Branch, which helps consumers to find the best home and auto insurance, has launched its My Community Discount service in Missouri.
In addition to this, the company has lowered auto rates state-wide by around 30%.
The My Community Discount programme enables clients to save money on their insurance premiums by inviting friends and family to quote with and join the Branch community.
Consumers can invite friends to quote with Branch via a personalised link. If the friend gets the quote, both clients and friends receive Amazon gift cards and when the friend joins the community they both receive premium discounts up to 50% off their insurance.
Founded in 2018, Branch offers customisable insurance policies for the auto and home markets. Consumers can add extra coverages they will need, such as valuables, ride sharing and home sharing.
To give accurate quotes, the company asks for information and will also gather data around claims, driving and credit information, including credit report.
The InsurTech platform is currently available in five US states: Arizona, Illinois, Missouri, Ohio and Texas.
Branch co-founder and CEO Steve Lekas said, “Branch is built on the idea that insurance should be less expensive and the innovative My Community Discount allows Branch’s clients – its Community – to hang onto their hard earned dollars rather than spend it on premiums that support insurance company advertising.
“It’s another way Branch uses technology and community to help our clients save.”
Earlier in the year, fellow US InsurTech platform launched its services into Louisiana, marking its sixth state.
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