Better Home & Finance Holding Company (NASDAQ:BETR), the digital homeownership company and the first fintech lender to achieve $100B in funded loans, announced the launch of Better Insurance, the white labeled solution that allows customers to purchase homeowners insurance through “a fully online experience.”
Better Insurance is the latest innovation “available through the company’s insurance arm, Better Cover, a full service digital insurance agency dedicated to providing a seamless and transparent insurance shopping experience across a wide range of offerings.”
Vishal Garg, CEO & Founder of Better, said:
“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. 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.”
With homeowners insurance options dwindling due to premium increases and limited availability, Better Insurance is pleased “to introduce a fully customizable digital experience that allows customers to build a policy that fits their unique needs and situation.”
Better Insurance was created in collaboration “with Sure, a global insurance technology leader that unlocks the potential of digital insurance, and Toggle, a member of the Farmers Insurance family, which provides digital home, renters, and auto insurance solutions designed for modern consumers. Sure managed the end-to-end configuration and APIs to enable Better to seamlessly integrate its cutting-edge embedded insurance infrastructure technology into Better Insurance, while Toggle provided the underwriting and insurance expertise to design and build the product.”
Wayne Slavin, CEO & Co-Founder of Sure, said:
“We’re excited to partner with Better to provide homebuyers with a frictionless, personalized insurance solution during this difficult time in the market. At Sure, our mission is to unlock the potential of digital insurance, and partnering with a leading digital homeownership company like Better is a natural fit to expand our reach and provide consumers with seamless access to insurance at a time when they need it most.”
Better Insurance is currently available “in Arizona, Oregon, and Illinois, with plans to expand to additional states in the coming months.”
The platform is the latest innovation “from Better Cover, the company’s full service digital insurance agency, which offers a full range of products from top carriers at the lowest prices across other areas including auto, life, and more.”