Neil Patel

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Bruce Lucas took his first startup from zero to being a billion-dollar public company. He has since raised more than $100M in funding for another venture. One which he sees as being recession-resistant. The company, Slide has attracted funding from top-tier investors in November 2021.

In this episode, you will learn:

  • Slide, and how it stands out in the insurance space
  • How homeowners can save on and optimize insurance
  • AI in startups
  • Recession resistant businesses

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    About Bruce Lucas:

    Bruce Lucas is the Founder, CEO at Slide. Bruce Lucas attended Indiana University Maurer School of Law.

    As Founder, Chairman, and CEO of Heritage Insurance, Lucas took the super-regional homeowner’s insurance carrier from inception to IPO and beyond. After maintaining profitability and stability every year of his 9-year tenure, he left the company to pursue the next big opportunity in insurtech, which he believes is the future of insurance. Lucas envisioned leveraging data and cutting-edge technology to transform all aspects of the insurance process, including operations, claims, underwriting, customer and agent experiences.

    To deliver on his vision of Slide, he joined forces with a network of insurance, technology, data science experts from marquee companies like Amazon, Facebook, Progressive, and eBay. He also forged a data partnership to give Slide a dataset in excess of $5 trillion total insured value. Building AI, machine learning, and data science capabilities on Big Data is the key to Slide’s technological advantage. It is impossible to have credible artificial intelligence and machine learning without it. With a dataset larger than any other insurtech competitor, Slide is positioned to make better underwriting decisions and provide more options for homeowners.

    Curated by deep data science, Slide’s cutting-edge technology will streamline and hyper-personalize every touchpoint in the value chain. Behind the scenes, it powers better underwriting decisions, streamlines operations, and optimizes profitability. On the front end, independent agents and customers have the flexibility to design insurance on their terms with the slide of a button.

    Slide completed an oversubscribed $100 million Series A in November 2021 and through acquisition of the St. John’s book, Slide became the 3rd largest insurtech in the market in March 2022.

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    Connect with Bruce Lucas:

    Read the Full Transcription of the Interview:

    Hey, guys. Today’s episode is brought to you by Zencastr. I remember back in the day when I was looking at putting together Zencastr. I was looking for a solution that would help me in putting things together. Essentially, this is what allowed me to bring DealMakers to life. Basically, Zencastr, what it is is an all-in-one solution where you just send a link to the person that you’re looking to interview. They would plug in their computer with their video, with the audio, and then you are good to go. You would piece everything together, give it to your audio engineer or even edit it yourself, and you are off to the races. Now, if you’re looking at getting into podcasting, you should definitely check Zencastr out, and you could also get a 30% discount, and this is the discount code that you will be able to redeem by going to Zen.ai/dealmakers0. Lastly, I was very much blown away when I found out that investing in wine has been one of the best-kept secrets amongst the wealthy. This is now not the case anymore. I came across this solution, which is called VinoVest, and they are a great solution that allows you to diversify investing by implementing or including wines into your portfolio. Take a look at this: wine has one-third of the volatility of the stock market, and yet it has outperformed the global equities market over the past 30 years with 10.6% annualized revenues. It’s a really good way to diversify your portfolio, and you could also get two months of free investing by just going to Zen.ai/dealmakers, and by going there, you will be able to redeem your discount.
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    Alejandro: Alrighty hello everyone and welcome to the deal maker show. So today. We have a pretty interesting guest a guest that has done it before he took his last company public and a remarkable journey. But right now he’s doing something very exciting and we’re gonna be talking about it. Today in addition to talking about his journey. So I guess without farther ado let’s welcome our guests today Bruce Lucas:::welcome to the show. So originally born and raised in Indiana so how was life growing up there. Give us a walkthrough memory lane.

    Bruce Lucas: Thank you Thanks for having me.

    Bruce Lucas: Yeah, it’s very simple, upbringing. We we grew up in a house with 6 people. My dad had a fifth grade education. He drove a truck for 30 years my mom has a ged you know, very very humble, kind of Indiana background and roots. No silver spoons. You had to work for everything that you had in life and that work ethics stayed through me up until the present day.

    Alejandro: Nice now you stay in Indiana for quite a bit. So so why did you I mean typically in the us you see here people going for college. You know they go 1 state or to the other to the other side of the country. In your case, you stayed in Indiana not only for college but then also for the Jd I mean it took a while for you to to perhaps leave the surroundings of your home.

    Bruce Lucas: Yeah, and and that was really a reflection of the price right? I had in-state tuition coming from you know, a family that didn’t have a lot of money. Um, I had to work my first two years and save up to go onto campus so I did a community college the first two years save money went to iu bloomington for undergrad and and stayed for law school because you got the benefit of in-state tuition which is. The only thing I could possibly afford.

    Alejandro: Now in this case, why why becoming a lawyer. Why.

    Bruce Lucas: I knew I was well so since I was a kid I had a fascination with geology and law don’t ask me why but I loved them Both still do so undergrad major was double major in geology and Environmental Science. And then I realized you know what? what you get paid as a geologist isn’t isn’t enough to pay the bills and so I said okay I’ll follow my second passion I’ll go to law school at least you have an opportunity to get ahead and make connections and you can translate the law degree into the business world every single day. And and so I went that route because it had greater upside.

    Alejandro: And you landed in New York City at a pretty big firm and that is wild gotcha and there you were involved in a pretty big bankruptcy proceeding tell us about that first.

    Bruce Lucas: Yeah, so I you know as ah as a baby attorney I started with wild gotcha in 2003 I was actually headquartered in their Houston office had an office in New York and then had another office in London and. Kind of go between the 3 cities as needed. But yeah Enron was our client. We did their chapter eleven. So at the time the largest most complex chapter 11 ever and I went to that firm specifically to do the enron case. It was it was an opportunity of a lifetime and I wouldn’t be where I am today without that case.

    Alejandro: Now in that sense I mean it sounds like the business side of things was always there for you right? I mean you obviously combine law with business but at 1 point you decide that maybe the number side of things is probably more appealing.

    Bruce Lucas: Yeah, yes.

    Alejandro: So what? what happened there.

    Bruce Lucas: Yeah I was it was back in 2008 and you know I was at wild gotcha and um, you know in order to become a partner at that firm I would have had to move to New York and that’s not something that I was looking to do and. At that time I had a 5 year old son and just kind of coming from Indiana on the simple upbringing I I really didn’t want to raise my son in Manhattan no offense to people who do it’s just that was my personal choice and um, no I I had always had an interest in in just getting out of law and moving to the business side. So early 2008 I came up with a thesis around short energy and you know I’m in golf coast enron Houston Texas I’m at the I’m right at the epicenter of Golf Coast energy and if you remember back then oil was one ah hundred and eighty dollars a barrel gas was seven bucks a gallon um you had a housing crisis that was just starting to really show. Its its true extent bear stearns had just failed and it didn’t take a genius to look at all the indicators and understand that we’re headed toward a recession. And being a bankruptcy attorney I understood the cycles and in a recession energy crashes and so the more I dug into it the more I saw that the magic number was one hundred and twenty dollars a barrel for oil once you start getting below that. That number most of the the loans out there to Gulf Coast companies go into default. They’re on serviceable bankruptcies are going to happen. So I I came up with a business plan I pitched it to a Cargill subsidiary. And we formed a hedge fund infinity investment funds focused on distressed energy deals that was the first kind of quantum leap out of law under the business world.

    Alejandro: I mean no kidding I mean you are here on 1 of the biggest law firms in the world and then then all of a sudden you you take the leap but you ended up taking another leap so you go from like you went from corporate very corporate to corporate but on a little bit less corporate and then into like. Full-blown startup mode. So why? Why did you go ahead with that transition. What was that the journey like okay

    Bruce Lucas: Yeah, yeah.

