The startup offers a neo-insurance platform that leverages machine learning and behavioral economics to provide borrower and digital mortgage insurance products. This approach simplifies the insured-insurer relationship, delivering transparent and competitively priced insurance options to clients.
Funding
$7.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Securing loan insurance, whether for a mortgage or student loan, often involves complex processes and a lack of transparency, leading to potentially unfavorable terms for borrowers. Traditional insurance options may not be tailored to individual needs, resulting in unnecessary costs and inadequate coverage.
Solution
Assurly provides a fully digital neo-insurance platform that simplifies and streamlines the process of obtaining borrower insurance for both mortgage and student loans. By leveraging machine learning and behavioral economics, Assurly offers transparent, competitively priced, and personalized insurance solutions. The platform allows users to quickly obtain quotes, compare coverage options, and manage their policies entirely online, eliminating paperwork and lengthy administrative processes. Assurly also handles the administrative tasks of switching insurance providers, making it easier for borrowers to secure better rates and more suitable coverage.
Target Audience
Assurly targets individuals seeking borrower insurance for mortgage or student loans, particularly those who prefer a digital-first experience and desire transparent, competitive pricing.
Features
- 100% online platform for obtaining and managing borrower insurance
- Personalized insurance plans using machine learning algorithms
- Real-time quote generation and comparison tools
- Comprehensive coverage options for both mortgage and student loans, including all legally required guarantees
- Digital signature and document management
- Automated administrative processes for switching insurance providers
- Customer support via chat, email, and phone
- Mobile application for convenient access and management