With a three-year revenue growth of 109%, Bamboo Insurance ranks among America’s Fastest-Growing Private Companies.
Bamboo Insurance, a reimagined insurance organization offering a customer-driven experience through ease and innovation, today announced that Inc. has recognized the company as one of the fastest-growing in the nation for 2023. The prestigious ranking represents a unique, data-driven look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses.
“We’re incredibly honored to have gained a place on the esteemed Inc. 5000 list,” says Bamboo Insurance Founder, John Chu. “This past year has introduced unique challenges to those of us in the insurance space. As a company, we decided to approach those challenges as opportunities, and show up when our clients and partners needed us most. Landing on the Inc. 5000 list proves to us that, despite those obstacles we faced, our team’s hard work and dedication to our mission is deep-rooted. It’s a great honor for us to be on this list among so many of the best independent businesses in the nation.”
The Inc. 5000 class of 2023 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median three-year revenue growth rate ticked up to an astonishing 2,238 percent. In all, this year’s Inc. 5000 companies have added 1,187,266 jobs to the economy over the past three years. For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc. magazine, available on newsstands beginning Tuesday, August 23.
“Running a business has only gotten harder since the end of the pandemic,” says Inc. editor-in-chief Scott Omelianuk. “To make the Inc. 5000—with the fast growth that requires—is truly an accomplishment. Inc. is thrilled to honor the companies that are building our future.
About Bamboo Insurance
We’re a growth-oriented insurance organization on a mission to deliver an easy and innovative insurance experience with an unwavering focus on customer advocacy. We’re using data and technology to simplify the insurance process, while enhancing transparency for our partners and policyholders. For more information on Bamboo Insurance, visit our site at www.bambooinsurance.com.
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Bamboo Ide8 Insurance Services (Bamboo) is Managing General Agency licensed to sell property-casualty insurance products; NPN 18657046; AZ License #3000209096; CA License #0M31082. All policies are issued by Sutton National Insurance Company. Sutton National: NAIC #25798.
Bamboo Insurance Media Relations
Becca Powell
Director of Marketing
bpowell@bambooinsurance.com
More about Inc. and the Inc. 5000
Methodology
Companies on the 2023 Inc. 5000 are ranked according to percentage revenue growth from 2019 to 2022. To qualify, companies must have been founded and generating revenue by March 31, 2019. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2022. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2019 is $100,000; the minimum for 2022 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places.
About Inc.
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work reaches more than 50 million people across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.
For more information on the Inc. 5000 Conference & Gala, slated for October 31 – November 2 in San Antonio, visit http://conference.inc.com/.
bolt, the insurtech with the country’s largest technology-enabled insurance exchange, today announced a partnership with Bamboo, a property and casualty insurance organization that prioritizes simplicity, transparency, and savings. The partnership brings bolt’s smartphone protection product into Bamboo’s digital ecosystem, supporting their mission of delivering an innovative insurance experience.
Bamboo expands its once homeowner-focused portfolio with the addition of smartphone protection. As cellular devices have become an essential part of daily life, this product is the perfect complement to primary policies for existing customers, and for new policyholders, to ensure holistic coverage for their valuable possessions.
“We’re thrilled about our partnership with bolt, one of the leading coverage providers for smartphones,” said Taylor Mobley, Bamboo Insurance’s Chief Revenue Officer. “This unique offering builds on the foundation of Bamboo’s mission – to provide sensible coverage opportunities for our clients. Through this partnership with bolt, we’re able to expand on that by offering clients accessibility to affordable coverage also within the smartphone space.”
bolt’s smartphone protection is designed from the ground up to help insurers overcome complexity and meet the increasing demand for household level smartphone coverage. bolt’s turnkey solution is designed to be seamlessly integrated into existing agent and direct-to-consumer sales journeys.
“Aligned with Bamboo’s mission to deliver customers easy and innovative insurance experiences, we are proud to combine our brand strengths to fulfill a coverage gap for customers,” said Clayton Bodnarek, Executive Vice President of Alternative Distribution at bolt. “This underscores our commitment to design products that are easy for our partners to integrate, and even easier for their customers to access.”
Source: bolt insurance, AccessWire
AccessWire article link: Click here
The heat is slowly but surely creeping in, and it’s about that time to get your pool ready to take on some cannonballs. If your pool’s been out of service for the past few seasons, it’s time to start prepping for action again. With that, we’ve got some tips to help you start the pool season off the right way.
Inspecting your pool
And we don’t mean just testing the water. Dedicate a good bit of time to inspecting, cleaning, and reconnecting all pool equipment that’s been off duty the previous seasons. You’ll want to ensure they’re working properly for another long summer season. It’s also worth it to hire a professional to come out and inspect certain pieces of equipment, such as your pool filter and pump.
