RHS 086 – Steve Lekas on Why Insurance Needs Another Startup Carrier

by | January 28, 2021

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In the latest episode of the Ryan Hanley Show, host Ryan Hanley interviews Steve Lekas, the Cofounder and CEO at Branch Insurance. Steve talks about what led him to love the insurance industry and shares three insights on creating real value for consumers.

Episode Highlights:

  • Steve shares why the mutual should have been the perfect insurance model. (7:00)
  • Steve mentions what led him to love the insurance industry. (14:32)
  • Steve shares his background. (16:34)
  • How did Steve come up with the name for his agency? (19:31)
  • Steve shares the three insights that led him to start an agency. (22:12)
  • What makes Branch different from any other agencies? (26:33)
  • How was Steve able to piece it together, when everyone else has not been able to? (35:19)
  • Steve mentions what has been fascinating and exciting for their agency. (36:53)
  • What does the future of working with independence look like for Steve? (52:44)

Key Quotes:

  • “Part of how we built this idea of community is with some real product innovations, and how the community can benefit each of the members. And I love the metaphor of a tree creating coverage, I love that it grows, and it was a name that ended up sticking, as we incorporated and went to market.” – Steve Lekas
  • “I think we come at it from a little bit of a different angle because of the experience of working with consumers and understanding their buying, and shopping behaviors. And architecting a business that was built to solve the problems I couldn’t solve in some of my past lives.” – Steve Lekas
  • “I think our mission is to make insurance less expensive, and by making it less expensive, we can help more people be insured, which we most explicitly go after through our nonprofit arm safety nest.” – Steve Lekas

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