Conversation
Highlights

• Entrepreneurial Journey and Background: Mark Morissette shares his journey from working in finance and insurance to co-founding Foxquilt, emphasizing the early realization of the need for innovation within the insurance industry.
• Passion for Insurance: Morissette’s transition to insurance was driven by witnessing outdated practices in the industry and a strong desire to introduce technological advancements and customer-centric products, especially focusing on small commercial lines.
• Innovation in Insuretech: Foxquilt’s mission to address the lack of ingenuity in insurance products for small business owners by developing a platform that offers personalized, fair value insurance policies.
• Product Differentiation: Highlighting Foxquilt’s unique approach to insurance, offering a tailored experience for small business owners by enabling them to build their own insurance policy that truly reflects their specific needs.
• Regulatory Challenges and Solutions: Navigating the complex regulatory environment across different states and provinces, emphasizing Foxquilt’s strategic approach to developing a scalable product suited for a North American market.
• Customer Growth and Distribution Channels: Insights into Foxquilt’s growth, customer acquisition, and the strategic use of diverse distribution channels to reach small business owners across various industries.
• Fundraising and Growth Strategy: Morissette discusses the challenges of raising capital in Canada, the importance of intellectual capital, and staying disciplined and focused on building in-house technology and products.
• Advice to New Entrepreneurs: Emphasizing the importance of surrounding oneself with diverse and talented individuals, staying true to one’s vision despite external skepticism, and the significance of a diversified distribution strategy for scalability and risk management.