Pioneering start-up mobile insurance company so-sure is joining the likes of PensionBee, Kasko, and Anorak on Starling Bank’s app.
The digital challenger bank has partnered with so-sure to allow its users to apply for mobile phone insurance directly from the Starling Marketplace. The policy provides cover against risks such as loss, theft, accidental damage, and out-of-warranty breakdown.
Starling Bank, which aims to have 25 marketplace partners by the end of 2018, currently features financial services like pension, mortgage, and investing, as well as insurance products like travel and life.
“Through our Marketplace, we want to enable our customers to manage their whole financial life in one place,” noted Starling Bank chief platform officer Megan Caywood. “As a mobile-only bank, we understand the need for affordable mobile phone insurance, so partnering with so-sure was a natural fit.
“so-sure shares our ethos of putting the customer first and is another example of our commitment to partnering with disruptors that are working to improve customers’ lives through intuitive products and fair and transparent pricing.”
The newest partner, which declines less than 4% of claims, also has what it calls ‘social insurance’ wherein customers can connect their policy with friends and family members who are also so-sure policyholders. A customer whose connections don’t make a claim will get as much as 80% of their premium back at the end of the policy year.
“We wanted to create an insurance policy that provides an amazing claims experience if something happens to your phone,” said so-sure chief executive Dylan Bourguignon. “And, have fantastic rewards if you and your friends/family don’t claim.”
