Every entrepreneur has a story. Some start a business in college, some start a side hustle while still working full time, and others spend 20 years in an industry before taking the plunge into entrepreneurship.
Gregory Bailey, co-founder and CEO of Denim Labs, Inc., has done a little of all three. Bailey started his first business in college, which led him to an internship at an insurance company. After graduating college, he became a full-time insurance agent, eventually moving into management and VP-level positions. In total, he spent 20 years working at insurance companies, learning the ins and outs of marketing and distribution, and growing his interest in the technological side of the industry.
“I got to experience and lead the development of some of the first instances of using mobile platforms in the insurance industry,” Bailey said. “I continuously sought out opportunities to discuss mobile-first strategies and explore what it looked like to add new technologies to a 200-year-old industry.”
This experience provided the impetus for him to co-found Denim Labs. Launched in October 2016, Denim offers intuitive, cloud-based software for insurance and financial services marketing teams. He worked with IICorp to find the resources he needed to launch his business.
Denim’s software empowers the industry’s advertising and marketing professionals to take a single social media campaign and, using consumer data, hyperlocalize that campaign on behalf of hundreds of agents, advisors or brokers in their local markets.
Bailey recognized that while these companies understood the need to deliver consumer engagement via mobile and social channels, there were still knowledge gaps. Denim educates insurance and financial services companies about the delivery possibilities, solving their problems with its proprietary platform.
Bailey’s goal is to connect the traditional suit-and-tie industries of insurance and financial services with innovative, smart technology that can improve marketing ROI in the digital age. And while Denim’s transformational approach to insurance marketing and distribution is serious, its software is comfortable and approachable.
Since its launch, Denim has powered more than 10 million social media ads for hundreds of insurance agents in their local markets.
“That’s a number we’re proud of,” Bailey said, “but we can’t wait to see that number grow into the hundreds of millions or even billions!”
He may not have to wait long, as the market opportunities are huge. Americans look at their smartphones more than 8 billion times every day, and many of those looks are at their favorite social media feeds…right where they’ll find ads for Denim Labs’ insurance and financial services clients.