When supporting client companies across many industries, we have the pleasure of collaborating with and discovering many influential and inspiring companies, concepts, and people. Outsourced accounting is a large part of a company’s framework for success. Still, it is not the only avenue that can be leveraged by a business seeking scalable services in line with growth.
Industry partners are a pivotal part of supporting businesses in all areas and we are here to highlight a few of the more inspiring and helpful ones. One of last (but definitely not the least in regards to importance) areas of business support many CPG founders discuss is insurance. What better team to ensure you have the correct, and proper amount of insurance support than that of experienced CPG founders? Let’s dive and learn more about SecureCPG from its CEO and Founder, Will Totten.
SecureCPG was formed by CPG founders and operators aligned with the backing of 150 years of insurance expertise. The goal is simple: to provide insurance to match the current needs of modern CPG brands. Will says,
“After years of starting CPG brands, we witnessed how insurance is incorrectly written for many brands leaving them at risk for the most common risks in the space,”
More run-of-the-mill options don’t typically address coverage for things like spoilage, contamination, and cargo, let alone common scenarios like using co-manufacturing versus self manufacturing, and/or storing Inventory at 3PL warehouses.
All of the nuances surrounding modern day brand operations did not align with the offerings of typical insurance companies. To solve the problem like only scrappy CPG founders know how to do, several industry veterans got together with a national independent brokerage firm to change how insurance for CPG is offered and written.
The team behind SecureCPG is unrivaled in its extensive industry knowledge and experience in both the CPG and insurance arenas. These are the main players bringing this special service to the CPG world:
Will left the insurance space after a decade of service to launch, and later exit, a small wellness brand based in Colorado. This valuable experience is what gave him the vision and knowledge to provide a better consumer experience spin to such an old-school service.
“After over a decade in the insurance space, I decided to leave a career I saw as antiquated for the consumer. During my time away from that space, I launched and exited a small wellness company based out of Colorado. During this time, I noticed an opportunity to improve the customer experience and better insure brands. I decided to launch a brand-first insurance platform. Why? To disrupt not only how brands procure coverage, but how policies are written around modern brands.”
Rodeo CPG is its own big name in the CPG world. It is a technology-driven sales management agency designed to help innovative brands grow sustainably in retail. Prior to Rodeo and SecureCPG, Zach served in a variety of leadership roles at I and Love and You and Little Ducks Organics, both of which were acquired. Zach saw the gaps in coverages for many of the brands he has worked with and saw a need to change this space for the better. He has personally suffered from inadequately written coverage for his brands and knows we can do better.
MDP was formed over 150 years ago because insurance doesn't have to be complicated to be right. With a national presence, MDP joined the Founders of Secure CPG with the offering to build their company together by providing best-in-class service along with policy market access and relationships in the insurance space that only the largest brokers can provide.
BFG brings over 40 years of experience in the natural products world. As both entrepreneurs and investors, BFG provides emerging brands the guidance most needed to make critical decisions and maximize opportunities. This advice spans operational strategy, tactical marketing, channel development, organizational design, and capital planning. Their portfolio includes brands you may know and love, like Birch Benders, Bear Naked, Quinn and Olipop–just to name a few.
Business insurance tailored to modern CPG brands.
SecureCPG is the first and only CPG specific platform.
SecureCPG helps brands drive their cost of insurance down while ensuring coverages are correctly written. It also boasts a deep and wide treasure trove of useful information and resources in its education center. Here you can find contract templates, forms and information surrounding important subject matter every CPG founder needs to know; from buyouts to covering autos and employees.
As a CPG and insurance industry professional, Will suggests that you consult a partner that is transparent and can lay out all of the options to make an informed decision–especially from the beginning.
“Even the largest brands have issues with their risk management. The best way to proceed is to know your options and partner with a specialist that presents all the options to you.”