Life InsurTech Afficiency and Cincinnati-based insurance conglomerate Western & Southern Financial Group have teamed up with InsurTech Bubble to bring income protection to California mortgage borrowers.
Afficiency is an InsurTech looking to transform the end-to-end life insurance buying process and accelerate the time it takes to get applicants approved and covered.
Bubble is on a mission to help homeowners protect their homes, loved ones and everything under their roof with the right insurance coverages.
By embedding online insurance into the path of a home or mortgage purchase, and within homeownership journeys, Bubble’s AI algorithms combine data from the real estate transaction with its own extensive library to streamline the process of buying insurance.
The collaboration will allow 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.
IncomeSense is designed to be affordable and offered 100% digitally on Bubble’s online platform, with policy decisions provided in minutes, without any medical tests.
The product is 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.
Avi Gupta, founder & CEO of Bubble Insurance, said, “This partnership further reinforces our mission to help homeowners protect everything and everyone under their roof,” said. “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.”
Blink by Chubb recently launched Blink Paycheck, an income protection insurance product to help keep customers’ lives on track when they are unable to work.
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