Devin: What do you see as your superpower?
David: There’s a part of what I do, taking complex ideas, taking complex things and simplifying them and making them digestible.
“When we looked at investment Crowdfunding, we saw a massive industry that was at its inception,” says Assurely CEO and co-founder David Carpentier, explaining the context for launching the company’s innovative directors and officers insurance coverage for Regulation Crowdfunding offerings.
He continues, “When we take $1.7 trillion of private securities in the United States, that is starting to migrate towards digitization, leveraging technology, the internet to accomplish all of the operations, all the value propositions, all the stuff of why private securities exist, we said, ‘Okay, cool. This is new; this is interesting.’”
He adds, “When new and interesting industries and markets evolve, all the relevant service providers need to adjust to that; insurance doesn’t get a pass on that.”
“Tiger Mark was simply an adjustment of the relevant insurance and protections needed to help enable an industry to grow, flourish and be safer for all the various participants,” he says, naming Assurely’s coverage for crowdfunding campaigns.
As new as the crowdfunding industry is, until Assurely hit the scene, no coverage was available for offerings.
David hastens to add, “The symbol of Tiger Mark, when you see it on an offering page, is not investment advice and should not be treated as such.”
He describes the coverage in lay terms for us, speaking to the investor considering an offering with coverage:
Hey, don't worry about them lying, stealing, cheating. You're investing in somebody online that you might not know. They might be a stranger. Get confident that those things are controlled for. Get excited about the business. Is that a business you want to support? Is that a business that is going to reach your goal as an investor? The rest of it can be neutralized.
As an aside, that is why I was excited to add the coverage to my crowdfunding campaign for The Super Crowd, Inc., a public benefit corporation in which many readers have now invested.
To build Assurely and the Tiger Mark product, David deployed his superpower—his ability to simplify complexity.
AI Podcast Summary
1. David Carpentier speaks about Assurely, a venture-backed insurance company.
2. Assurely provides D&O insurance to crowdfunding issuers.
3. The insurance policy, Tiger Mark, offers comprehensive coverage of investor claims not seen in other policies.
4. Tiger Mark gives investors confidence to invest and protects companies from frivolous lawsuits.
5. David discusses Assurely’s new product, TigerMark, aimed at the crowdfunding industry.
6. TigerMark provides insurance to small businesses against potential lawsuits from failed crowdfunding offerings.
7. It also provides protection to investors concerned about the legitimacy of the investment.
8. David believes that insurance can provide assurance to both sides of the transaction, especially for new, untested ideas.
9. David emphasizes the importance of caring and increasing intimacy with customers to better understand their needs and improve communication.
10. Customers can access TigerMark through their crowdfunding portal, platform attorney or Assurely’s website.
How to Develop Simplifying Complexity As a Superpower
Seeing the opportunity to provide and building the company to offer Tiger Mark is a great example of David’s ability to simplify complexity.
David offers two tips for developing this ability:
First, he says, “You’ve got to give a crap.”
Second, he says, “There’s something a little more tangible: the personas. If you can increase the intimacy with the counterparty, the person you’re communicating with, or you’re building a product for, right? When you humanize them, when you have empathy for them, you can now describe the thing as it relates to them.”
By following David’s example and his advice, you can increase your ability to simplify complexity and make it a superpower that enables you to do more good in the world.
Guest-Provided Profile
David Carpentier (he/him):
Co-founder/ CEO, Assurely
About Assurely: Assurely creates and distributes insurance for changing industries and innovative companies. Assurely’s technology and data-driven platform offers both new, custom-built, and traditional insurance products designed to be embedded into marketplaces and SaaS platforms or accessed directly by end insurance customers.
Primarily serving companies, marketplaces and platforms in the construction industry, fintech/private securities, SMB platform, among many others, Assurely is the next generation of insurance focused on creating value for each stakeholder in the insurance system. For more information, visit assurely.com.
Website: www.assurely.com
Twitter Handle: @assurely
Biographical Information: David Carpentier is the co-founder and CEO of Assurely, a venture-backed, high-growth InsurTech that builds and delivers insurance for changing industries and innovative companies. He is considered one of the top forward-thinking, innovative, and strategic professionals in the insurance industry. From early on in his career to today, David is known for taking on and solving emerging insurance problems that no one else can solve.
Prior to Assurely, David saw success in the corporate space, as a founding team member at a healthtech startup, and as a professional hockey player. Away from work, you can find him skating around the ice, discovering new music, or adventuring outdoors. Originally from Minnesota, he currently resides in Austin, TX, after his tenure in New York City.
Twitter Handle: @DaveCarpentier
Linkedin: linkedin.com/in/david-carpentier
Assurely Offers D&O Insurance to Protect Companies Raising Capital via Crowdfunding