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Founder@ Interview
With Jana Kejvalova
“What I have found is that being shy about reaching out for help is a waste of energy. Sure, some founders who’ve made it big don’t seem to have the time for anyone anymore but there are also many others who remember the start to their own journey and enjoy helping you succeed. You don’t ask, you don’t get.” – Jana Kejvalova
Today we feature Jana Kejvalova, the founder at Suited. We hear their story in their own words, their successes, their challenges and their insights.
Let’s start by getting to know you. Can you please tell us a little bit about you and what you do?
I’m Jana Kejvalova, the founder of Suited. I was born in former Czechoslovakia into a communist regime with very little prospect to run one day my own business in the UK, let alone in insurance. An industry that didn’t exist in my country. But luckily for me the Velvet revolution changed the scene when I was still very young, and with that I could suddenly explore a very different future. Like most I came to the UK to learn the language but soon I took on business and IT studies. Fast forward a few years and I amassed some 15 years – give or take – of insurance and insurtech experience. A year ago I combined the two to create Suited – liability insurance on subscription aimed at freelancers, contractors and small business in the UK.
A great introduction and start to this interview. Can you please tell us, how did you start, from what age, and what made you decide to change direction and start?
I spent 10 years working as a Lloyd’s broker focusing on financial products working with clients all over the world. During those years I learnt about impeccable customer service. An invaluable lesson not just in business but in life general. I then took a couple of years out to consider what my next career step would be. I started doubling with website building, SEO and technology. In my last role I used to built quote & bind systems for UK insurers and brokers using someone else’s code. What stood out for me the most in those 5 years were the frustrations for the end customer. Not just with the technology but also the way business was done. I thought business insurance could be done better. And then Covid came and with it plenty of time on my hands I sat down with my partner to build an insurtech of our own. One that provides a smooth uncomplicated journey for the end customer without any surprises of additional fees or APRs.
Thank you for that insight. So can you tell us…What does your business do and where is your company based?
We simplified the way business liability insurance is sold to small businesses and the self-employed in the UK. We took away all unnecessary questions, extra fees and charges. We provide a monthly subscription model which allows a great degree of flexibility for our customers to start, change and end their insurance whenever they need. The management of Suited is based in London while our customer service is in Bristol.
What’s the story behind your success? What led to your aha moment? how did you get to where you are now?
I always had the goal to run my own business one day. But whenever I was on the verge of launching one, the circumstances were never quite right. Until about 2 years ago. I knew then that I had the right insurance experience, enough technology knowledge, understood online marketing and the right industry contacts to finally take the step. The most challenging part was shaping out the technology so that it would be the cogs and wheels of Suited. This is what allows us to keep our prices to a minimum. I wouldn’t say everything else thereafter was easy but once we had our tech in place, we knew the rest is just a matter of time. Suited is a bootstrapped business. Our insurers have been great, very supportive of the idea and working very closely with us to enable the unique proposition. Who didn’t help? Surprisingly not too many turned us down. The idea and concept was well received and we weren’t stuck for choices.
Thank you for sharing that. What’s been your life’s biggest lesson so far?
We had a lot of dark moments when developing the tech. I wouldn’t want to be doing it alone because during those challenging times, it’s great to have a partner who will prop you up and vice versa. Persistence, persistence, persistence. That’s the biggest lesson. We all get frustrated when thing aren’t going to plan and sometimes struggle to see the way forward. On a number of occasions we had to take a lot detours to solve a problem. The next lesson I learnt – one problem at a time. Don’t look too far ahead because the mountain of work can get overwhelming.
We had some gaps in the SEO and online marketing marketing space. Looking back we could have started certain steps a lot earlier. But that’s easy to say now. When you are building a business, it isn’t always clear where you’ll end up at the launch phase.
If you were to go back in time, what piece of advice would you give to your younger self?
I would have definitely focused on building and maintaining my network. In business that’s invaluable and I’m still playing a catch up. Secondly I should have been braver. I worked for one of the largest insurance brokers in the world and got too comfortable. I should have challenged myself with a new role or a different company. It is important to be always growing and learning something new.
We’re nearly halfway through our interview so it’s a great time to ask how does your business run. What three tools make your business run better?
We have already touched on the fact that Suited is an insurtech. It works using its own technology which manages the customer pre and post sale journey in its entirety. The same goes for what happens at the back end of the business. Going back to paper if for whatever reason we couldn’t use our tech would be hard to imagine. It goes without saying therefor that we have a robust backup plan to prevent this scenario. We also have a great call centre based in Bristol. As much as we like to automate, customers still like to know that there are real human beings behind a business. Especially in insurance where not everything is instantly clear. Being there for our customers is important to us. We still have some more tools to introduce into the mix. An online chat is a popular way for customers to engage with their providers which is the next item on our list. Absolutely no bots! And we are exploring automating low level claims to speed up settlement process for our customers.
What do you know now that you wished you had known before?
We had some gaps in the SEO and online marketing marketing space. Looking back we could have started certain steps a lot earlier. But that’s easy to say now. When you are building a business, it isn’t always clear where you’ll end up at the launch phase. 
What has been your greatest or proudest achievement or moment?
Definitely getting the first customer subscription. Then you know your business is real and off the ground. We have only been around a few months but gathering a good pace doubling each month.
What future life goals do you want to achieve and why?
Suited has a great potential and I’m very ambitious for its growth.
To finish our inspire questions…”We believe that sharing inspiring words can inspire others.” If there was one positive thing you would say to someone to inspire and empower them what would it be and why?
What I have found is that being shy about reaching out for help is a waste of energy. Sure, some founders who’ve made it big don’t seem to have the time for anyone anymore but there are also many others who remember the start to their own journey and enjoy helping you succeed. You don’t ask, you don’t get.
“Thank you it has been great learning more about your founder story and Suited”
To learn more about Suited Visit Suited.Insure
Find on social media @
https://www.linkedin.com/in/jana-kejvalova/
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