In the fast-paced world of startups, it's rare to find a founder who jumps into entrepreneurship the same week their first child is born. But that's exactly what Ralph Betesh did when he launched Coverdash, a game-changing digital insurance brokerage for small businesses and startups.
Coverdash isn't just another insurance company. It's a digital bridge between small businesses and the complex realm of insurance. "We're the most digital insurance brokerage," Ralph explains. "Our goal is to get you, as the customer, the best insurance at the best price."
Ralph and his team set out to create what he describes as "the best business and startup solution that the market had ever seen." They partnered with 30 of the largest insurance companies across the United States to build what Ralph likens to "Expedia, but for business insurance on the price comparison side."
But Coverdash didn't stop there. Instead of working to get small business owners and startup founders coming to Coverdash, they’re going to the customer. "We spent about seven months building the insurance industry's most advanced embedded tech," Ralph proudly states.
This technology allows Coverdash to integrate its insurance experience into partner platforms with just a single line of code, making business insurance accessible where smaller businesses and startups already operate—like the Lenovo Pro Community.
Let’s see how Coverdash is leveraging Lenovo technology to disrupt the insurance industry and empower small businesses across America.
Meet Ralph
"I was doing investment banking in financial services for about six or seven years before I started this venture," Ralph shares. With a deep focus on insurance within financial services, Ralph had been covering insurance companies, brokers, and tech.
The genesis of Coverdash came from Ralph's observations during his time in investment banking. He noticed a significant gap in how large insurance companies catered to small businesses and startups. "It kind of lacked in a lot of ways, whether that was just a lack of accessibility, understanding, and transaction ability for those communities," Ralph notes.
Coverdash runs on Lenovo.
At the heart of Coverdash's operations lies a robust technological infrastructure powered entirely by Lenovo products. "We are a fully Lenovo-driven company," Ralph proudly shares.
From the development team building their cutting-edge software to the sales and enablement teams interfacing with clients, every aspect of Coverdash's business relies on Lenovo hardware. "Our entire dev team drives the software build through Lenovo products," Ralph explains. "Our sales and enablement team uses Lenovo products, whether that's their laptop, webcams, keyboards, mouse – literally every piece of hardware comes from Lenovo, which is great. Lenovo is a no-brainer, one-stop shop!"
5 practical Lessons from a Startup Founder
My conversation with Ralph was full of little gems that any startup founder might want to hear. So here are the most practical tips he shared for new businesses.
1. Focus on stability and reliability
You might be small now, but – depending on your goals and trajectory – it probably won’t be that way forever. If you want to scale as a business, you’re going to need to create a strong base to build off of. "You need to think about stability and reliability as you build the foundations for something to grow and not cutting corners on the real foundational pieces that are building blocks to building a massive enterprise that can scale."
2. Think long-term
Ralph pointed out that it’s important to keep in mind the big picture and long-term effects of every decision you make. This is part of what leads to that stability and growth we mentioned earlier. "When you're at the forefront of scale, it's essential to make some decisions around the core parts of your business with the idea of where you will be 24 months from now or 12 months from now. And ask how this will affect the stability of that future that you’re trying to envision."
3. Learn from mistakes
All of this advice comes from first-hand experience. Ralph knows, "I’m the type of person who tries not to make a mistake twice. So, I've made some of those mistakes and really learned from them." Find some way to learn from your mistakes the first time so you don’t pay the cost twice.Â
4. Choose the right partners and tools
As Coverdash has scaled, they've turned to Lenovo's enterprise services to make scaling effortless. "We're growing so quickly; we need someone to help us. Lenovo’s enterprise team fixed three of our problems in the span of two hours, and we're like, okay, now this makes it really easy to grow."
This personalized support from a dedicated Lenovo representative has been crucial in maintaining Coverdash's momentum. "As we scale now and need more and more products, we have a rep who is really reliable," Ralph adds. "Whether it’s the right vendors, the right partners, or the right hardware, those are things that you don't want to mess up when you're putting the building blocks together.”
5. Be cautious of shortcuts
"There are opportunities to expedite, catalyze, shortcut, and they'll present themselves all the time. And that's your job as a business owner to make those types of decisions," Ralph cautions.
When you’re seeking fast-paced growth as a startup or small business, the temptation to take shortcuts can be so tempting. Overnight success is a myth, but we all wish it were real sometimes.Â
Shortcuts might promise quick wins, faster growth, or immediate cost savings. But not all shortcuts are created equal.
As a business owner, you'll frequently encounter opportunities that offer a faster path to your goals. Ralph mentioned these tempting shortcuts:
â—ŹÂ Â Â Â Opting for cheaper, less reliable technology to save money
â—ŹÂ Â Â Â Skipping thorough market research to launch a product faster
â—ŹÂ Â Â Â Cutting corners on legal or regulatory compliance
â—ŹÂ Â Â Â Rushing partnerships without proper due diligence
â—ŹÂ Â Â Â Underinvesting in critical areas like cybersecurity or insurance
Some shortcuts might be valuable catalysts for your business – allowing you to move quickly and gain a competitive edge. Others could compromise your long-term stability and growth.
Ralph emphasizes that it's the business owner's responsibility to discern between beneficial shortcuts and risky ones.
What to know about small business insurance
Now that you’ve got Ralph’s best advice for small businesses and startups, let’s get into what he really came here for: Insurance. Business insurance is often brought in as an afterthought; it is just a requirement we have to fulfill. But it’s actually pretty important for most businesses. Here are the top three things you need to know about business insurance.
Business insurance needs to be a priority.
"Say you start a business… the next two things you're doing is opening a bank account and securing insurance for your business. Those are the steps I recommend starting with." There are checklists for what you need to start your business, and getting business insurance to protect your business should be at the top of the list.
Protect your business.
As Ralph emphasizes, "Insurance is there to safeguard your business. It's to help protect the thing you spend all your time building." But what exactly does business insurance cover? You can find insurance coverage for everything from loss to lawsuits, accidents to business interruptions. Check out your options right here.
Upgrade your insurance as you grow.
One size does not fit all with business. So, as you grow, you’ll need to change your insurance plan to match that new scale. "As you go through the life cycle of your business, different lines of insurance, different products of insurance become relevant for your business once you reach certain milestones." Not sure what’s best for you? Head to Coverdash to see what you might need.
Get covered.
Building a successful business requires more than just a great idea. It’s about making thoughtful decisions, especially when it comes to foundational aspects like technology infrastructure and business insurance. And the right technology can empower startups and small business to go even further.
Lenovo Pro community members can now access Coverdash's game-changing insurance platform at your fingertips. As a Lenovo Pro member, you can save up to 30% on your business insurance costs through Coverdash. That's not just a good deal – it's an investment in your business's future.
Here's how you can save on business insurance:
Check out Coverdash for Lenovo Pro. It's designed to make finding the right insurance for your business as easy as booking a flight online.
Share your experience! We'd love to hear how Coverdash is helping safeguard your business.
Rachel is a freelance writer for EdTech companies. She studied Education and Achievement Motivation at Wheelock College. She made it through college on a trusty Lenovo Yoga. When she’s not writing, she spends her time adventuring in the outdoors, doing arts and crafts, and snuggling with her cat, Bonnie.
Find her on LinkedIn and her website.