RHS 095 – Aaron Steffey on Digitizing Surety Bonds for Independent Agents

by | April 1, 2021

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In this episode of The Ryan Hanley Show, Aaron Steffey, the co-founder and managing partner of Propeller Bonds joins the podcast to discuss how his digital surety bond platform is changing the game for independent agents that want to add surety bonds to their portfolio of products. Don’t miss this episode…

Episode Highlights:

  • Aaron shares his background in insurance. (11:49)
  • How did Aaron meet Ryan Hanley? (15:40)
  • Aaron shares his business philosophies. (19:00)
  • Aaron walks us through the customer facing side of his website. (20:02)
  • Aaron talks about adaptability within the industry. (25:24)
  • Where are bonds coming from? (27:35)
  • Aaron explains his underwriting process. (30:45)
  • What does Aaron attribute his success to? (34:28)
  • Aaron shares how he drives sales. (39:38)

Key Quotes:

  • “Coming from an agent perspective, I always understood the value of the agent. I actually think that carriers and anyone else drastically underestimates the agency relationship with the customer. I think it’s more powerful than people give it credit for a lot of times.” – Aaron Steffey
  • “What a lot of newer products are going to do is make it adaptable, to where you can take yourself out of the whole process if you want. Or, you can not market the link to anyone and keep it in-house, and just have it help your staff process bonds faster. So. it can be whatever you want it to be. I think that adaptability and flexibility is really what’s needed.” – Aaron Steffey
  • “I think the fact that we offer distribution and technology is a really attractive thing for them. Because, we’re able to go out and appoint hundreds of agencies essentially for them.” – Aaron Steffey

Resources Mentioned:

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