Pitch Deck Teardown: Faye’s $10 Million Collection A Deck

A 12 months in the past, Mike Butcher reported that Faye hopes to do for journey insurance coverage what Lemonade did for normal insurance coverage, and that’s pretty much as good a abstract of what Faye does as something. The corporate was sort sufficient to share its (barely redacted) pitch deck with me so I may look beneath the hood to see the story it was weaving to shut its $10 million.

We’re searching for extra distinctive pitch decks to interrupt down, so in the event you’d wish to submit your personal pitch decks right here’s find out how to do it.

Slides into this deck

Faye upped his Collection A spherical with a 19-slide deck, a couple of of which have been calmly redacted to guard delicate information from prying eyes:

  1. Cowl slide
  2. Abstract slide
  3. Staff slide
  4. Downside slide
  5. Market measurement slide
  6. Insurance coverage market overview slide
  7. Product overview slide
  8. Product options slide 1
  9. Product options slide 2
  10. Product options slide 3
  11. Product options slide 4
  12. Go-to-market slide
  13. Shifting monetary development metrics
  14. Buyer development metrics are shifting
  15. Buyer validation slide 1
  16. Aggressive panorama slide
  17. The Ask slide
  18. Buyer validation slide 2
  19. Closing slide with mission assertion

Three issues to like

Let’s get this out of the best way instantly: this actually is a superb pitch deck. I’m going so as to add it to my rotation of decks which are nice examples of find out how to distill a doubtlessly complicated story into an easy-to-follow one.

I like a superb abstract slide

As I discussed in my submit about abstract slides, the mix of the duvet and abstract slides units the context for the remainder of the dialog. Faye did a terrific job displaying how a superb concise slide can set the tempo.

(Slide 2) Set the tempo. Picture Credit: Faye

The corporate lists traction ($M in gross sales) and market penetration (obtainable in 48 states), together with market measurement and market development. These 4 numbers paint an image that presents fairly a horny funding alternative.

Taking all numbers at face worth, the subsequent step within the story is to persuade traders that that is the correct staff to enter this market.

Which brings us to slip 3, the corporate’s staff slide. Sadly, it’s not that nice, so we’ll discuss it within the “What will be improved” part later on this article. For now, let’s transfer on to a different slide that made a terrific contribution to Faye’s story.

Nice tales in the marketplace sized slide

(Slide 5) What a good way to make use of market sizing to your benefit. Picture Credit: Faye

Once more, there’s redacted information right here.

Other than Faye numbers, this can be a uncommon instance of a market-sized slide that additionally gives the remainder of the context. I assumed it was very effectively completed.

Displaying that the market measurement is (presumably) large, then saying basically, “However the TAM might be greater by increasing the service providing and worldwide rollout,” could be very good. It reveals that there’s a nice alternative obtainable proper now and the chance can proceed to develop.

The info factors on the left are additionally glorious as they contextualize the corporate within the bigger market.

This slide teaches us that you could inform an elaborate story with out obscuring the message. I think about the voiceover for this slide could be one thing like this:

The market we’re focusing on is presently $xx and might be as massive as $yy as soon as we absolutely handle it. What’s actually nevertheless, the thrilling factor right here is that the market is definitely disrupted. There may be little innovation, no acknowledged client manufacturers, these which are energetic have low market penetration and all the market is rising at 10% 12 months over 12 months.

The story ties all the things collectively and portrays journey insurance coverage as a really attention-grabbing alternative.

Comparability between markets

Faye focuses on journey insurance coverage and makes use of some neighboring markets (auto and residential insurance coverage) as comparisons to indicate that journey insurance coverage presents a greater alternative. Once more, the numbers right here have been redacted, however so far as storytelling goes, this can be a actually good approximation:

1685111351 698 Pitch Deck Teardown Fayes 10 Million Series A Deck

(Slide 6) Insurtech galore. Picture Credit: Faye

My guess is that the corporate added this slide to reassure traders discouraged by different insurtech performs. Assuming the numbers are good, this can be a actually impressed approach to place the market – and Faye in it. Nicely performed certainly.

In the remainder of this teardown, we check out three issues Faye may have improved or completed in a different way, together with the complete pitch deck!

Three issues that may be improved

I already talked about that the staff slide may use somewhat love, so let’s begin there.