6 years ago

Hobnobbing with Gustav Holst Stuge from In My Bag

So, what does In My Bag do?

We think that device insurance is broken and have decided to fix it. It’s absurd that it takes 2 weeks for a claim to be handled when your phone breaks. With us, we pick up claims in minutes and handle most within 24 hours. We also use data from third party devices to understand fraud in a much more powerful way.

What’s behind the business idea?

The view is that people’s phones and laptops are the most important thing in their pocket and if something happens to it there’s an emergency. With the freelancer population growing, this group of people rely on their devices more than ever.

Was it hard becoming a business owner?

Yes, it’s super difficult and super fun, often simultaneously.

How did you recruit your employees?

I used good head-hunters and looked for people who brought excitement to the business.

Was there a breakthrough moment?

There are many ups and many downs, we’re not finished yet!

Do you have any regrets, If so how did you overcome them?

Not really, and I don’t  say that because I don’t think we haven’t made mistakes, but because I’m focused on solving today and tomorrows problems, not yesterdays.

What makes you stand out from your competitors?

Our speed, our service and our understanding of data.

What is your definition of a positive customer experience?

When someone says “wow”.

You’re currently reaching out for investors, what do you plan to do when you have raised this funding?

We have a lot of really incredible partnerships in the pipeline and we need funds to get them live. We have signed with Bud who are now live with HSBC’s 24m customers and for us to sell to them we need to bulk up fast! There are several more partnerships like this in the works as well.

If you could help a business now with a single piece of advice, what would it be?

Raise more than you expect, get backers and partners who work with you. When running a business you need all the help you can get.

Finally, Gustav what is your favourite biscuit?!

Easy, rarely does a week go by without a packet of dark chocolate digestives on my desk.