your vehicle ever had a nickname?
In 2005-2007 when I worked at the Estonian Reform Party, our office car was called “ENN”.

What’s your go-to happy song while commuting? 
They change from time to time, but I love “No Eyes” by Claptone, “Ocean Drive” by Duke Dumont, and “Help Me Lose my Mind” by Disclosure feat. London Grammar.