Contractors Nationwide Embracing Direct Model for Bid, Performance and Payment Bonds.
In just over 24 months of operations, underwriters at Direct Surety have spoken with more than 10,000 contractors nationwide seeking to go direct to the decision maker. “Contractors are demonstrating they want direct access to surety underwriters to obtain bid, performance and payment bonds,” said David Druml, current CEO and one of the principal founders.
Direct Surety is championing a whole new way of obtaining contract surety bonds by enabling contractors to go direct to an underwriter to satisfy their bonding needs, rather than through a broker or middleman. Because Direct Surety is the underwriter, contractors have a direct, one-on-one relationship with the decision maker to establish bonding limits and pricing.
“We are proud of the growth and the positive impact our team has had on the surety industry over the past two years,” said Mr. Druml. “This is a very exciting and fast-moving time for the Company. We set out to change the way contractors obtain bid, performance and payment bonds by connecting them with the decision maker and we’ve succeeded. It’s especially gratifying to see our clients gain control of their bonding program so they can bid and win more jobs. The time is right for a direct model as technology now seamlessly provides a direct connection between buyers and sellers.”
“By working directly with the decision maker, Integrity Tank has been able to increase our bonding capacity. Our underwriter at Direct Surety was exceptionally helpful providing us with insights, knowledge and advice that are certain to positively impact our business moving forward,” said Davis Sprague, Director of North American Sales at Integrity Tank Services, LLC. “We know with Direct Surety as our partner, Integrity Tank will continue to improve and grow. We pride ourselves on hard work and dedication, which makes Direct Surety the perfect company for our contract surety bond needs as they embody the same values.”
“We have really enjoyed developing our relationship with Direct Surety and getting our bonds directly from the source. The entire experience has been completely different than any surety representative that we have dealt with in the past,” said Gabriel Woodman, Chief Financial Officer at Woodco, Inc.
Direct Surety Guarantees Improvement
Direct Surety’s rapid growth among small- to medium-sized contractors is tied largely to its ability to educate contractors on state-of-the-art business practices. The Company’s proprietary Enterprise Risk Analysis System is available to all clients without charge to improve their operations. Contractors nationwide are beginning to understand the value of working directly with the decision maker. Direct Surety’s underwriters see an incredible number of contractors in all types of situations and have deep knowledge of all the risk factors that impact a contractor’s profitability. By virtue of the underwriter’s extensive knowledge of the construction industry, supported by advanced technology that provides contractors a roadmap to improve, Direct Surety is able to positively impact both prospects and clients alike.
“Direct Surety educates contractors on the factors that impact their ability to obtain bonds so they can improve and thereby increase bonding limits and lower pricing. Simply stated, we empower contractors to grow and prosper,” continued Mr. Druml. “With knowledge, they gain control of their bonding needs.”
The blend of a direct relationship and unique construction risk analysis technology have been key drivers for Direct Surety’s success, which is challenging the status quo.