Insurtech | Jasmin Flori-Hess | Raindrop
Growing up near Zurich in Switzerland, Jasmin initially dreamt of becoming a neonatal nurse. While life took Jasmin in a different direction, the desire to help others remained a constant.
Today, Jasmin is the CEO and Founder of raindrop. Raindrop provides an insurance policy-powered AI platform, specialising in decoding and analysing jargon. Raindrop helps insurance professionals navigate the complexities of ever-changing product disclosure statements and regulations with confidence and efficiency.
I have been lucky enough to speak to Jasmin a couple of times. She is very committed, has a clear vision and is looking to solve a real problem for insurance professionals and customers alike - understanding their policy and comparing coverage across insurers. Read on…
Jasmin Flori-Hess - Founder and CEO Raindrop
What gave you the idea for Raindrop?
In 2021, while organising a five-month family sabbatical, she encountered firsthand how difficult it is to truly understand insurance policy language. Despite her communication background and focus on customer experience, it took her 15 hours to analyse the eight policies we owned. Conversations with brokers and industry peers confirmed I wasn’t alone—there had to be a better way. That experience led to the creation of Raindrop. Like how a single drop of water can reflect an entire landscape, Raindrop was designed to distill vast, complex policies into clear insights.
Any key stats, data, reports, research you can provide to give flavor to the opportunity/problem?
70% of brokers spend 3 hours daily reading PDSs
80% of insurance professionals agree that compliance is difficult
If our SaaS only saves 50% of their daily reading time, we save brokers 30 hours a month—almost ¼ of their work time!
We received the ESIC private ruling by ATO two years in a row, validating both the innovation of our IP and its global growth potential
What does Raindrop do?
Raindrop's platform decodes and analyses ever-changing insurance policies using powerful AI—turning complex data into quick and easy-to-understand insights for insurance professionals.
With these newly gained insights, the industry is saving significant time, reducing errors, and confidently advising clients by providing instant policy comparisons and jargon-free knowledge.
Who is the solution for?
We started with the need felt for brokers. We properly defined the persona “Broker”. However, as we publicly spoke about Raindrop, we attracted interest and subscriptions from underwriters, claims managers, and operational clerks—all using our platform to gain a better and faster understanding. An industry buddy that answers their questions. Therefore, we call our target audience “insurance professionals”.
What problem does it solve?
Drop the jargon—Raindrop builds an unbiased industry AI, validated by human experts for the Australian insurance market, to analyse policy wording on a semantic level.
What is unique about Raindrop?
We amplify human expertise by having experts oversee and validate the AI we build. We’re also independent—unbiased and not influenced by any insurer.
What have you learnt about raising capital?
Funding disparities supposedly exist, but I didn’t feel it personally—though I’ve read about it often.
Networking and mentorship are key to becoming known and heard. Talk about your idea, your solution, your vision.
What do you think corporates can learn from early stage businesses?
The speed of implementation. Dare to try a new route.
Where do corporates need to improve in working with/supporting early stage businesses?
Their IT departments often block access. Give it a go—again, dare to try! Get a better understanding of technology, including both its capabilities and limitations. Don’t jump on a bandwagon just for the sake of it. Maybe it’s not a good fit. Communication around expectations and capabilities is crucial in this early stage of working together.
Where do you see Raindrop in ten years’ time?
SaaS enables better-informed humans. This will help brokers sell more fit-for-purpose policies. Informed purchases are always better than purely price-driven decisions. This can build stronger trust between the industry and consumers, leading to more claims being honoured, not rejected.
Biggest challenge you have faced so far?
Not having the right seniority level of technology knowledge by my side. For eight months we are now set up for success, and the momentum has been supersonic ever since. I try not to look back and ask “what if…”—this is a journey of exponential personal growth.
Example of a good result with Raindrop?
Hearing from early adopters that we already know more than any cyber insurance provider after launching our MVP was amazing. Our knowledge base is solid and elite, growing in a bi-weekly sprint rhythm. The support from reinsurers, carriers, and brokers in co-building a platform to transform industry standards is energising. Hearing that our insurance agent Neptune is a trusted buddy among both junior and senior staff in the industry is just wonderful.
What are the key disruptive forces you see facing the insurance industry?
Data will enlighten the industry—if used cleverly. From underwriting risk and selling policies to managing claims, technology will speed up processes and make human interaction more feasible and meaningful.
What is your focus now? And for the next couple of years?
Customer growth. Building features our users ask for, which likely means expanding into more lines of business. We build to their need and adapt our platform to fit their purpose.
Getting the Australian market right is our priority. We are building a strong, multi-cloud, automated machine learning engine that can scale to other countries and regions.
What are the one or two lessons/principles you carry with you into everything you do?
Keep it simple
Dare to ask questions
How do you balance your personal time and your ‘work’ time?
I organise family activities meticulously with my partner. First priority is that one parent is always available. We adapt our work calendars accordingly. This solid partnership is key to succeeding as a female founder.
To stay sane and grounded, I love living in Darwin—up early, dog walks at dawn, kids out the door, a HIIT workout, then work. Phone away when the kids are around. And when I’m overthinking things, I unplug: head out bush or go fishing.
