Jul. 22, 2020With new funding, Branch Insurance has sights set on nationwide expansionBranch Insurance, based in Columbus, has secured $24 million in funding to help take its rapid underwriting and quoting technology nationwide. Investors praised its CEO and his innovative business practices.
Jul. 22, 2020Branch, an MGA InsurTech, Plans Switch to Reciprocal Exchange After Raising $24MBranch, an InsurTech startup focused on bundling digital home and auto insurance, is eying national expansion through 2021 after nailing down $24 million in new financing. The MGA also plans to add a reciprocal exchange to its business plan.
Apr. 20, 2020Insurtech Startup Branch to Aid Auto Insurance Clients with Community Giveback ProgramColumbus-based startup Branch announced they are giving back 15% of monthly insurance premiums to auto policyholders in response to the current health crisis. This compassionate initiative recognizes clients' reduced driving due to shelter in place orders in effect and works to ease the financial burden many are facing across the country.
Apr. 14, 2020Branch’s Serverless First Architecture Approach Makes it Easy to Bundle Home and Auto CoverageWith Branch, 90% of the users that come to their site from Arizona, Ohio, Illinois, Texas, and Missouri—the states the company currently supports—are able to just enter in their name and address to get a bindable price for bundled home and auto insurance. No calling one agency just to get connected to another, and then ending up with an inflated price.
Oct. 29, 2019Branch insurance startup launches in ColumbusColumbus is now home to another insurtech startup. Branch began selling policies in August in Ohio with the goal of becoming a dominant player in the home-auto bundling market, and it launched in Arizona in October. It sets itself apart from the competition by offering rapid online pricing and sales, says founder Steve Lekas.
Jul. 22, 2020Insurance Startup Branch Secures $24 Million Series A FundingBranch Financial, Inc., a Columbus, Ohio-based insurance startup providing personal auto, homeowners, rental and umbrella insurance products direct to consumers, has closed a $24 million Series A funding round.
Jun. 22, 2020Branch launches My Community Discount program in MissouriBranch announced it launched the My Community Discount program in Missouri, in addition to lowering auto rates statewide by approximately 20%. The program enables clients to save on their insurance premiums by inviting friends and family to quote with and join the Branch community. The My Community Discount program allows clients to invite friends to quote with Branch through a personalized link. When friends quote, both clients and friends receive Amazon gift cards and when a friend joins the Branch community, clients and their friends receive premium discounts up to 50% off their insurance. “Branch is built on the idea that insurance should be less expensive and the innovative My Community Discount allows Branch’s clients – its Community – to hang onto their hard earned dollars rather than spend it on premiums that support insurance company advertising,” said Cofounder and CEO Steve Lekas. “It’s another way Branch uses technology and community to help our clients save.”
May. 7, 2020These cutting-edge insurance startups are giving back to communitiesBranch Branch, founded in 2017, offers auto, renters and homeowners insurance with a vision to “leverage the dual powers of technology and community.” “Branch’s mission is to make insurance less expensive, allowing more of us to be insured, which benefits everyone,” says Branch Co-founder and CEO, Steve Lekas. SafetyNest program Instead of putting your premiums toward a third-party nonprofit, Branch contributes a portion of premiums to its affiliate organization called SafetyNest, currently pending 501(c)(3) status. “If someone has suffered financial loss because of an incident where they didn’t have any or enough insurance, they may qualify for the SafetyNest program,” Charlie Wendland, Branch’s Head of Claims, explains. “Branch manufactures less expensive insurance and SafetyNest helps bring the uninsured into the insured community through grants and financial education,” says Lekas. “The more who are insured, the less each insured pays for insurance.” Policies are backed by an established insurer Branch does not underwrite its own policies, meaning that while you work with Branch for customer service-related needs, it works with another company that actually holds onto the risk, an underwriter. Branch works with General Security National Insurance, a company rated A+ in financial strength by AM Best. Branch doesn’t control the payments from the underwriter if you need to make a claim, but it will provide a representative to help you through the process.
May. 1, 2020Insurtech Branch Now Offering Auto, Homeowners Insurance in TexasBranch says it is shaking up the insurance industry providing a way to bundle home and auto insurance in as little as 30 seconds. Using technology and automation, Branch has re-engineered the experience to be quicker and more efficient, making it easier than ever for clients to save money. Where most traditional insurance companies require clients to fill out applications with hundreds of questions, Branch developed a way to bundle insurance with just two: name and address, the company said.
Sep. 30, 2019Meet the insurtech: BranchBundling home and auto coverage is a good way for consumers to get a unified, efficient experience from their insurers. The Columbus-based insurtech Branch is trying to make it as easy as possible to do so. Co-founded by Allstate veteran Steve Lekas and Joe Emison, formerly of BuildFax, Branch sells a bundled home and auto product based on only one piece of input from the customer: Their name and home address.