    Bruce Lucas: Yeah I mean the the the hedge fund deal. You know we signed a 3 year contract and I I think after eighteen months it was over and we just made so much money in such a short period of time I didn’t really want to stay in that situation of having basis risk and. Prices were starting to move back up again once the world didn’t end and money flowed back into that sector. So I just saw a good exit opportunity and I took some time off to recharge the battery spend more time with the family and and especially my son and i. You know, got bored pretty quickly I mean I I thought okay I’ll retire for a few years six months in I was like I can’t do this and so I started looking for my next opportunity and you know I’m great with numbers I understand kind of yeah if you can read the numbers and read data. They tell you a story and. What I saw at that time was an opportunity in Florida homeowners insurance. We had a lot of things happening that were very positive. We had citizens insurance which is the state run insurer had one point five million policies and they’d let you come and just cherry pick whatever you wanted right? Just take it out. So you could instantly get hundreds of millions in revenue and the numbers there looks fantastic and then our number one expense in insurance is is reinsurance and we were tracking capital inflows into bermuda on the on the tail end of the great recession. And what we saw was an imbalance we saw just ah, oversupply a capital and as a result we had a thesis around you know, reinsurance, pricing declines and that turned out to be accurate. It dropped 20% a year or 3 years in a row and so you throw that into the bottom line that was it was a huge upside opportunity. So I just saw a great opportunity put together a plan raise $60,000,000 and jumped in with both feet.

    Alejandro: Because what ended up the business model of Heritage insurance. But what we was the business model there of Heritage insurance.

    Bruce Lucas: What was that I didn’t hear the question. Oh it was. You know we would start by taking policies out of citizens in Florida and then we would transition to a voluntary writer of homeowners insurance and and eventually spread out of the state of Florida. So. That’s what we did we we hit the takeout opportunity pretty hard in 2015 just two and a half three years into the business plan I started my multi-state expansion. Um I did some strategic m and a I bought ah the largest homeowner carrier in Hawaii which is zephyr insurance. Started writing business in the southeast states and you know our plan was just to continue to grow the homeowner line and be a super regional carrier which we did and then along the way we we didn’t get very far into it. We made so much money the first several years that we we ended up taking the public. The company public on the knees and so you know things really exploded from that point in time because we had excess capital to support the growth.

    Alejandro: Now What was that experience like of taking a company public. So.

    Bruce Lucas: It was horrific. It was the most mind numbing experience of my life. You know you you have to sit with the underwriters for I think it took us about four months to sit through the underwriters meetings due diligence etc. Um, then you have to do all thecc filings and then once you get approval you you start your road show and back then the roadshow were in person so you’re literally flying from city to city to city over a two week period you might be in 25 cities and you know there were times I’d wake up in the middle of night I had no idea where I was I thought I was in a hotel room and somewhere in Texas and I was in a hotel room in San Francisco and you get out of bed to get a glass of water or whatever and run right into the wall. You know you’re just. Running on fumes at the end of that process but it was a very surreal experience for me, you know, kind of going through that finishing the roadshow and I’ll never forget standing outside of the niece watching the huge banner kind of blow in the wind of heritage insurance. Ah, the night before Ipo that was that’s when the moment really hit home for me.

    Alejandro: That’s amazing now. Eventually you ended up you know after after quite a while because you know this journey was about almost nine years you know for you? How was that process where you realized that they maybe it’s time to you know turn page and.

    Bruce Lucas: Yeah, that was a tough decision and 2015 I signed a long term extension with the company and that was a five year contract and it was going to end in 2020

    Alejandro: And move on.

