Starting in April, Insurify’s white label insurance comparison product will roll out to Toyota customers nationwide through industry-first partnership
Insurify has announced a new partnership with Toyota Insurance Management Solutions (TIMS) to power its insurance platform providing Toyota customers with a seamless way to compare and buy car insurance policies online, helping drivers get the best policy for the best price using Insurify’s data-driven recommendations and personalized purchase experience. Insurify’s white label TIMS product marks its first step into embedded insurance, an area the fast-growing company plans to firmly establish itself in—bringing its exceptional understanding of customer shopping behavior and award-winning interface to even more customers.
According to J.D. Power’s 2020 U.S. Insurance Shopping Study, 90 percent of consumers are open to online auto insurance purchases, but the online purchase experience can still be time-consuming and clunky. Insurify’s insurance comparison product is closing this gap in the industry by integrating directly at the point of sale, removing the friction around auto insurance buying for the consumer while also creating additional customer touchpoints for auto manufacturers that extend well beyond the purchase of the vehicle.
“We’re very excited to be able to help Toyota Insurance Management Solutions provide their customers with a cutting-edge insurance shopping and buying experience,” said Snejina Zacharia, CEO and founder of Insurify. “As a full-service digital agent, Insurify is committed to helping people make the best decision about their insurance by providing them with the tools and information they need to feel empowered during the process. We’ve seen continued growth across auto, home, and life insurance verticals and are looking forward to working with additional partners as more people buy their insurance online.”
In addition to this partnership with TIMS, Insurify has also established itself within an array of diverse industries by partnering with digital banks, car dealerships, and insurance carriers alike to help partners provide a state-of-the-art insurance comparison product to their customers.
“TIMS is committed to enhancing the Toyota ownership experience by providing simple, convenient ways to shop for and purchase insurance for all Toyota models, new and old, as well as coverage for other vehicles,” said Will Nicklas, TIMS’ Chief Operating Officer. “Partnering with Insurify allows us to connect our customers to our panel of trusted carriers through a modern, user-friendly platform, adding real value to our customers’ lives while maintaining the quality and integrity they expect from Toyota.”
The TIMS partnership follows a rapid year of growth for Insurify, which has achieved consistent 2.5x year-over-year revenue growth since its launch in 2016. The company has facilitated the purchase of over $170 million in insurance premiums since launch and achieved a 3.5x increase in organic growth last year. Insurify has also doubled its repeat users in 2020 and is currently the highest-rated insurance comparison platform in the U.S., according to approximately 3,000 verified user reviews.
Toyota customers, select dealerships, and employees can access Insurify’s cutting-edge car insurance quotes comparison and purchase experience for new and used vehicles starting in March through toyotaims.com. The product will be available to users in Texas this week, followed by a national rollout.
More about Insurify
Based in Cambridge, MA, Insurify is a one-stop-shop comparison platform for car, home, and life insurance, helping consumers save time and money on their insurance coverage. With over $170M of insurance coverage purchased since 2017, Insurify has achieved 20x revenue growth since 2016 and won numerous industry awards, including: Forbes Fintech 50 2020, The Digital Insurer’s “North America InsurTech Startup of 2019,” and FinTech Global’s “2019’s Most Innovative InsurTech Companies,” ACORD’s 2018 “Top 10 Insurance Leaders and Insurance Disruptor Awards.”
About Toyota Insurance Management Solutions
Toyota Insurance Management Solutions (TIMS) is an independent insurance agency offering products providing personal and commercial coverages. TIMS specializes in property & casualty insurance offerings, partnering with top insurance companies to allow customers in all states and the District of Columbia to choose the best options for their lifestyle and budget. TIMS’ sister company, Connected Analytic Services (CAS) is a credit reporting agency specializing in vehicle telematics products. Together they are a joint venture between Aioi Nissay Dowa Insurance Services, USA, Toyota Financial Services International Corp., and Toyota Connected, USA