• Better.com launched a new insurance shopping marketplace, Better Insurance.
  • The new shopping tool is available through Better’s insurance arm, Better Cover, which was launched in 2019.
  • Better is collaborating with insurance technology company Sure and Farmers Insurance-owned Toggle for the launch.

Homeownership platform Better.com unveiled a new insurance shopping marketplace. The new tool, Better Insurance, allows customers to purchase homeowners insurance completely online, with no brokers or in-person meetings.

Better Insurance is available through Better.com’s insurance arm, Better Cover, which the company launched in 2019 to offer a transparent insurance shopping experience.

“Insurance is a key component of the homebuying process that comes with its own unique set of risks and challenges. At Better, we are focused on leveraging technology to make products available that can reduce pain points across all facets of the homebuying experience, and insurance is no exception,” said Better CEO and Founder Vishal Garg. “As a public company, we are more motivated than ever to continue addressing timely issues for homeowners through our robust product offerings, and the Better Cover team is leading the charge with the launch of a more seamless, consumer-first insurance product.”

Better is leveraging two partnerships for the launch of Better Insurance. The New York-based company has white-labeled the tool in collaboration with insurance technology company Sure and Farmers Insurance-owned Toggle. Better is using Sure’s APIs to integrate embedded insurance infrastructure into Better Insurance, and has tapped Toggle for underwriting and help with designing and building the product.

At launch Better Insurance is available in three U.S. states: Arizona, Oregon, and Illinois. The company plans to roll out to more regions within the U.S. “in the coming months.”

Better.com was founded in 2016 to create a fully digital way for borrowers to shop for, apply for, and ultimately obtain a mortgage. Earlier this year, Better.com launched the One Day Mortgage, allowing borrowers to apply for and obtain a mortgage within 24-hours.

Photo by Klaus Nielsen

Source: https://finovate.com/better-com-helps-homeowners-shop-for-insurance-with-the-launch-of-better-insurance/