Kadmy – Fotolia Kadmy – Fotolia When building a startup , there is a real balancing act between managing expectations, educating on what’s possible, and identifying the true cost of innovation. CTOs are challenged not only to build functional technology platforms quickly, but to do so as cost effectively as possible. Startups are often not profitable therefore don’t have a lot of cash to burn, meaning the CTO has to deliver technology solutions to solve their business goals on a limited budget. Let’s look at a legacy industry like commercial insurance – it’s been undergoing a transformation in recent years. The industry is data and human heavy and is heavily regulated which is why it’s ripe for innovation. It is also playing catch-up to address the needs of many consumers who want a seamless user experience and businesses that want a modern experience – faster, streamlined, digitised, and so on – when dealing with insurance providers. This is particularly true of the on-demand economy . Leveraging technology The on-demand economy is characterised by the likes of Taskrabbit, Doordash, Uber, Deliveroo and Amazon Flex. But it’s the likes of hard working on-demand taxi and delivery drivers who are calling for […]
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