    Bruce Lucas: And you know I I always told shareholders and the board I would stay on through the end of the contract and then we could reevaluate and just kind of see where things are and I fulfilled that promise. Um, all in all I I was at heritage 9 years and in that nine years we had an impressive run. Yeah, we had 500,000,000 in pre-tax profits. We were profitable every single year and for a coastal homeowners insurer that’s I think we’re the only company that did that in that span um grew the company from startup to one point one billion in revenue form strategic relationships with. Geico liberty mutual safe. Go I mean just on and on and on by every metric when you looked at heritage. It was an absolute home run 99% of entrepreneurs that start a company like that are gonna put the rest of their career there because it doesn’t happen often. I’m a little different I need the challenge I I like to build companies I like to reinvent business models. Do things differently? Um, and as I was sitting in my office in 2020 and I’m looking at yet another extension from the company. I knew I wasn’t going to take it and it was a ah lucrative extension but I wanted to do something new I wanted to do something in the technology sector and I wanted to reinvent the way the insurance process works and I knew to do those things I’d have to start from scratch because it’s ah. Thousand times harder to take a stoic institution that’s built on old world ways of insurance and make that into a modern insure tech and so I I passed a range to my good friend Ernie Gurita who had been with me for 9 years and took about a year to to formulate the business plan and then I launched slide in the fourth quarter.

    Alejandro: Wow. So then how did the idea of slide come to you.

    Bruce Lucas: Yeah, it. It came to me in bits and pieces and you know I think what’s what’s different about us versus the rest of the insure tax sector I think the the predecessors in this business. They they just come at it from a tech standpoint and then they. My opinion. They’ve tried to adopt or adapt insurance to the technology. My approach was a lot different I was looking at what they were doing and really scratching my head saying that’s none of this stuff’s going to work. Um, you have to adapt the technology to the insurance model. And so it really started by kind of looking what some of the you know the lemonades hippos of the world were were doing and just looking at it through the insurance lens and saying I think it has to be done differently and that was kind of the first thought I had in that process back in. You know, call it early 2020 and the more I thought about it the more I thought about what are the unique challenges. Um, how do you reinvent insurance at like a microcosm level because that’s where the value ad is it’s not in putting a chat bot on um, it’s. It’s in actually changing the plumbing of the insurance carrier so that it’s tech enabled more efficient more profitable and I knew that you know we had to have Ai in the mix. A big part of what we’re doing is Ai and I knew I’d have to solve for the data deficiency. Ai is not really worth anything without massive amounts of credible data to support it and so I started thinking about all these different pieces like I said it took me about a year to put it all together and solve all these different problems and you know how I’d organize and structure the company. And um, that was it just happened over a long period of time.

    Alejandro: So then for slide. How do you guys say make money. What’s the model there.

    Bruce Lucas: Yeah, it’s I believe insurance is an ecosystem and I think you have to control that ecosystem whenever however, possible. So for us. We are full stack that means that we are on risk as the insurance carrier. Um, you know, knock on wood. Hopefully we make an underwriting profit. We have an mga that is extremely profitable. Um, we’ve already taken our our technology approach and signed four Sas deals with other insurance carriers. Hopefully there’ll be a fifth to announce soon. Um, you know we’ll we’ll do a captive reinsurer where we can make good margins I did that for 9 years at heritage. We’ll have an in-house agency that’ll write direct to consumers but most of our business is going to be through independent agents because I do believe in the ia channel something different about us. But you take all these different pieces and you put them together on a consolidated basis and what you’re doing is creating an insurance ecosystem where you can’t make money on different aspects of policy creation and servicing.

    Alejandro: Now you had the experience of having built before a 1,000,000,000 plus company. What was perhaps that lesson that you learned about people because it’s all about people and and the team that you build around you. Was that lesson that you learned that you absolutely knew that you were you would implement in this jury with slide around people.

