Female Startup: digital solution for health insurance

The Female Startup column not only acquaints IT Park readers with female startups, but also inspires other girls and women to be bold and more determined.

33-year-old Elena Menshikova, CEO of the IbnSino project, is a vivid example confirming that women can do anything. In this article we tried to pile up information on how the idea of ​​a startup appeared, how the product is useful and what the team plans to do to develop.

From idea to realization

Elena works at TBC Bank Uzbekistan as a data analyst. The idea to launch the startup IbnSino, the girl recalls, came after her successful participation in the women's hackathon Tumaris.Hack.

“As part of the hackathon, at the draw, I met Husnia and Merjen. We became a great team and continued to develop the idea of ​​a hackathon.  I am often asked why the digitalization of insurance? It's simple: I myself encountered difficulties when making an appointment with a doctor under a supplementary health insurance policy and saw flaws in the construction of this business process. I wanted to create a product that could fix all the shortcomings.”

This is how the IbnSino project was born - a digital solution designed to help insurance companies' clients buy insurance and make an appointment in one click, without unnecessary calls and waiting.

What is the benefit of your product?

Every startup must have some value. The value of the IbnSino project lies in its convenience, Elena believes.

“Our startup allows you to do everything remotely. This is a huge time saver. No need to go somewhere, stand in traffic jams, in line. This is a great opportunity to save your nerves as well.  In addition, we are contributing to the development and digitalization of the health insurance market in Uzbekistan.”

Since the startup is still very young, the project team consists of 3 main people:

 • Merjen - developer;

 • Husnia - designer;

 • and Elena herself — she is responsible for the overall development of the project, the search for investors and the concept of product development.

“Our project is moving and developing, in just a couple of months we were able to go from an idea to meetings with potential clients. In my opinion, this is a good pace. Now we are joined by guys who want to help develop the product - sales, development, UX / UI.  We welcome new members of our team!”

How do you plan to promote the product?

The team is currently looking for funding to advance the project.

“We want to sell an already existing solution. Our advantage is that we are ready to refine the product for the client, so the development of commercial and investment activity goes in parallel. Uzbekistan is taking steps towards novice entrepreneurs, and this is very pleasing. The market for venture insurance and business angels is still in its infancy, but the infrastructure and support for the startup industry is gradually forming. Therefore, we believe that we can do everything.”

According to Elena, the biggest difficulty is the start of sales. Often great ideas and good developments are not implemented because the importance of marketing and sales in a startup is underestimated. Fortunately, participation in Tumaris.Tech helped the team in many ways.

“Tumaris.Tech has become the next step for our team after Tumaris.Hack, so we can say that our startup is growing and developing as we participate in the project. That is, for IbnSino Tumaris.Tech became a venue that helped to formulate a market strategy for a technical solution.”

For novice startups, the girl wishes courage. She is sure that any startup can become successful in their own direction.

“It seems to me that it is a little more difficult to enter the fintech sector in Uzbekistan, as a fairly competitive market with strong players has already formed there. In other areas, a truly worthy idea will always find its place. A new outlook and readiness for rapid growth is the key to success. Don't be afraid of anything and remember that the world needs your ideas."