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I don't know about other insurance companies, but the ones I know are incredibly bad at building software (I don't know any in the healthcare or HR business tho
by GFischer 11y ago
I don't know about other insurance companies, but the ones I know are incredibly bad at building software (I don't know any in the healthcare or HR business though).
Still, they're burning a very worrying amount of money.
- onion2k 11y agoZenefits are one of the few companies where the burn rate is probably inevitable. They're trying to get a secure foothold in a market that has slow-moving, largely technologically ignorant companies who are very wealthy. That wealth could be used to leverage the incumbent companies' dominant position if someone successfully starts to disrupt things. They need to get to a position where they can't be crowded out by the big players fast. That means spending a lot. Growing slowly isn't an option. Uber was the same. PayPal was the same. They were both so successful at it that the incumbents in their respective markets have just accepted the loss of market share without any return strategy. I imagine that's Zenefits aim too.
- jbob2000 11y agoUber and paypal had the advantage of offering a service that wasn't strictly specific to the USA. I can only use Zenefits in the states; the way HR works is totally different in Canada and Europe, much less India, China, etc.
- arthurcolle 11y agohey dude you're dead