Cyber Monday Sale! 50% Off All Access

Breaking the Mould From frustration with outdated practices to a tech-driven insurance model, Gary Ross shares how he founded blip to provide clear, affordable, and SME-focused solutions.

By Entrepreneur UK Staff Edited by Patricia Cullen

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur United Kingdom, an international franchise of Entrepreneur Media.

blip Insurance
Gary Ross, CEO, blip Insurance

After 30 years in senior insurance roles, Gary Ross grew frustrated with the industry's complexity and high costs, particularly for small businesses. This drove him to create London based blip - a company harnessing technology to simplify insurance and deliver tailored, affordable solutions for SMEs. In this Entrepreneur UK interview, Ross delves into the challenges, successes, and key lessons from his entrepreneurial journey.

What inspired you to start your business?
Having worked for over 30 years in senior leadership within Underwriting, Claims and Reinsurance as a director I'd grown frustrated with the way things were done and felt that insurance had become too complicated and too expensive.

Having left the Lloyd's market, I was inspired to create blip and utilise technology to maximise the user experience. There's a one-size-fits-all mentality in the industry that doesn't service small businesses which, given most UK businesses are SMEs, is just not right. The team at blip want to provide a service for small business owners that is founded on the first principles of insurance but involves so much more.

What was your biggest challenge and how did you overcome it?
At blip our biggest challenge was navigating the well-established insurance infrastructure. We needed to guide customers, partners, and investors to recognise that user experience is the cornerstone of our offering.

We achieved this by streamlining our process and offering small business owners the best price possible. By avoiding price comparison websites, we can pass savings directly to our members, fostering a community where the premiums of many cover the losses of a few. On average, our prices are nearly a third lower than those found on comparison sites, and we are so confident in our rates that we'll match any lower price a small business owner might find.

How did you secure your initial funding?
For our first round of funding, I relied heavily on ex-colleagues and mentors who know the insurance industry like the back of their hand. I presented them with the issue and explained how the blip model would provide insurance for small business owners in a clear, simple format at a price that cannot be beaten. It is reassuring to have such an experienced and expert group of investors supporting blip.

With an established brand, website and customer success stories, our current fund raise is in the process of closing. Part of this round included our key technology partners who recognised the opportunities for blip innovation and invested. We now have the techie support to underpin our existing insurance-based investor group.

How do you handle failure or setbacks?
I handle failure and setbacks by staying resilient and maintaining a proactive mindset. When challenges come up, I try to see them as learning opportunities rather than obstacles. Staying calm and focused on finding solutions helps me move forward more effectively.

Building and maintaining strong relationships with customers, partners, and employees is also essential. I make it a point to communicate openly and transparently during tough times, which helps build trust and strengthen those connections. By staying adaptable, continuously improving my processes, and keeping my long-term vision in focus, I understand that setbacks are a normal part of growth and success.

What advice would you give to someone starting their own business?
I would say the most important thing is to focus on identifying a specific problem your business will solve and make sure there is a demand for your solution. I knew that small businesses were being sold insurance products they didn't need at a price that was higher than it should be!

Equally important is building a strong network of support. Surround yourself with mentors, peers, and advisors who can guide you through challenges and provide valuable insights. Our team at blip has a variety of experience and industry expertise. We work fast and communicate clearly – trusting who you work with is pivotal for success.

How do you stay motivated during tough times?
At blip we stay motivated during tough times by reminding ourselves of the bigger picture and our mission. Focusing on our long-term goals and the impact we want to make helps the team push through challenges.

We break down larger problems into smaller, manageable tasks, which keeps us moving forward and helps avoid feeling overwhelmed. Celebrating small wins and recognising progress, no matter how minor, also keeps momentum going.

Share your tips for achieving success
Be bold, decisive and brave. Stepping out of the established insurance framework and launching blip was a challenge but one I am incredibly passionate about. You need to be unafraid of taking risks and make sure that you keep your belief in what you're doing. Just because things have been done a certain way forever that doesn't mean they shouldn't be challenged, changed or improved!

Business News

U.S. Job Market Soared in September, Exceeding Analysts Expectations

The news comes after July and August had weaker-than-expected numbers.

Real Estate

Why Real Estate Should Be a Key Part of Your Wealth-Building Strategy in 2025 and Beyond

Real estate remains a strong choice for building wealth in 2025 and beyond, from its ability to generate passive income to offering long-term appreciation and acting as a hedge against inflation.

Fundraising

They Turned Down an Early Pay Day to Maintain Control of Their Business. And Then Went on to Raise $190 Million.

Jason Yeh, co-founder and General Partner of Patron, explains the early-stage venture firm's creation and future outlook.

Marketing

How to Beat the Post-Holiday Sales Slump and Crush Your Q1 Goals

Overcome the post-holiday sales slump and keep the momentum strong with these key tips.

Business News

'This Company Has Been My Life': Intel CEO Retires, Reportedly Forced Out

Intel CEO Pat Gelsinger has led the company since February 2021 and said his departure is "bittersweet."