Starling partners with InsurTech So-sure
Written by Hannah McGrath
Starling is partnering with InsurTech startup So-sure to offer customers mobile insurance directly from their phones.
In the latest third party-partnership to feature on its app-based marketplace, the digital challenger bank will enable customers to apply for an insurance policy in minutes.
So-sure says it is aiming to disrupt the insurance market with a platform that rewards policyholders who sign up their friends, and offers up to 80 per cent of the value of their premium back each year if nobody claims.
The startup stated it declines less than four per cent of claims - lower than the traditional industry average - and makes use of artificial intelligence (AI) technology to detect and cut down on fraud.
Starling’s in app marketplace, which launched in February this year, has already rolled out partnerships with pension provider PensionBee, investing services Wealthify and Wealthsimple, and online mortgage broker Habito, among others. They are targeting 25 marketplace partners by the end of the year.
Megan Caywood, chief platform officer at Starling, said the bank wants its marketplace to enable customers to manage their whole financial life in one place and said the partnership with so-sure was a natural fit.
“So-sure share our ethos of putting the customer first and are another example of our commitment to partnering with disruptors that are working to improve customers lives through intuitive products and fair and transparent pricing,” she added.