Idealog - - IDEALOG / KIWIBANK - heyteddy.co.nz

Hav­ing iden­ti­fied sev­eral key pain points for SMEs when it came to buy­ing in­sur­ance, Calum Ma­cLeod (left) had come up with the idea for Teddy, an on­line plat­form that gave small busi­ness own­ers a way to get the in­sur­ance they need quicker, cheaper and with­out any un­nec­es­sary has­sles.

Idea­log: Al­right, let’s hear it. What's Teddy?

Calum Ma­cLeod, CEO: Teddy is an on­line plat­form for busi­ness own­ers where they can source, buy and man­age all their busi­ness in­sur­ance, all on­line, all through an easy process. That’s pretty much it in a nut­shell.

Why did you get in­volved in the ac­cel­er­a­tor?

I'd thought of the idea al­ready and wanted to start it. I've al­ways been on the news­let­ter for Cre­ative HQ, so I've been plugged into the com­mu­nity for a while. This is the first time I've had some­thing that made me want to leave the job and give it a good crack.

I wanted to pur­sue this idea. Just when I was con­sid­er­ing leav­ing my job and the news­let­ter came out say­ing ap­pli­ca­tions were open, and I thought 'Wow, okay. That's a pretty clear sign that the op­por­tu­nity was there.’ So I signed up and we quickly got a team to­gether.

Was quit­ting your job still a dif­fi­cult de­ci­sion?

Yeah, it wasn't easy. It's never easy leav­ing the com­fort of an in­come, leav­ing that se­cu­rity and go­ing to some­thing that's un­known.

Who would ben­e­fit from go­ing through a pro­gramme like the Ki­wibank FinTech Ac­cel­er­a­tor?

Prob­a­bly any­one who feels that they could ben­e­fit from a huge net­work and from ex­per­tise in ar­eas they might be weak in. For some­one who thinks they know it all it might not be for them, but I can't think of many peo­ple in that sit­u­a­tion.

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