Olympus Insurance

Rebecca Like, CPCU, CIC, AINS, API: Regional Sales Manager

The Florida property insurance market has made national headlines from its share of national carrier exits and start-up failures over the past several years. But having operated as a successful Florida-domiciled carrier since 2007, Olympus has literally withstood the storm and has emerged as the premier choice for people with high expectations seeking more from their insurance provider.

Defining Success in a High-Risk Market

Success can be defined by what an organization is not as much as what it is. Olympus is not a publicly traded company. Olympus does not have to sacrifice innovative ideas, nor does Olympus look to outside resources to manage its operations. Instead, Olympus operates as a debt-free, privately held company. A glimpse inside its operations and you will see team members at all levels encouraged to share and execute ideas. There is continual collaboration between all departments since Olympus operates as a ‘fully present’ organization and team members report to the office. While this goes against the grain of most business’ operations these days, this collaborative environment fosters a strong sense of purpose and ownership that cannot be sustained when employees are isolated. It is this whole team approach that fortifies the company and enables Olympus to continually evolve with the market.

Delivering More in a Shrinking Industry

Determining a focus is critical to long-term success. For Olympus, the goal is to be the premier carrier for insureds with “high expectations”. The ideal policyholder for Olympus is fiscally responsible and embodies a sense of pride in home ownership. This customer appreciates the importance of having peace of mind. To cater to this demographic, the key differentiator lies in delivering more, not less in terms of coverage.

In the state of Florida, many carriers are limiting water coverage, requiring roof schedules, and stripping coverage for items like screen enclosures, Olympus has taken another path. An Olympus homeowners’ policy includes:
•Full Water Coverage: Even for older dwellings, Olympus provides comprehensive water coverage, addressing a common limitation in the industry.
•Full Replacement Cost on Roofs: Unlike other policies that may depreciate roof coverage, Olympus ensures full replacement cost, protecting homeowners from unwelcome surprises.
•Screen Enclosures and Pool Cages: Coverage extends from the dwelling portion of the policy and provides full replacement cost.
•Wind-Driven Rain Coverage: Perils such as wind-driven rain are not excluded, providing robust protection against common weather-related damages during storms.
•Spartan Enhanced Coverage Package: this option further enhances the base policy. Among a lengthy list of additions, it includes broadened contents coverage, increased internal limits on items such as jewelry and other collectibles, identity theft coverage and equipment breakdown.

Additionally, Olympus offers coverage options for rental properties, including short-term rentals, coastal and oceanfront properties, condominiums and dwellings under construction.

Exceptional Service

Olympus's commitment to delivering exceptional claims service is embodied in its signature Elite Repair Program (ERP). This program comprises a network of carefully selected contractors known as Certified Elite Members (CEMs), who have provided outstanding claim experiences to thousands of policyholders. When a claim is reported, a CEM is dispatched to the property to assess the damages. These members are meticulously vetted and required to undergo regular “white glove” training sessions at Olympus's headquarters to ensure they maintain a high level of professionalism and deliver quality work.

One of the standout features of the ERP is its 10-year warranty on workmanship for all roof replacements. This promise is virtually unheard of in both the insurance and contracting industries. The ERP program not only enhances the quality of the claims experience but also significantly reduces the lifespan of a claim. By eliminating the need for a third-party field adjusters, the process is streamlined, allowing for quicker resolutions. Additionally, any supplemental payments are managed directly by Olympus, ensuring that policyholders do not have to pay out of pocket for work to continue.

Olympus: 2025 and Beyond

Olympus Insurance is set to embark on an exciting journey by partnering with parallel organizations that will enhance their product offerings. These partnerships are designed to provide policyholders with a range of options that extend beyond the traditional scope of a homeowners policy. This strategic move aims to deliver more comprehensive and personalized coverage options for those seeking more from their insurance carrier. Olympus is also focusing on improving the digital experience for their agency partners and policyholders. A brand-new quoting platform will be released which will streamline the quoting process, enabling agents to provide faster and more accurate quotes to their clients. Olympus plans to keep on doing what they do best- provide broad coverages while delivering white-glove service to insureds and agency partners alike.

About Olympus Insurance:

Olympus Insurance Company specializes in property insurance. Insuring residential and investment properties including homes, condos, rental properties, and personal property. The Olympus mission is to deliver an insurance experience that people deserve by offering customer focused, comprehensive, and reliable property insurance to Floridians. For more information, please visit the Olympus Insurance website olympusinsurance.com.