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About
Path Insurance Solutions is a Redmond, WA-based insurance agency that primarily serves real estate investors across 43 states. They believe that purchasing and managing insurance policies should be a zero-hassle experience. That’s why Path simplifies the insurance process and explains coverages in plain English so policyholders know exactly how their money is being spent.
Challenge
Path Insurance wanted freedom from the regional and coverage limits of traditional companies
For over a decade, Path Insurance Solutions has provided exactly that — solutions for people who need insurance coverage, customized for their specific needs.
Tyler Kerlee, Path’s founder and principal, saw his agency was growing — but so were the complications within the business. The processes of getting quotes and issuances, as well as resolving underwriting issues, were becoming increasingly labor intensive.
To uncomplicate their processes and offer more regional options, Path needed an insurance company that would provide more access across states. Standard carrier companies like Travelers, Safeco, and AllState didn’t offer coverage in certain parts of the country. Tyler’s team wanted to see if there was a provider who was open for business across more of the US.
In addition, Tyler wanted to offer their clients more customizability than they were getting at the time. “Investors have different ideas on how they want to go about investing, whether it's a single family duplex, triplex, fourplex, short-term rentals,” he says. “So we like to have more options to give them the coverage they need for the location they're looking at — all at a competitive price while maintaining an ease of doing business.”
Prompted by these growing needs, Tyler began looking for a solution.
“The current insurance environment is a hard market, where binding restrictions keep many companies from writing business for outside agents. We need a good partner because we're in many states and we deal with a lot of investment properties and types.”
Solution
Steadily’s diverse risk acceptance helps Path serve more clients across regions and portfolio types
Steadily improved Path’s mix of offerings and cut the complexities involved in shopping and writing asset coverage.
Tyler saw that Steadily recognized opportunity in nuanced situations. Their willingness to create quotes and investor policies for a wider variety of situations outshined the larger legacy companies that automate their processes. Steadily showed a reasonable risk appetite for assets like less-than-perfect properties that could be fixed up and held long-term. Where other carriers wouldn’t bother accepting the risk, Steadily sees that a renovation policy would be appropriate, and might suggest switching it over to a landlord line later on.
As a new and more flexible partner, Steadily gave Tyler’s agents and their clients more asset protection options. Plus, since they service most states, they could lift the brokerage’s previous geographic restrictions as well. Best of all, it was a breeze for users to get quotes themselves, and at lightning speed.
The value of that speed — and the reliability of the information — can’t be understated. Steadily allows Path to embed the tool on their website so users can get the detailed information themselves within minutes. Investors use cash-on-cash calculators to evaluate assets in a snap. When assessing a property, they need a bindable insurance number quickly to make fast, informed decisions.
“It's easier for our customers to get a quote through Steadily than our other carriers because the process is more streamlined. It's a newer, more agile system that minimizes the time we put into getting these quotes back out to clients.”
Results
Both Path and their customers now save valuable hours and energy on more strategic work
Tyler’s team now enjoys easier processes with fewer complications and down time. Plus, they empowered their customers by providing faster, more reliable information to improve landlord and investor workflows. But even better than that ease of use is the time they all save to devote to more strategic work.
Here’s a snapshot of their results so far:
- 25% fewer hours spent creating quotes/managing policies
- 3x faster response time on support needs
- 16 hours saved per month
Tyler says that in today’s world of disconnected apps and tools, Steadily checks all the boxes for Path: A solution that sits directly on their site, with competitive pricing, great coverage, fast time-to-quote, quality service work, quick and clear communication in underwriting, and more.