Global InsurTech Sure has partnered with PorchPals to offer customers a digital embedded insurance product for packages delivered to their door.
Founded in 2015, Sure is an insurance technology company that aims to unlock the potential of insurance on the internet.
Global brands and world-renowned carriers build sophisticated embedded insurance products on the company’s SaaS infrastructure to distribute, service, and scale digital insurance.
According to Sure, its platform enables accelerated market growth and increased revenue streams while delivering “unparalleled customer experiences”.
PorchPals has recently launched. The company offer affordable porch piracy package insurance for deliveries to consumers’ doors.
The copmany’s new subscription package theft insurance, which built on Sure’s embedded insurance infrastructure, has made its debut in California with plans for PorchPals and Sure to launch PorchCare nationally in 2023.
According to PorchPals, with ecommerce expanded and a rapid rate, with over 65 billion packages delivered each year in the US, it is solving an important need in the market.
The company stressed the need to protect online purchases from theft at the front door. In the last year alone, approximately 210 million packages totalling $5.4bn in value were stolen from porches in the US.
Wayne Slavin, co-founder and CEO of Sure, said, “Sure is proud to have partnered with PorchPals to build PorchCare as a fully embedded insurance product. We are providing PorchPals members the type of digital experience they expect this day in age, but don’t normally receive when purchasing insurance.
“PorchCare serves as the latest example of Sure combining its unmatched insurance expertise with its world-class technology capabilities to build and launch digital insurance products from scratch. We’re excited to partner with PorchPals to bring this product to market in California with more states on the horizon.”
Earlier this month, InsureComFree, a Malaysia-based InsurTech firm, secured an investment from KT Cap Consulting or KTCC, a Singapore-based management consultancy firm.
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