http://www.embracepetinsurance.com/

• 黃琤琁 MA260207• 廖康彬 MA1N0232• Ma hui xin MA2N0245• 陳怡琇 MA290206

Embrace Pet Insurance

Question 1

• 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?

• 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.

Question 2

• 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?

• 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.

Question3

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

Question4

• Comparing from both of information, the case study and Embrace Pet Insurance’s web site got through the same main idea.

Application Question2

• 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.

• 1. paper adhesive tape• 2.cup• 3.doll

business idea

Paper adhesive tape

repeated use

Cup

• heat insulation• Made from corn

Doll Wash them and color again

Business idea