Embrace Pet Insurance
Group three
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黃琤琁 MA260207
廖康彬 MA1N0232
Ma hui xin MA2N0245
陳怡琇 MA290206
http://www.embracepetinsurance.com/
• Which focuses on the four primary characteristics of
successful entrepreneurs? To what extent do Laura
Bennett and Alex Krooglik’s founding and development
of Embrace Pet Insurance reflect each of these
characteristics?
Question 1
• Passion for the business:
Both founders were clearly passionate about building a
high quality pet insurance company. Their passion was
repeatedly tested by the hurdles they had to overcome to make
Embrace Pet Insurance a reality.
• Product/customer focus:
The founders built a high quality pet insurance company
with a focus on providing value to customers. They remain
outspoken advocates for fair and reasonably priced pet
insurance.
• Tenacity despite failure:
Bennett and Kooglik faced many obstacles in making
Embrace Pet Insurance a reality, and could have thrown in the
towel on several occasions.
• Execution Intelligence:
It’s clear that the founders went through great pains to
price their product right and to create a fair and reasonable
product for their customers. They also have a philosophy that
winning a customer is the easy part (of the customer equation).
Servicing a policy fairly when a claim is made (i.e., execution)
is the hard part and the true test of a good company.
• To what extent do you believe that Embrace Pet
Insurance’s basic business idea “adds value” to the lives
of its customers? Who is likely to buy Embrace Pet
Insurance?
Question 2
• The idea adds value by providing pet owners the option to buy
fairly priced pet insurance that can be relied on to cover claims
(within the terms of the policy) when they are made.
• It would be difficult to assess the target market without
surveying pet owners. However, one target population are those
who have had an expensive vet bill in the past.
there are two significant occasions for this case study.
3.1 determine pricing
Question3
3.2 Find a potential partner
- Jumpstart nonprofit venture fund
- Lloyds of London
Question3
• Comparing from both of information, the case study and
Embrace Pet Insurance’s web site got through the same
main idea.
Question4
• Q-1. Does your college or university sponsor a business
plan competition, or are you aware of a collage or
university that does? If so, what are the benefits of
participating in a business plan competition? Do you
think Embrace Pet Insurance would exist today if the
group of four students mentioned in the case hadn't
entered an early version of Embrace's business plan into
their college’s business plan competition?
Application question
• Does your college or university sponsor a business
plan competition, or are you aware of a collage or
university that does? If so, what are the benefits of
participating in a business plan competition?
• Does your college or university sponsor a business
plan competition, or are you aware of a collage or
university that does? If so, what are the benefits of
participating in a business plan competition?
• Most of the universities and
colleges has sponsor business
plan competition, specially
school of business. I also think
that sponsoring a business plan
competition is right thing.
• Can give us great
experience (gain exp)
• Practicing our skills
• Sharing our new ideas
• Working with a team
• Can meet new
entrepreneurships
• Do you think Embrace Pet Insurance would exist today if
the group of four students mentioned in the case hadn't
entered an early version of Embrace's business plan into
their college’s business plan competition?
• I think that Embrace pet
insurance wouldn’t exit like
today. Because if it was easy
everyone would do it.
• what area are you most passionate about?
• take a piece of paper and grew a vertical line down the
middle.
• On the left hand side of the paper list two to three things
you are the most passionate about.
• on the right hand side of the paper ,brainstorm business
idea that correspond with each of your passions.
Application Question2
• 1. paper adhesive tape
• 2.cup
• 3.doll
business idea
Paper adhesive
tape
repeated use
• heat insulation
• Made from corn
Cup
Doll
Wash them and color again
Business idea