In a time where almost every industry has been improved by technology, it is hard to justify why insuring your business, managing policies and feeling confident that you have the right coverage at the right price is so difficult. Mint, Credit Karma and Clarity Money have made personal finance simpler, TrueCar and Cars.com have added transparency to the car buying process and Gusto and Zenefits have digitized your companies HR and Benefits; it is about time that business insurance becomes simpler, more transparent and digitized.
As a team of technologists and insurance junkies, we have been obsessing over this problem. Why was it that when we asked "who covered your business in case of a claim?".. Most business owners and admins couldn’t answer. Then when we asked "how much they were paying?".. The answer sounded like a sunk cost and being prompted with the question, "What are you actually covered for?".. Most mumbled they had no idea.
This is a major problem.
When a process reliant on middlemen is fragmented and complex, customers become indifferent to details and it becomes easier for third parties to make decisions out of their best interest. A confused and complacent company can end up with inadequate coverage, overpriced premiums or a dangerous misunderstanding of what their insurance actually covers.
Puzzles are made to be tough and usually, the amount of difficulty is measured by the amount of pieces given. We can think of a company’s insurance as a puzzle that when assembled correctly, all important and coverable risks associated with that business are accounted for at fair cost with complete transparency. Many businesses possess most of the pieces to their insurance puzzle, however, they are unsure of where to find them and if they have gaps in the big picture.
Trying to locate your missing pieces by diving through old mail, searching through your archived inbox and demanding information from 4 different agents is unacceptable.
That is why we created a platform built to hold this puzzle together. A simple to use interface that provides a dashboard for all your business’s policy information. While providing both insight and recommendations on how to improve your coverage and save some money, Lavender keeps a tight and secure hold on the state of your companies insurance. With the Lavender dashboard, you can:
And most of all, feel like all the pieces to your insurance puzzle are safe and in place.
Maybe your company doesn’t have insurance, started a new operation or just hired your first employee (yes, you need insurance when you do that). Following one of those events, it is common to feel stressed and lost like when you are planning for a first date. You may even find yourself asking one of the following: (insurance equivalent questions in parenthesis are)
Where should we go? (Where do I find insurance?)
What should we do? (What insurance do I need?)
How much should I spend? (Is this quote too high of a price?)
Will she/he like me? (Will the insurance company actually offer me a quote?)
What should I wear? (How should I represent myself to the company asking these questions?)
To make matters worse, many people worry about first dates to the point that they avoid ever going on them, and when it comes to insurance it is common for companies to go unprotected just to avoid that hassle as well.
This is a horrible circumstance. Businesses lose out on protecting their company because the insurance industry has made it to confusing to purchase insurance…
We understand this process should be easy. Buying boring and complex products should never be stressful. A first date can be stressful, at least there is a positive outcome, insurance not so much… However, we have created a quoting experience that simplifies and white gloves the whole operation. It’s as easy as 1, 2, 3.
Of course, not all businesses are cookie cutter; in the case that some extended communication is needed to correctly place your business with a policy, we have added LavenderAlerts so you can stay in touch with your Lavender Expert all via text! The same way you chatted with your best friend while planning that first date.
Lavender is as risk-free as it gets. You get to use a product/service and access a time-saving insurance dashboard and gain free insight on how to improve your insurance and save money. No upfront cost, no contracts, nothing. It seems too good to be true but it’s honestly the way it should be.
Our team is a group of experienced software and insurance experts but we know it is impossible to build a great product without user feedback. That is why we are excited for you to hop on and provide us with your thoughts. If you ever have questions or comments on how we can improve as a team, product or service, please don’t hesitate to reach out via our onsite chat/survey or by email at firstname.lastname@example.org!
Thanks for the read and keep building those businesses!