Clarifying Questions

• Is Sentinel looking to sell its platform to small business insurers as a SaaS tool, or to underwrite small business policies directly as an insurer itself?
• What is Sentinel's current revenue model with its three existing insurer clients, and what does contract size look like?
• Does Sentinel have any existing relationships with insurers who focus on the small business segment, or would this require building an entirely new customer base?

Framework

Bucket 1: Market Attractiveness

‍Objective: Understand whether the small business insurance market is large enough and structurally attractive enough to justify the investment required to enter it.

• Market Size: total premiums written in the small business property and casualty insurance segment and growth trajectory
• Underservice Level: degree to which small business insurers currently rely on manual or outdated underwriting processes, which determines how much value Sentinel's AI platform could add
• Competitive Landscape: existing AI underwriting vendors targeting this segment and the relative maturity of the competitive environment

Bucket 2: Sentinel's Ability to Win

‍Objective: Understand whether Sentinel's platform and current capabilities are a strong fit for the small business segment specifically, since small business insurance has meaningfully different characteristics from the commercial P&C (property and casualty) market Sentinel currently serves.

• Product Fit: whether Sentinel's underwriting models, trained on commercial P&C data, can be effectively adapted for small business risk profiles without significant re-engineering
• Go-to-Market Fit: whether Sentinel's existing sales motion of selling to mid-size insurers translates to the small business insurer segment, which may have different buying processes and decision-maker profiles
• Competitive Differentiation: what specifically makes Sentinel's platform better than existing alternatives for small business underwriters, and whether that advantage is defensible