Start-up Branch Insurance Launches Reciprocal Exchange in Ohio to Lower the Cost of Insurance – Insurance News Net

21August 2020

PR Newswire



COLUMBUS, Ohio, Aug. 21, 2020/ PRNewswire/– Columbus-headquartered insurance coverage startup, Branch, previously operating as an MGA, has just released the Branch Insurance Exchange in Ohio to further reduce the expense for its members. Branch boasts the quickest way to bundle home and vehicle insurance coverage, needing just a name and address to get a bindable price in seconds. Just weeks after its $ 24M Series A statement, Branch continues to innovate its company model and produce new ways for customers to conserve.< a href="https://mma.prnewswire.com/media/1231900/Branch_Google__Standard_V4__1x1.html"target="_ blank"rel="nofollow noopener noreferrer”> Branch is powered by community, and as the first reciprocal exchange released in Ohio in 75 years, it further disintermediates the insurance coverage worth chain, producing even cheaper insurance coverage for its members. The Branch Insurance Exchange is owned by its members and expertly handled by Branch for a low, set 5 % fee. Clients consent to become a member of the Exchange when they acquire a policy with Branch. As the facilitator of the community’s resources, Branch puts members’ premiums aside to pay for the community’s costs and claims. While other insurance provider are created to answer primarily to investors, this reciprocal exchange was created to answer just to its members, which keeps expenses low and creates delightful client experiences from purchase to claim. Enhancing its mission of making insurance coverage cheaper, Branch will return unused funds to members through vesting dividends. These funds can then be withdrawn, accentuating that members are owners of the Branch Insurance Exchange and rewarded for loyalty as users.

Cision

Cision “Branch is a community of individuals who pool their little resources so that an unfortunate member who suffers a loss isn’t at threat of falling off their life’s financial trajectory. Branch is fortunate to be the facilitator of that community,”shared Cofounder and CEO Steve Lekas. Branch prepares to release the Branch Insurance Exchange in the four staying states where it operates and throughout the nation as it continues its nationwide growth. About Branch Branch was established in 2018 by insurance coverage veteran Steve Lekas and tech business owner Joe Emison. Branch taps into the power of community to make insurance coverage available and affordable for everybody, utilizing innovative technology makes it easier than ever to conserve cash by bundling House and Automobile Insurance in seconds. Branch Insurance has released in 5 states (AZ, IL, MO, OH and TX) and is underwritten by General Security National Insurance Company (GSNIC) an AM Best A + Monetary Rated insurance provider and is headquartered in Columbus, Ohio. CONTACT: Ally MajewskiBranch Financial, Inc. [e-mail protected]

View initial content to download multimedia: http://www.prnewswire.com/news-releases/startup-branch-insurance-launches-reciprocal-exchange-in-ohio-to-lower-the-cost-of-insurance-301116365.html SOURCE Branch Insurance Source: insurancenewsnet.com

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