First of all, how are you and your family doing in these COVID-19 times?
Yoav Shaham: We are fortunate to be safe and sound these days trying to cope with the situation personally and professionally, making the best of it. We find it very difficult to be away from friends, family, and colleagues but understand this is the new norm, and we are doing what we can to stay in touch and move forward with work and our daily lives. Thanks for asking.
Tell us about you, your career, how you founded Sproutt.
Yoav Shaham: I studied Economics and Law, but professionally I’ve always been in technology and the startup arena. I love coming up with an idea and seeing it come to fruition. Before founding Sproutt, I founded, led, and finally sold Kontera, a company specializing in digital distribution. Today we are actually using the same technology at Sproutt.
How does Sproutt innovate?
Yoav Shaham: Fortunately, Sproutt was founded by a team of experienced entrepreneurs and technologists who took a data-driven approach to power modern life insurance that rewards people who take care of their lives. This means that Sproutt enables a complete end-to-end digital experience for the best product and customer experience in life insurance.
How the coronavirus pandemic affects your business, and how are you coping?
Yoav Shaham: The situation at hand increased people’s awareness of life’s fragility and coverage. Today we are able to help and get people the service and protection they need for themselves and their loved ones during this time. In addition, in a world of rising demand for life insurance, a digital platform serves as a replacement for the traditional sales teams to alleviate the public’s access to life insurance. We believe that the corona crisis is going to lead to a dramatic acceleration in the transformation of the life insurance industry.
Did you have to make difficult choices, and what are the lessons learned?
Yoav Shaham: I think that just like the majority of businesses, we had to take a minute to review what is on our plate: how can we support our customers, what our potential customers need from us now, how can we make sure our team can continue to supply the best service possible, and that we cannot make the changes we planned during the current quarter but only at a later time.
How do you deal with stress and anxiety? How do you project yourself and Sproutt in the future?
Yoav Shaham: I’m the type of person that can never sit still. While I may be working on one thing, I’m always looking ahead to how I can do more or what else I can do. This means I try not to dwell on being stuck or sink into anxiety, but how to move forward. I think this energy radiates to the people I’m around. Meaning, I try to get the message across for us, my team, to stay in motion, even if we find ourselves in a stressful situation. Having said this, stress does creep up once in a while, and I’m still learning how to deal with it.
Do you plan to stay in the game?
Yoav Shaham: As I mentioned earlier, I definitely feel that with our team, our experience, and our know-how, we have the technology advantage. We plan to be here in the long run as we listen and understand our audience’s needs, ensuring we provide the most comprehensive and accessible platform with the best life insurance plan options.
Your final thoughts?
Yoav Shaham: As the CEO of Sproutt, my main goal is to make sure my team is calm, collected, and focused. It is not easy these days, but it is my responsibility and my privilege. I hope entrepreneurs just starting out get this opportunity as well.
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