Welcome to the first official story of PolicyDock.com, we’re excited to share our journey of building our Insurtech and hope you will find our insights helpful and inspiring. So let’s kick this off with a Q&A.
Who are the founders?
PolicyDock is founded by two serial entrepreneurs, Roger Ying, our CEO and Danny Yang, our CTO (yes, I know what you are thinking — ‘Yin & Yang’, jokes aside we do believe in balance =)).
Roger upon graduating with a masters from Stanford University wanted to build a bank in China (crazy… right?), and became one of the first fintechs in peer-to-peer lending with Pandai, along the way he grew the company to 5 cities and 200+ staff, invited to speak globally on Fintech in China and made numerous media appearances, not to mention starting the online platform for CreditEase, which was the first online lending platform to go public on the NYSE. He also deeply cares about social impact and how technology can improve our lives.
Danny has previously founded several big data, AI and blockchain start-ups, including starting the largest cryptocurrency exchange in Taiwan, an AI startup which indexed and analyzed over 100M legal records, and a blockchain analytics company that was acquired in 2018. He has authored numerous patents on computer vision machine learning. He loves data and rock climbing, and holds a PhD in Computer Science from Stanford University.
Danny and Roger met in Beijing over 10 years ago (before the days of Wechat and Didi, ride hailing app, made life so much easier and only the brave dared go) while each were doing their respective start-ups, they kept in touch ever since.
What does PolicyDock actually do?
Well, first, our vision is to automate insurance. Sounds grand, we know, but we sincerely believe the starting step to get there will be democratizing, simplifying and streamlining cloud adoption in the insurance industry. Little well-known secret, insurance is the LAST of major industries to move systems to the cloud.
Yup, insurance is behind even healthcare — check how small are those yellow dots!
Ever wondered why dealing with your insurer or broker is a painful experience of e-mail chains of manually signed PDF’s when it comes to claims or getting a quote — let’s start there. PolicyDock provides a turnkey solution to digitize any insurance product (more on this to come in future posts — trust us) in a matter of days on scalable micro-service cloud architecture.
Why are we in insuretech?
In short, the co-founders of PolicyDock are serial entrepreneurs, we love solving problems. Moreover, we believe the biggest value is unleashed to end clients and all stakeholders when industries are democratized. Also, our prior experiences have been in Fintech, big data AI, and blockchain, the past 10 years have been an explosion of innovation and new technology adoption, when Roger broke his leg at the end of 2018 and not only went through the physical pain but also the mental pain of coordinating claims with his insurer (man, printing signing scanning pdf’s, photo attachment uploads, long long email chains for months) he began to wonder why hasn’t insurance advanced at all, where’s my user friendly app to do all this, why do I have to keep filling out the same form… This is the year 2020, not 1995 — get our point.
We’ve both seen how big data can revolutionize industries especially in financial services when it comes to developing highly personalized products, and hence, we simply believe the same will be true for insurance.
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