Branch Adds Term Life Insurance

Life insurance gives Branch another line to offer alongside home, auto, renters and umbrella insurance

COLUMBUS, Ohio, Oct. 26, 2022 /PRNewswire/ -- Branch^®, a full-stack insurance company that uses data, technology, and automation to make home and auto insurance completely frictionless, announced today the launch of a Term Life Insurance product, underwritten by Assurity. This initial segue into Term Life Insurance will enhance Branch's product offering from coast-to-coast and comes on the heels of a $147 million Series C investment, which launched Branch into unicorn status.

Term Life insurance represents another exciting way in which Branch is making it easier for consumers to seamlessly bundle all of their insurance needs, maximizing savings and improving the customer experience. Branch pioneered the first-ever instant bundle, eliminating the long and cumbersome process of buying home and auto insurance the traditional route. Building on the proven success of bundling with just a consumers' name and address, Branch is looking to remove the time-intensive and overly intrusive purchasing process that is commonplace across the life insurance market.

"Branch allows our members to manage more of their insurance plans in a single place to receive the benefit of a bundle," said Brian Brizard, Chief Business Officer at Branch. "As a result of our members asking for a way to purchase Life Insurance along with our home and auto products, we worked with Assurity to give them a way to add Life, making it easier for them to get more great coverage."

Since launching in 2019, Branch has been on a mission to make insurance less expensive so more people can be covered. With home and auto insurance now available across 33 states and counting, Branch believes that offering instant decision Life insurance will make it even easier to move a consumer's entire insurance account over to Branch. By partnering with Assurity Life Insurance Company, which focuses on offering protection that is easy to understand and buy, Branch can now offer new and existing members Term Life Insurance with ease.

"Like Assurity, Branch's goal is to provide frictionless insurance to enable greater adoption and increase coverage for more people" said Zachary Kane, Head of Assurity Ventures, Inc at Assurity Life Insurance. "We are excited to help Branch provide Term Life Insurance to current customers who are bundling their home and auto insurance, while continuing to remove the hassle that is commonplace across traditional insurance companies."

To learn more about how members can get a quote for Term Life Insurance by answering a few simple questions before completing their application and receiving an instant decision entirely online visit life.branch.com.

Branch is home and auto insurance that's simple to buy and built for savings. Through its revolutionary instant-bind capability, Branch removes all of the friction associated with getting covered, helping consumers bundle their home and auto with ease. Branch is a Public Benefits Corporation and manages a reciprocal exchange, an organization in which the policyholders are the actual owners of the policy premiums. The structure is built to align incentives and provide members with as much savings as possible. Branch further provides its members with access to a number of community-based products – which help members save even more by leveraging the power of their networks.

Branch was launched in 2019 by insurance veteran Steve Lekas and tech entrepreneur Joe Emison, and is headquartered in Columbus, Ohio. Branch is underwritten by the Branch Insurance Exchange, Everspan Insurance Company, and General Security National Insurance Company (GSNIC) and backed by SCOR. To learn more, visit Branch.com.

As a mutual organization, Assurity was founded on the simple concept of people coming together to support each other in moments of need. We continue our mission of helping people through difficult times by providing affordable insurance protection that is easy to understand and buy. Our financial stability has stood the test of time. It shows our commitment to be there when our customers need us. Owned by our customers, we conduct our business to serve only their best interests. Whether paying benefits, offering service with a human touch, giving back to our community, or practicing sustainable habits that provide for our planet, we embrace our capacity to improve lives. As a Certified B Corporation, we know we all share in the future we create, and Assurity believes in using our business as a force for good. To Learn more, visit Assurity.com.

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SOURCE Branch Insurance