Cleaning your pool
Clear any debris that’s sitting on your water and vacuum the pool’s floor to remove any dirt that’s at the bottom of your pool. Keep in mind, this isn’t a one and done step – it’s recommended to do this at least once a week. While you’re at it, check your pool’s filter to ensure it doesn’t need to be changed.
Checking the surrounding area
Now that you’ve prepared your pool, it’s time to look at the surrounding area! If you have concrete or wooden flooring around the pool, check for any chipping or exposed nails that could be potential hazards. You’ll also want to double-check that your pool area’s fence is in working condition and the gate is able to be secured. And to keep those oasis vibes strong, hose off any dirty chairs or tables so your guests (and you) can sit back and enjoy your at-home pool.
Keeping swimmers safe
With a pool comes great responsibility – like the safety of those who swim in it. When children are among your guests, assign shifts so that there’s an undistracted adult supervising the pool at all times. Ask visitors not to run, to avoid diving, and to stay away from the drain. Where “pool rules” may take you back to your younger days and the lifeguard blowing their whistle at you for running at the neighborhood pool – it’s smart to not only have rules established for your own pool, but make sure everyone who visits knows and follows them. Signing up for a local CPR class is a big recommendation, too!
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If you’re feeling overwhelmed by the maintenance, try creating a pool cleaning schedule to make sure you don’t miss a beat when keeping your pool nice and clean. Pools are a large undertaking when it comes to care and maintenance. But dedicating the time to keeping up with it is all worth it when you and your loved ones are spending quality time together enjoying it, safely.
To find out if pool-related incidents are covered by your homeowners insurance policy, reach out to your Bamboo Advocate or contact us through the form on our Contact Us page to find out!
Bamboo Insurance, a multifaceted insurance organization delivering a customer-driven experience through ease and innovation, today announced the launch of its homeowners coverage in Arizona. Not only will they introduce sensible and affordable homeowners coverage options to residents of The Grand Canyon State, but also enhanced underwriting structures, convenient technology, and exceptional support.
Arizona homeowners and agents will experience Bamboo’s reimagined approach to insurance, that includes a commitment to simplicity, transparency, and customer advocacy. Because of its customer-driven methods, unlike other companies, Bamboo doesn’t cut out support resources to save money. Bamboo customers in Arizona will gain access to the organization’s superior support, like its experienced team of insurance advocates and trusted 24/7 claims service.
“The launch of our Arizona product represents an exciting milestone in our expansion outside of California,” said John Chu, Bamboo Founder and CEO. “By leveraging our proprietary underwriting models and easy to use technology platform, we’re able to offer customizable coverage, for the right price, to the Arizona market.”
Since 2018, Bamboo has established a niche for providing reliable, affordable homeowners coverage in disrupted markets. In states like Arizona that are susceptible to extreme weather conditions, finding dependable insurance is becoming increasingly difficult. By leveraging advanced analytics and proprietary underwriting models, Bamboo’s able to offer a refreshing new coverage option for Arizona residents that’s both reliable and affordable.
“When we started Bamboo, the vision was to push the insurance industry forward by providing quality products and coverage to our insureds,” said Jonathan Vitale, Bamboo Co-Founder and Vice President of Sales. “We paired that with a big emphasis on leveraging technology to deliver to our agents an industry-leading quoting platform that is focused on speed, ease of use, and simplicity. We’re thrilled to be able to bring that experience to Arizona.”
Arizona homeowners can start their quote by calling (833) 922-6266. Independent agents can learn more about offering the product by emailing hello@bambooinsurance.com.
To Our Valued Customers, Agents, and Business Partners:
Given the recent failure of Silicon Valley Bank (SVB), we suspect many of you may have questions as to the financial health of your partners, such as Bamboo. We want to take a minute and ensure you Bamboo is financially sound.
- We have no direct exposure to SVB: We are fortunate that we have no banking relationships with SVB of any type. We continue to monitor the rapidly evolving situation closely as we are aware of 6 vendors / partners who have a banking relationship with SVB. We have been in contact with these vendors and do not expect any service interruptions at this point in time.
- We have diverse banking relationships: Bamboo has relationships with multiple banking partners. We have our operating capital spread across these institutions. This ensures continuity of operations should such a failure impact Bamboo directly in the future.
- We use trust accounts: As a distribution oriented business, the vast majority of funds held by Bamboo at any point in time are in trust accounts, on behalf of our customers. By definition, trust accounts provide additional safeguards in the event of a bank failure above the $250 thousand FDIC insured limit.
Should you have any questions please reach out to myself or your primary contact person at Bamboo. We look forward to working with each of you over the coming days, weeks, and months ahead.
All the best,
John Chu
CEO