Insurtech Category Leaders Expand SoFi Offering
In July 2018, we announced a partnership between Ladder and SoFi that made it easier to access life insurance. Today, SoFi announced it is broadening its insurance offering overall to include Lemonade for renter and homeowner insurance and Root for auto insurance. With the expansion of its insurance offerings, SoFi is offering its members a wider range of financial products to meet their needs as their lives evolve. Insurance is an important element of their customers’ financial health, and these leading players from the insurtech “new guard” are the best solution in their respective categories. Customers benefit when fintech innovators join forces to streamline and simplify the process of getting financial protection.
The ability to get life insurance in place quickly and easily is especially important to people’s financial well-being. SoFi also announced today that it will be adding a new incentive to its partnership with Ladder. For any eligible individuals who apply for life insurance through the SoFi and Ladder partnership, Sofi is offering $25 to invest in stocks, ETFs, or robo-advising through SoFi Invest. This offer underscores the importance of life insurance in any financial plan.
At Ladder, we recognize that partner-driven innovation is most powerful when like-minded companies work together to solve customer problems. This “new guard” of fintech represents a fresh approach that is the result of a consumer-first mindset and functionalities that simply weren’t possible before. This is exactly why we launched the Ladder API in January 2018: to further streamline the process of partnering with companies focused on delivering a delightful experience for their consumers. The Ladder API is a compelling example of the new ways consumers can access, gather information and engage with life insurance.
Ladder is relentlessly focused on building better life insurance for modern consumers — those who have come to expect digital, on-demand solutions in nearly every other area of their financial lives. We are eliminating barriers that currently prevent people from getting life insurance by identifying moments where life insurance makes sense for consumers, and streamlining the process. Today’s announcement from SoFi underscores how fintech companies can work together to make managing important financial decisions even easier — and make crucial tasks simple and delightful.
