(Image source: Ranger homepage.)

Ranger, a startup styling itself as an agent-first insurance technology company, has announced its launch in Arizona, the first state in a multi-state national rollout. Ranger describes itself as the first InsurTech to elevate the role of the insurance agent with a full-stack software solution, enabling them to become their customers’ trusted advisors. The company reports that it has agents where it does business and is actively recruiting throughout the state.

Arizona is the 5th fastest growing state by population in the US, up over 14 percent since 2010. As of June 2022, Arizona had the second largest housing price appreciation among all states between the first quarters of 2021 and 2022, at 27.5 percent. The homeowners in Arizona, on average, spend 43 percent of their income on their home. A statement from Ranger says that, as home values increase, homeowners are more likely to be underinsured, putting them at risk of losing their greatest asset. Ranger agents are uniquely positioned to help their customers navigate the complexities of under insurance and believe risk assessments should be completed annually.

“Arizona has five of the fastest growing cities in the US with property values exceeding twice the national average,” comments Greg Garrison, CEO, Ranger. “This rapid change in home values in a short period of time is resulting in many homeowners unknowingly underinsuring their homes by $100,000 or more and putting at risk their greatest financial asset. We created Ranger to help families avoid these common mistakes with insurance. Ranger agents are experienced and provided with the tools they need to help families with more than just home insurance coverage. They can guide them expertly through the complexities of all of the policies our customers need.”

Ranger explains its business approach by noting that while insurance agents typically generate 90 percent of the $100 billion in annual homeowner’s premiums and 80-90 percent of families still use an agent to purchase home insurance, but that is not reflected in how agents are being treated by insurance carriers. Ranger says that, while focused on offering only best-in-class consumer property/casualty insurance products, the company delivers better outcomes for customers by optimizing the insurance agent experience through a modern-day vertical software solution. Ranger says that, rather than being an afterthought, its agents become the arbiters of advice, insights and expertise in home and family protection.

“I became a Ranger agent because I wanted to be more than just a salesperson for the insurance industry,” comments David Mitchell, a Ranger agent based in Phoenix. “I fundamentally believe that an insurance agent should be a trusted advisor, and by focusing on long-term relationships with our customers that is exactly what Ranger is doing. I’ve had many roles in insurance prior to becoming an agent, and it was when I worked in claims and dealt firsthand with customers who were finding out during a claim that they were underinsured or their policies didn’t fully cover them, that I decided to become an agent to better advise and help customers.”

Ranger says that insurance agents that work with the company are able to:

• Get paid via a unique compensation model that rewards agents for how well-protected clients are and their ability to foster relationships that generate referrals.
• Be more client-centric using technology that replaces antiquated manual transaction workflow with an all-digital platform that is DTC competitive, automates administrative tasks, provides instant access to underwriting support, and predicts customer needs over time to service them at a higher level to retain trust and foster long-term relationships.
• Earn more via increased productivity and exclusive marketing tools to generate better leads, maximize cross-sell, and personalize client services in real-time.
• Achieve holistic business training with an ultra-efficient platform to help agents transition from individual producers to business owners, should they have the aspiration to scale beyond their own individual production and build their own agency on the Ranger platform.

Ranger raised $5.25 million in a seed round announced in July 2022, led by industry veterans and backed by major investors including Lerer Hippeau, Alex “A-Rod” Rodriguez, Montauk Ventures, and others.

“When I look for a company to invest in, I look for category disruptors. Ranger is the future of modern home insurance,” comments Rodriguez.

Ranger Raises $5.25 Million in Seed Funding Round