Getting a startup off the ground involves coordinating a vast array of behind-the-scenes logistics. One essential element is sourcing the right insurance that will enable you to conduct your business operations. When Carlos, co-founder of Austin startup Seekr, needed startup insurance, he turned to Bunker. Here, Carlos shares his experience as he continues to work with Bunker in growing his company.
With a long track record working for banks in a corporate role, Carlos always dreamed of running his own business. He took a decisive step towards this goal by launching Seekr together with his son, a University of Texas graduate. While his son runs the client-facing side of the business, Carlos focuses on the nuts-and-bolts: setting up contracts, making sure all paperwork is in order, planning and creating structure.
Seekr provides a variety of unique local experiences in the Austin area, offering offbeat adventures, classes, and events. As part of its marketing strategy, the company works with local apartment complexes to plan tenant events that enhance the atmosphere and promote the complex as a great place to live. Carlos also plans to expand into providing corporate events. Partnering with entities like these means complex contracts and insurance requirements are a key component of Seekr’s day-to-day business.
The Search For Insurance
Carlos had a lot of interest from complex management firms early on in his business, but they all asked for one thing – an appropriate certificate of insurance. Carlos knew commercial insurance was part of the cost of doing business, but he needed a company that would help him figure out the coverages he needed so he could focus on growing his business.
He soon found out that Seekr’s insurance needs were not readily available from standard small business insurance companies. It seemed logical that the apartment managers themselves or some of their other vendors would be able to point him towards a good source, but to Carlos’ surprise, this was not the case. Inquiring among insurance professionals in his circle also did not yield results, as they did not provide the liability coverage he needed. Finally, at his son’s suggestion, Carlos sought advice online from the Austin startup group, where he learned about Bunker.
Why Carlos Choose Bunker
Upon contacting Bunker and speaking with a representative, Carlos was instantly impressed with the swiftness of the response. He was able to quickly reach a representative who could provide him with the necessary information and start the process of obtaining coverage.
- Information: Not only did he find out he could obtain the coverage he needed, but he also received insurance guidance. As a startup founder just entering the market, Carlos had a lot of questions. Rather than being in the position of knowing what he needed and asking for it, Carlos came in asking if Bunker could help him meet the various requirements. Bunker knew exactly what he needed to further his working relationship with his target market and was able to provide it.
- Speed: The major factor that attracted Carlos to Bunker was its promise of speed. His conversation with our representative confirmed to him that our promise of proof of coverage within five minutes was solid. The last thing a startup needs is a slow paperwork process that stalls its ability to finalize contracts and move forward. With its rapid delivery of all necessary certificates, Bunker helped Seekr land a major contract and start building a productive business relationship.
- Cost Effectiveness: Another key issue for Carlos was cost. As a startup entrepreneur just launching his business, he had to be acutely conscious of getting maximum value for every penny spent. He was happy to find that the Bunker representative was able to quote specific, affordable prices for the coverage he needed.
- Flexibility: An additional major selling point was Bunker’s flexibility, which allowed Carlos to purchase coverage on a month-by-month basis. As his business grows and circumstances change, Carlos may need to buy additional insurance or drop some of his current coverage. Bunker’s policy allows him to reconfigure his coverage quickly, without having to incur additional fees or having to continue to pay for insurance he no longer needs.
After speaking with our representative and selecting his coverage, Carlos was able to quickly get his certificates filled out so he could submit them to the management company. Creating this relationship with a major company that manages apartment complexes throughout multiple states was a significant step for Seekr, opening the door to many other opportunities.
Looking to the Future
Seekr’s future plans include working with corporations to provide custom events for team building, client rapport and marketing outreach. Depending on its growth trajectory, Seekr may begin building a business base that reaches beyond Austin. We at Bunker look forward to accompanying Seekr on its journey and continuing to provide it with the right commercial insurance as its needs evolve.
Any successful relationship, whether personal or business, has trust as the bedrock of its foundation. Carlos continues to work with Bunker because he trusts our knowledge of his business needs and our commitment to helping him achieve them. Knowing we have his back gives Carlos peace of mind, freeing him up to run his company.
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