As Curricula has grown since its inception in 2015, so has its insurance needs. “Most of our larger contracts require professional liability, technology errors and omissions and cyber liability insurance,” explains Nick Santora, CEO of Curricula. “Being in the cyber-security space, we hold quite a lot of data about our clients’ employees and have to protect ourselves from a data breach on our end. We need to practice what we are preaching!”
As Santora searched for a new insurance provider who understood Curricula’s niche cyber industry, he found that most were more focused on sales and not too knowledgeable of the detailed insurance policies it required. Until he spoke with Layr, that is.
A Highly Informed Commercial Insurance Team
While the Layr platform is digital, its team puts a strong emphasis on providing personable, quality service to its customers. Every member of the Layr team is well-versed in the commercial insurance requirements of modern-day, technology-forward businesses—knowledge that trickles down from the top. For the majority of his career, Co-Founder and CEO Phillip Naples was a commercial insurance broker who focused heavily on technology businesses.
“Layr isn’t just another insurance broker pushing paperwork. They took the time to learn our business model and answered detailed questions about our coverage,” Santora says. “They looked at our entire policy, how it was underwritten, who handles it, why we have the coverage that we do and our coverage areas, all while explaining the whole policy to me in a way that makes sense. I find a lot of benefit in how informative they were. I didn’t get that from their competitors who were just selling the policy without truly understanding our insurance situation.”
“We regularly talk about how the Layr experience includes optional human contact because many of our customers, with the help of our technology, get the right business insurance for their companies without speaking to us. However, insurance is a critical layer of protection and despite our digital process, there is a team of licensed and knowledgeable insurance experts behind the scenes ready and willing to learn the unique risks our customers face,” explains Phillip Naples, co-founder and CEO of Layr.
Unique Payment Terms That Benefit Small Businesses
While the team at Curricula was impressed with Layr’s customer-centric approach and level of expertise in cyber insurance, that was just icing on the cake. Layr’s monthly credit card payment offering was what actually sealed the deal. “Monthly credit card payments for our policies smoothed out cash flow. This unique feature allows us to continue operating our business without worrying about a huge upfront cash payment at renewal time once a year,” Santora notes.
“In speaking with founders and business owners across industries, the cash flow burden created by pay-in-full requirements was universal. The modern business owner needs the ability to pay for insurance the way they pay for every other business service: monthly and with a credit card. We meet that need,” says Andrew Egenes, co-founder and head of product of Layr.
Santora adds, “As a startup founder, you would be silly not to choose this company. No other insurance provider is doing monthly payments. Everyone wants you to pay cash out of bank account upfront for the whole premium.”
The combination of flexible payment terms, cyber insurance expertise and polished customer service made Layr the right commercial insurance choice for Curricula.