About us
Insurance fundamentally needed to change. Here’s how it happened.
Assurely founders David Carpentier and Ty Sagalow have a long history of building new insurance based products, catering to new types of customers, and working on the cusp of innovation.
They were innovators at incumbents in their pasts and both realized they were never going to be able to build what they really wanted in that environment.
Ty Sagalow & David Carpentier
Ty Sagalow was a member of the founding team at Lemonade, which was well on its way to becoming the most successful IPO of 2020. Ty had a long history of building new insurance products, the kind that change the world. (He is widely credited with inventing Y2K insurance, cyber insurance, entity cover directors & officers insurance, reputation insurance, collectible authenticity insurance, and intellectual property collateral insurance, just to name a few.)
Meanwhile, David was looking to bring a new model of insurance to the market, one that would customize products for customers, use innovative distribution channels, and enable emerging digital marketplaces to thrive by using insurance as a tool. All three of these would be fueled by the acceleration of technology in insurance and commerce.
When Scout Ventures introduced the need for a new insurance to address the JOBS Act and crowdfunding as a new industry, David realized it was a great space to apply his new model for insurance.
Simultaneously, Ty was recognizing the enormous market potential of crowdfunding and technology’s influence on the private securities sector, strikingly similar to the late 90s when he had the foresight to create cyber insurance. “I have seen this story before,” he said, “and it’s big.”
“I’ve seen this story before… and it’s big.”
- Ty Sagalow
Ty, ever the master mechanic, was the perfect person to create just such a product for this industry.
David and Ty were introduced by a colleague in October of 2017. Their conversation shifted almost immediately to their shared visions for the industry. Ty had the product (and could develop scores more); David had the model to bring them to market. They understood that the industry needed something completely new, that technology would drive it, and that they wanted to create it together. (When you know, you know, right?) They realized their visions were perfectly aligned, and their skills and personalities complemented the others’. At that point, they both claim they saw white doves flying.
Assurely’s a story about two people with strong convictions who saw an opportunity to make a massive difference. They both said let’s do this, right now, together. And that’s how it all began. Here we are.
And the story continues…