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Afficiency, a New York-based InsurTech that provides life insurance products via API to digital distributors, and Cincinnati-based insurance conglomerate Western & Southern Financial Group have announced a new product integration with Bubble (Cupertino, Calif.), an InsurTech that connects homebuyers and homeowners with personalized insurance coverage for home, auto and life. The collaboration allows Bubble to embed IncomeSense, an income protection life insurance product developed by Afficiency and Western & Southern, alongside or after the home and mortgage purchase process. IncomeSense on Bubble is available to California borrowers with plans to expand to additional states in the near future.
By embedding IncomeSense into its native environment via Afficiency’s proprietary API, Bubble takes the friction out of applying for and purchasing income protection, enabling borrowers to easily protect their family, according to a joint statement from the companies. IncomeSense is designed to be affordable and offered 100 percent digitally on Bubble’s online platform, www.getmybubble.com, with policy decisions provided in minutes, without any medical tests, the statement says.
“This partnership further reinforces our mission to help homeowners protect everything and everyone under their roof,” comments Avi Gupta, founder & CEO, Bubble Insurance. “Our goal is to catalyze access to insurance products that fit the homebuyer profile, are easy to understand, and even easier to purchase. IncomeSense fits all these criteria and is integral to our mission to help homeowners get total peace of mind.”
The joint statement describes IncomeSense as a declining term life insurance solution that can provide monthly income payouts to life insurance beneficiaries to cover monthly mortgage payments or replace a wage earner’s income. The statement adds that the product is a simple, digital insurance solution that can help ensure the standard of living that a family enjoys will remain in reach, even if the unthinkable happens. For homeowners with a mortgage, it can help cover mortgage payments to ensure the family always has a home, the statement says.
“We are thrilled to integrate IncomeSense with Bubble,” says Mark Scafaro, co-founder and CEO of Afficiency. “Bubble shares our mission to eliminate friction in the insurance buying process, expedite access to coverage when it’s most relevant, and get people back to the meaning of it all: maximizing life.”
“Western & Southern Financial Group is focused on offering innovative and tailored products that people need most as they navigate different phases in their lives,” comments Ben Fotsch, VP, Digital Customer Acquisition, Western & Southern Financial Group. “At a time when homebuyers are making a huge life decision, IncomeSense stands out as an easy choice for life insurance.”