By Brianna Sacks

“This blows my mind,” the podcast host said. Was starting an insurance company in Florida really that simple?

It was February 2022, and Bruce Lucas had joined “The Insurance Guys” to talk about his new tech-insurance start-up, Slide.

But first, the Alabama-based hosts needed him to spell something out: If they too wanted to open up a carrier in the Sunshine State, they “could essentially take over a bundle” of policies from the state and then “those people would essentially get a letter saying, ‘Hey, you are now part of [the new] insurance company’?”

Yes, Lucas said. And then the former corporate attorney laid out how this system has enabled him to become one of the most successful and influential insurance executives in Florida.

“You get to cherry-pick the policies,” Lucas said, describing how he has been able to select hundreds of thousands of favorable policies — and the revenue that comes with them — from Florida’s state-run Citizens Property Insurance Corp. “You are underwriting and cherry-picking the best policies,” he added, “leaving kind of the worst ones there.”

Leave a Comment

Skip to content