    Bruce Lucas: Yeah I that’s a great question I’d say on the employee side. What I learned about people is that you you want to hire people who have a lot of fire a lot of passion that don’t have a clock who are compassionate people. Um i. I have a no jerk rule at the company I don’t want yellers and screamers and people do office politics I’d say on the agent side I what I’ve learned about agents over the years is that they they just want the truth. They want straight shooters. They want to say. Are be told kind of what you’re willing to do what you’re not willing to do and they’ll create business to fit that and on the policy holder side I’d say that what I’ve learned is most people are inherently honest I really truly believe that I think in Florida 99% of the problems began. When a third party gets involved in the insurance process usually a public adjuster an attorney a contractor people who don’t necessarily have the moral scruples that I would have or my colleagues have. And so you you have to make sure that you’re addressing people in multiple formats know your audience right? your your audience wants different things at different points in time and you you have to learn how to manage all of those pieces together.

    Alejandro: Now as you’re thinking about people too. You know people has to do with money and you guys have raised quite a bit of money. How much capital have you guys raised today.

    Bruce Lucas: Yeah, we we had a we had a pretty historic a round we we raised 106,000,000 of equity on the a round and um, you know that was fourth quarter so that not that long ago. But it’s already fully deployed. Yeah I had a lot of people telling me in the process that’s too much money. Why do you need all this capital. Why don’t you do it in small pieces just like everybody else does and and you know my answer to them was always well. I’m just limiting market opportunity. There’s huge market opportunities out there right now which is one of the things that’s compelling about the business plan and if I don’t have the capital to take advantage of the market opportunity. We’re not going to get the upside of it. Um, you know it’s it wasn’t enough and. You know here we are. It’s March fifteenth so we’ve we’ve only been around for a few months we’ve already fully deployed one hundred and six million we’ve already done 1 incredibly accreative transaction generating 400,000,000 in recurring revenue. Um, you know you you need. Lots of capital in this business, especially when there’s opportunities that are out there in the market that don’t come around very often timing’s everything and so I’m very I’m very proud of that capital raise it was historic on every level. But I’m even more proud that we were able to deploy it in such a meaningful way in such a short period of time.

    Alejandro: Do you think that the fact that you built a company from nothing to over a billion in revenue was a little bit helpful to to close that round. Ah.

    Bruce Lucas: Yes, track record yeah track record matters right? And um I think investors in this sector they they’re they’re migrating away from insure tech 1.0 and in sure tech 1.0 are all the kind of. And I’m not saying they’re all this way. But for the most part they have no carrier operation experience at all. It’s a miracle if they have any type of insurance operation. But in particular insurance ah insurance carrier experiences. The number 1 thing that you need when you’re full stack and honestly I think there’s only 2 companies in the entire sector that have that it’s it’s slide and tiptap we’re the only two I say whatever you want about? you know the insure tech market but I could say these 2 companies truly understand insurance. Um. And and so investors now are more focused on what I refer to as in sure tech two point. Um, which is I think the next quantum leap in the space and we’re the first company in the 2.0 kind of revolution and it’s an insur tech whose business. Plan operations model experience etc comes from the carrier side of insurance because they truly understand every little single thing in the in the in the infrastructure how it works why it works how it relates to the other parts. And you need that domain knowledge in order to create technology that enhances that operating model and so it was very very big for us coming into this raise with my track record running and and a large scale insurance carrier across 15 Coastal States um track records actually matter and that made it a heck of a lot easier There’s no doubt about it.

    Alejandro: No kidding now in this case when you do an a round you know there needs to be like some validation you know like a traction I mean you guys just just got out there I mean it’s it’s it’s incredible like remarkable in this Sense. You know the question that I wanted to ask you is How did you go. About storytelling in a way in which they were able to really understand the canvas with the same colors that you had in your own mind because that’s very difficult to really convey and to do it in a way in which it’s very tangible for the investor to really take that bit.

    Bruce Lucas: Um, yeah.

    Alejandro: You know at these levels that we’re talking at when there’s really not that much to really show that.

