Claim to Fame: Aiming for Global Acclaim
Many of the finest startups around the world are created from a place of frustration towards processes and products they believe could be much better. The Danish company, ClaimLane, is no different. CEO and Co-founder, Anders Sommer-Larsen is very much the embodiment of this as his company concept began with him noticing the difficulties in returns processes when selling refurbished iPhone screens. He quickly realised that managing claims was no simple task and spotted a gap in the market. “No one likes dealing with faulty products, warranties, and return claims because the process is typically unstructured, costly, and frustrating, especially when many stakeholders are involved.” (linkedin.com/claimlane)
Born out of a need to collate the mass amount of information received when a claim was being processed, both founders recognised that the process of dealing with claims was both laborious and arduous – not to mention wasteful in regards to potential consumer and product based data that was not being harvested. In turn, they decided to build an ‘accessible platform for retailers to quickly and effortlessly manage communication and bring awareness to the product quality in the name of sustainability.’ (About (claimlane.com)).
The Start Up Attitude
The archetypal startup, ClaimLane is characterised by its small, but incredibly driven team, who are growing rapidly. A typical startup, they are constantly punching above their weight, often defying limited finances. What’s more, after forming only a few years ago – in the Covid era – they’ve faced many trials and tribulations, but are now expanding outside of the Nordics.
Anders very much personifies the ‘Startup attitude’ with his multifaceted and fluid role within the company. Like many others at the company, Anders’ role is far from set within a particular bracket. One day he is technical, the next trying to hire the right people, talking to customers through support calls and improving the product. It’s essential that many of the roles at the company are both extensive and flexible in order to quickly adapt to challenges & opportunities.
In summary, ClaimLane are proceeding with an air of cautious optimism, realistic about the difficulties that may lie ahead but incredibly determined to achieve global success.
Navigating Difficulties When Establishing in The UK
Like many Nordic companies, ClaimLane has looked to the UK Market to continue the growth of their business. The UK market signifies a global scale statement of intent and thus a departure from the safety of their comparatively smaller Nordic market. Whilst there is great opportunity in moving to the UK market, it must be noted that it can be a very complex process to do independently, with Anders highlighting the process as ‘pretty complicated’ and to ‘get help from Goodwille’.
Interestingly, the translation of their product from the Nordic market to the UK market has been something they’ve been attempting to overcome. Anders highlights this by saying they “spent the first three months [in the UK] trying to completely change our value proposition and website because it just didn’t work in the UK.” The biggest challenge that has arisen is in the ‘Anglification’ of the product, with the name ‘claim’ having incorrect legal and insurance connotations. This slight nuance in definition is a hurdle that ClaimLane is currently overcoming.
Moreover, the company is operating in what Anders describes as a “Blue Ocean Market”, as there are not too many similar products to compare its metrics to. ClaimLane are – successfully – attempting toof the true value of the service they offer, in an immature market.
More Positive Signs of Progress
After navigating some of the earlier challenges faced when setting up in the UK, there are now some very positive signs for the budding start up. A number of large UK companies have enlisted their services and the number of UK premium user brands (amassed from branches of their other global collaborations) continues to grow exponentially. With word of great service travelling fast, it will not be long until ClaimLane becomes a stalwart of the UK returns industry.
Being such a young company, and having many of their formative years under the shadow of the Covid pandemic, will have provided invaluable experience. Both positive and adverse experience is priceless for a start up in the infancy of its journey. Anders alluded to this being particularly evident in the finessing of their recruitment strategy, whereby, they were originally unsure of the type of employee that they would need to hire to succeed within the UK. Realising the need for a change in approach, they restructured their recruitment strategy early on.
Despite the Start Up status, Claimlane have continually defied expectations with more than five thousand retailers, manufacturers and brands now using their services. It’s this attitude that will continue to help them grow exponentially and propel them onto the global business landscape.
With the growth and backing of a strong European client base, ClaimLane are beginning to look at expanding further into some significant global markets such as Southern Europe and the US.