Sergey Litvinenko, CEO & Co-Founder of Koop Insurance: $7 Million Raised to Build the Future of Insurance for Tech Companies

Welcome to another episode of Category Visionaries — the show that explores GTM stories from tech's most innovative B2B founders. In today's episode, we're speaking with Sergey Litvinenko, CEO & Co-Founder at Koop Insurance, an insurance technology company that has raised $7 Million in funding.

 

Here are the most interesting points from our conversation:

 

• Preventive Insurance Model: Koop Insurance distinguishes itself by offering a preventive insurance model tailored for the tech sector, where traditional insurance falls short due to a lack of historical data for new technologies.
• Founding Inspiration: The initial idea for Koop emerged from the challenges faced in the autonomous vehicle space, which led to the realization that these challenges were prevalent across the tech sector, prompting a pivot to insurance.
• Aha Moments: Sergey describes multiple "aha" moments in Koop’s journey, such as shifting from an API for autonomous vehicles to an insurance model when realizing the existing market’s inefficiencies.
• Growth and Scaling: Discussing the growth from a bootstrap startup in Pittsburgh to a pre-series A stage company in New York with nearly 20 full-time employees.
• Trust and Branding: Emphasizing the importance of trust in the insure-tech space, Koop focuses on building a brand that combines expertise, reliability, and partnership with giants like Munich Re and Lloyd’s of London.
• Market Strategy and Evolution: Koop’s strategy involves not selling insurance in the conventional sense but offering compliance and risk management as part of a comprehensive package to tech companies.

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