    Bruce Lucas: Correct and really the only thing that I had to show on day one um, other than my resume and track record I had a phenomenal partnership signed with heritage insurance. My old company. And that was not easy to do. They were pretty tough negotiators and um I knew kind of going into this slide journey that Ai had to be a central part of what we do and you know, ah you hear that. Kind of phrase bandied around all the time. Oh we have artificial intelligence and machine learning. We’re we’re different and then you ask them? How are you using it. We’re we’re using it in the underwriting process like general statements and I know Bs when I hear it. And I know for a fact that none of those companies have real Ai that do anything meaningful and the meaningful side of it is loss ratios and reinsurance and they don’t have the data to do anything in a statistically credible fashion. And without the data you really? You’re just like throwing darts out of dartboard and so I knew I had to solve for that and my my first foray here was to approach heritage and and cut a deal where we partner up and you know they they ended up taking a piece of the equity at slide and. They were willing as a result to share their data and and do a saas deal and the data that I had in place was immense. It was two point seven trillion dollars in Tiv Plus Fifteen Years of historical claims data to put that first deal in perspective. Take the entire full stack and sure tech industry all the homeowner carriers that are out there. Add them up collectively. They are a fraction of that number right? So it’s an immense statistical advantage I think investors really bought into that they really saw the the power of data and what you can do with it and why it was. Such a ah huge competitive advantage. Um, you know so we’ve just built on it since then since signing that deal we actually have over 5000000000000 in tiv data now and 20 years of historical claims information. And you know I can’t even begin to add up like what an advantage that is over the market 50 times 70 times I’m not sure, but it’s huge. Um and so we’ve kind of followed that storytelling with actually doing the things we talked about and and that’s been very helpful as well.

    Bruce Lucas: But you’re right? It’s hard to tell the story and you know when you’re in a startup mode. You’re you’re truly a startup I had a resume I had a I had a nice partnership with heritage and I I think I was able to clearly explain to investors what we were doing why we were doing it how we were doing it where. And you know what the capital would be used for and and and you know how would we be deployed and investors just they bought into it because you know they’ve seen the track record they see the vision they see where we’re going. Um, you know that made it a lot easier

    Alejandro: Now Imagine you go to sleep tonight and you wake up in a world where the vision of slide is fully realized what does that world look like.

    Bruce Lucas: Yeah that’s a great question I’d say somewhere in the neighborhood of 10000000000 to 20000000000 and an annual premium. Um coast to coast multilines not just homeowners but auto and small commercial etc. Um, and extremely profitable and and having an an underwriting process that is that is automated and driven by data and artificial intelligence. That’s where this industry is going. I I think that too many for too many years the industry’s just been operated the same way I agree with in sure tech one point zero. It’s a stoic business as it changed much in hundred years it’s highly fragmented etc. I think what this market is waiting for someone that can come along. With a statistical advantage on data like we have to apply that in a way to automate the underwriting process through artificial intelligence and generate profitable business at the end of the day and um, that’s. That’s where we are and I do expect us to be profitable I I just don’t want to settle for anything less than that I’ve I’ve never had a full operating year where I didn’t make a profit including a startup here. So knock on wood. Hopefully this year is is the first step on that journey toward. Behemoth that I know that we can become but I’ve got very grandiose ambitions for this company and I think we can get there and I think we can get there faster than anyone’s ever done it before because we’re starting out with such a big advantage with capital and data.

    Alejandro: Nice now. Imagine you had the opportunity of having a chat with that younger Bruce I’m taking you back in time to maybe that moment that you were thinking about making that leap from the hedge fund to heritage and you had the opportunity of having a sit down. That Bruce that younger Bruce and giving that younger Bruce one piece of advice before launching a business. What would that be and why given what you know now.

