Stark Group is a start-up incubator and InsurTech lab that aims at disrupting the insurance industry. Since 2014, it has been mandated by numerous insurance companies, banks, and financial advisory firms to work with them and create better value perception for greater willingness to pay. In early 2016, DBS Bank contacted Matthias de Ferrieres, the founder & CEO of stark Group, and asked him to partner with them to develop their motor comparator. They gave him 3 months to design, develop and deploy. They contacted me in March, and they were live in early September 2016. Till today, he still running their Motor insurance aggregator. This mega-contract transformed Stark Group and made it a credible player in the digital insurance space. In 2017, another great milestone was reached as he has been contracted to develop 6 life insurance products for a major insurer in Thailand. Stark Group became an 11 staff insurance-focused startup.
Stark Group changed in 2019 into an incubator. They keep their clients and maintain their platform, yet they invest in ideas and concepts and do not hesitate to design their platform. Since 2015, Star Group has generated more than $1.5M worth of dividends. Yet since 2019, profitability and revenue generation are not the main objective. Stark Group aims at being an innovator and ideator thus its KPIs are very different.
The founder Matthias de Ferrieres believes in two main principles to make a company a success. Of course, besides some lucks and trusts from its clients and partners.
- The first is the knowledge, experience, and expertise in the field you are in. Matthias and his team have been in the insurance industry for 20 years. He has a competitive advantage compared to any insurtech entering the market and knowing the digital world only.
- The second is the business model. Stark Group invests only in the profitable business model. Rather than looking at the potentials, the future revenue, the growth, it looks at the hardcore finance: Gross and Net margin, cash flow generation. Most VCs or PE bet on someone, a team, a concept. Stark Group design something that will make little money maybe but money for sure.
They developed Life insurance products, insurance aggregators, Medical Third-Party Administrators, Insurance credit card builders, Distribution Agency platforms, KYC, FNA, Financial Planning, and insurance app. More recently they work on the Home insurance concept and insurance embedded in the smartwatch. They are trying to develop t.me a smartwatch with no data subscription, unlimited data once you have bought it. They believe there is an opportunity here. Yet the regulation is complex, and they are trying to crack it still today.