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Hi!

I have 3 questions:

1) how much, in total, excluding your own hours, did the regulatory compliance stuff cost to launch just 1 product in 1 state?

2) how much would it cost to launch that same product in 50 states?

3) since you didn’t want to have x3 or more sitting in the bank you chose to go with a re-insurer. And that took a year. Why was it that hard? Did you need a connection?

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Thanks for your questions! So, the actual cost of the regulatory filing part isn't that high in dollars, it isn't necessarily cost prohibitive. The real issue is building a unique insurance product, the underwriting for it, the pricing model, and all that good stuff - and then finding the reinsurance and primary insurance partners that will go to this new place with you. Knowing people helps, track records are important, the strength of your underlying models (industry vets at those companies will put them through the wringer). And then you need to do that 49 more times...

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