Ep 29 - How to Protect Your Property and Your Revenue with Safely Founder Andrew Bate

GUESTS BIO Andrew Bate - is the Co-Founder & CEO of Safely.com – the tech-enabled data, and insurance company that has protected over $40 billion of homeowner liability during their short-term rentals. Before founding Safely, Andrew was a senior researcher at both Emory University’s Goizueta Business School and The Wharton School. His team’s work was published in the Harvard Business Review, Neuropsychologia, NeuroLeadership, and the Handbook of NeuroLeadership. Prior to that, he was an analyst at McKinsey & Co., specializing in revenue management, distribution, and loyalty programs for the Firm’s Travel Practice. Andrew earned his BBA from Emory University and an MBA from the London School of Business where he attended the Chinese University of Hong Kong on exchange. HIGHLIGHTS OF THE EPISODE 04:22  Andrew’s biography 05:53  What got Andrew into the short-term rental industry and what gave him the idea for Safely. 08:01  The amount of money that people with secondary home is not utilizing. 10:44  Taking homeowners’ concerns seriously to help grow your co-hosting business. 14:23  Andrew’s process/journey on founding his company Safely.com 18:42  How the offering works behind Safely. 20:46  Safely’s 3-day turnaround claim. 22:57  Running a background check on guests. 24:34  3 types of insurance claims on vacation rentals. 28:01  Taking regular inventory of what’s in your house. 29:31  Why Safely is unique. 32:01  Bad things happen. Don’t be afraid to use your insurance policy. 34:06  Plans on running cancelation insurance for guests and hosts. 37:23  Trip Cancelation insurance is not a new concept in other industries. 39:49  Andrew’s number 1 secret to success in short-term rentals. 41:38  Where can people find out more about Andrew and Safely. NOTABLE QUOTES (KEY LESSONS): "The first need that a homeowner has before they're gonna monetize that house is, they need to feel comfortable with who's staying in their house and they know that they'll be taken care of if something goes wrong." - Andrew Bate "If you're doing your job well you'll have 80% occupancy." - Andrew Bate "The secret is once you're running your business it's to look at the best practices from the established travel industry." - Andrew Bate CONNECTING WITH THE GUESTS Website: safely.com Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices