Jindřich Lenz started out as an insurance salesman. Then he led his own team. Then he became product manager. Now, with years of expertise under his belt, he set out to achieve an ambitious goal: Jindřich wants to bring life insurance back to the roots and create a supportive community amongst the insured.
To achieve this, he partnered with David Bystrzycki, former CEO of Homecredit CZ&SK.
In this interview, we’ll find out why the insurance market is boring, how Pulse is going to change that, and why Jindřich costarted his own football team.
Jindřich is the guy with glasses in a darkblue shirt on the right side of the table.
JINDRA, WHENEVER I THINK ABOUT LIFE INSURANCE, I GET BORED!
Me too. However, I don’t find insurance itself boring. For me it’s more the market that’s stagnant and lame. Nothing new ever happens, plus all the marketing claims are based on fear. Insurance as a product requires a wide variety of skills, such as math, statistics, and finance. So I would not say that insurance itself is a boring topic, but that we are dealing with a market that’s lacking innovation and true passion for people.
AND YOU ARE GOING TO CHANGE THAT?
Yes. With Pulse. We aim to do three things.
First, we will calculate our customer’s premium based on their actual lifestyle, not on average market data. This way, being healthy pays off. Folks who lead a healthy lifestyle will get money back at the end of every quarter.
Second, we are creating a real supportive community, based on reciprocity.
This way, people will take care of each other. For instance, if you are hitting your health targets, you can donate your surplus to other members with current and pressing health issues.
But that’s not all…
We will offer each customer a share in the company. This way, every customer is also an owner in the company. We want to make insurance as tangible as possible.
BUT DOESN’T THAT MEAN YOU HAVE TO HOLD ANNUAL SHAREHOLDER MEETING?
That’s exactly what we want to do. We plan to operate on the principle of full transparency. The annual meetings will allow us to share exact statistics of where the money went.
OKAY, BUT WHAT ARE THE ACTUAL METRICS YOU WILL USE AND HOW WILL YOU MEASURE THEM?
We will track our customer’s fitness routine, eating habits and if they participate in preventive measures, like seeing a doctor on a regular basis. In the future, we are planning cooperations with fresh markets. The healthier our customer’s live, the more money they will save either for themselves or for giving it back to the community. Just 60 minutes of sport per week has a huge impact on the body. And it’s really not that much. Even I can pull it off.
AND WHAT SPORTS DO YOU DO?
I play football. However, I am so bad, I had to start my own team in order to play. Now, if I would be insured with Pulse, I would easily hit my movement targets. Also, if I would injure myself to the point where I could not work for 2 months, I would receive moneyno questions asked.
THANKS, JINDŘICH. ALL THE BEST TO YOU AND YOUR PROJECT.
What’s your take in life insurance? Do you think a disruptive, fresh project like Pulse can change a stagnan market an make insurance fun?