(Image source: Branch homepage.)
Branch Insurance (Columbus, Ohio), a startup, full-stack insurer offering instantly-bundled home and auto insurance has announced the launch of a Term Life Insurance product, underwritten by Assurity (Lincoln, Neb.). Branch says this initial segue into Term Life Insurance will enhance its product offering from coast-to-coast and comes on the heels of a $147 million Series C investment, which launched the company Branch into unicorn status.
Building on its success of bundling with just a consumers’ name and address, Branch says it is looking to remove the time-intensive and overly intrusive purchasing process that is commonplace across the life insurance market.
“Branch allows our members to manage more of their insurance plans in a single place to receive the benefit of a bundle,” comments Brian Brizard, Chief Business Officer, Branch. “As a result of our members asking for a way to purchase Life Insurance along with our home and auto products, we worked with Assurity to give them a way to add Life, making it easier for them to get more great coverage.”
Branch describes itself as having been on a mission to make insurance less expensive so more people can be covered, since its launch in 2019. With home and auto insurance now available across 33 states and counting, Branch believes that offering instant decision Life insurance will make it even easier to move a consumer’s entire insurance account over to Branch. By partnering with Assurity Life Insurance Company, which focuses on offering protection that is easy to understand and buy, Branch says it can now offer new and existing members Term Life Insurance with ease.
“Like Assurity, Branch’s goal is to provide frictionless insurance to enable greater adoption and increase coverage for more people” comments Zachary Kane, Head of Assurity Ventures, Inc within Assurity Life Insurance. “We are excited to help Branch provide Term Life Insurance to current customers who are bundling their home and auto insurance, while continuing to remove the hassle that is commonplace across traditional insurance companies.”