    Bruce Lucas: Yeah, it would have to be spend extra time on the business plan. You just I can’t there’s 2 things that you need right in my opinion you need a rock solid business plan. Um I look back at heritage I had a great business plan. But. Nothing of the detail of what I have that slide. Um, and you know I I think I could have done even better at heritage had I spent more time focusing on where am I going to be in five years ten years fifteen years rather than where am I going to be next year and so you have to have a longer term business band a longer-term vision that is flexible that you can move in and out of and I’d say the other thing I’d I’d I’d make sure to emphasize and I probably knew this even the younger Bruce version which is timing is everything. And you could have the best business plan in the world. The best team tons of capital and if your timing is is ill-advised you’re just not going to do well you can have a mediocre business plan and circumstances internally and be at the. Best timing possible. You could do extremely well so it’s it’s really a combination of understanding where markets are and formulating what the timing is for the different aspects stages of your business plan because what works in the first 3 or 4 years might not work in years. 5 to 7 and so you’ve you’ve got to understand the timing of markets and and what’s going on there kind of see the future and then form your plan to fit that.

    Alejandro: Now one bonus question because you’re obviously an expert. You know you’ve deald with the micro cycle market cycles. You’ve been a bankruptcy attorney attorney in the past and it sounds like timing things say something that you’re good at so I guess. Given what we’ve seen now with covid now with the war you know with Russia and Ukraine and obviously market goes in cycles. We’ve been in this bull you know market for a while where do you see things you know heading I mean have you seen any trend or anything there that maybe you know founders that are listening should be.

    Bruce Lucas: Yeah I think we’re hyper. Inflation’s here to stay I’ll say that I don’t think that’s going away anytime soon and you know that that can impact your business in a lot of different ways I mean Fortunately, for insurance we’re kind of recession proof.

    Alejandro: Aware of.

    Bruce Lucas: It’s a product you have to have it if you have a mortgage you have to have homeowners Insurance. So you know I look at Market cycles and recessions like Covid Cycle. For example, you know our economy crashed we had record growth at Heritage. During Covid Yeah, it’s a product you have to buy I Love that about Insurance. It’s not nearly as sensitive to to Market Undulations and economic cycles as other kind of consumer driven spending businesses are.

    Alejandro: Yeah, yeah.

    Bruce Lucas: Um, but I do think that what the future holds particularly in Florida I think you can expect your your homeowner’s insurance premiums to skyrocket for the next 3 to 5 years and I think inflation in general is going to be around for a while I mean. It’s just a fact we’re at a 40 year high for inflation and that doesn’t look like it’s a baiting at all. So I think that you have to plan your business around that and and for us we have to be understanding of the fact that. There are some people that just might not be able to afford the product anymore. That’s probably the biggest risk factor and what that does to families. So you’ve got to come up with creative solutions for them. Maybe they compromise some of their coverage that they normally would get to reduce that premium bill. Their home is. Likely their largest asset that they own and you know it has to be insured and protected and so that’s something that I’ve thought a lot about at slide in the business plan is you know where do I see economic conditions moving as we go forward I thought inflation was absolutely going to happen. I’m shocked at how much it’s gone up I mean it’s pretty amazing. Um, but you know we wanted to plan a bespoke policy for the homeowner where they could pick their coverages and maybe there are coverages that they just don’t need. Or maybe they should take higher deductibles things simple things that you can offer them that give them more options more choices lower premium and then their dollars can go further on everything else in their life. That’s running up in cost. And that’s why we always said you know slide is your insurance your terms. It’s a concierge kind of bespoke type setup where we’re we’re just giving greater empowerment to the consumer to find a policy that fits their budget.

    Alejandro: So for the people that are listening Bruce what is the best way for them to reach out and say hi.

    Bruce Lucas: Yeah I would say you could contact us you know we we’ve got ah a contact in for web. So ah, contact in email on our website. That’s probably the best way and all those eventually get routed to me so you know we’re still a pretty small company. Um, you know I I want people to reach out I talk to agents every day I talk to concern homeowners all the time you know, go to our website contact us and send us an email.

    Alejandro: Amazing! Well hey Bruce thank you so much for being on the dealmaker show today.

    Bruce Lucas: Thank you I Appreciate the time was it was enjoyable. Thank you.

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