Housing.com, India-based full stack PropTech platform, has partnered with InsurTech platform Riskcovry to offer embedded insurance to its partners.
Housing.com has positioned itself as the go-to platform for homebuyers, homeowners, renters, landlords, developers, brokers and allied service providers such as movers & packers and property managers for offerings that cover the entire home buying/renting journey.
Riskcovry enables insurance anywhere by providing a powerful unified API that enables organisations to distribute insurance over multiple channels, quickly and effectively.
The partnership sees Housing.com enter into the insurance distribution business by offering a first of its kind service, ‘Rent Protect Cover’.
Housing.com said the cover will provide a host of insurance benefits to its buyers.
With the launch of this unique offering, ‘Rent Protect Cover’, which the company said is a first-of-its-kind offering in Indian PropTech space, Housing.com customers can avail of insurance with a click of a button at the time of completing online rental payments.
The insurance will cover 15 critical illnesses, a personal accident plan, and medical expenses in case of accidental hospitalisation.
The tenure of the insurance policy will be annual, though the premium can be paid monthly. The benefit claim amount can be used by customers to make good on due rental payments, which otherwise would have been at a risk of default due to the above mentioned instances.
Suvendu Prusty, co-founder and director, Riskcovry, said, “This partnership symbolises a 360-degree view of the role embedded finance can play and how insurance can be the differentiating experience for a company and its customers. Combined use-cases of payments + credit + insurance are converging to where we see FinTech + InsurTech as complementary spaces converging faster than ever before.”
Australian PropTech platform PropHero recently closed its oversubscribed seed round on AUD 8m ($5m) to help its clients build property wealth over time.
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