Nationwide partners start-up Sure to sell insurance to tenants
Nationwide has joined up with insurance start-up Sure to offer millennial tenants insurance premiums via its mobile app, initially in California and Washington state. Sure, founded in 2014 and based in New York, uses Robo-Broker technology that combines data, analytics and artificial intelligence to find insurance based on a buyer's information. Nationwide's recent survey found that more than half of the 1,000 millennials it polled did not have renters insurance, more than two-thirds had more than $5,000 worth of belongings at risk and 75% did not know the relatively low cost of such insurance.
On-demand insurance agency Sure has signed Nationwide as a partner in offering renters insurance via its real time mobile app.

Using the Sure app (for iPhone and Android), consumers can now obtain a renters insurance quote, purchase a policy, and pay their Nationwide renters insurance premiums via a mobile app.

Nationwide said it will initially roll out the mobile app for renters in the states of California and Washington.

“As consumers value more options to purchase our insurance products, we continue to explore new ways to meet their emerging needs,” said Mark Pizzi, president and chief operating officer for Nationwide’s direct and member solutions business. “Partnering with Sure provides a choice for obtaining renters insurance as a key component to the apartment shopping and living experience.”

Nationwide said that a recent survey it conducted of more than 1,000 millennials indicated that more than half of them did not have renters insurance. However, more than two-thirds indicated they stood to lose more than $5,000 worth of belongings should an unfortunate event occur, while three-fourths did not know the relatively low cost of renters insurance.

“We are confident in our new ways to appeal to millennials and serve to educate them about the importance and accessibility of renters insurance,” Pizzi said.

“The new offering on Sure’s platform is designed to enable renters with insurance options through a fast, automated and secure mobile experience,” said Wayne Slavin, CEO of Sure.

Founded in late 2014 and headquartered in New York, Sure has raised $2.6m from investors including: ff Venture Capital, Montage Ventures, and Fosun Kinzon Capital (Fosun Group).

Its tagline is: “Instant, hassle-free insurance.”

Sure also offers insurance for pets, smartphones, weddings, travel and baggage.

Sure employs what it calls Robo-Broker technology, which uses data, analytics and artificial intelligence to find insurance using information on the buyer including location and preferences.

Sure’s other insurance partners include Chubb, Marsh and Guy Carpenter.

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Topics InsurTech