Better Launches Better Insurance to Provide Online Insurance Experience for American Homeowners

By: Better Home & Finance Holding Company via Business Wire

November 02, 2023 at 09:00 AM EDT

Better Insurance allows customers to easily shop for homeowners insurance through a fully digital platform

Better Home & Finance Holding Company (NASDAQ:BETR, BETRW), the leading digital homeownership company and the first fintech lender to achieve $100B in funded loans, today announced the launch of Better Insurance, the first end-to-end, white labeled solution that allows customers to purchase homeowners insurance through a fully online experience. Better Insurance is the latest innovation available through the company’s insurance arm, Better Cover, a full service digital insurance agency dedicated to providing a seamless and transparent insurance shopping experience across a wide range of offerings.

“Insurance is a key component of the homebuying process that comes with its own unique set of risks and challenges. At Better, we are focused on leveraging technology to make products available that can reduce pain points across all facets of the homebuying experience, and insurance is no exception,” said Vishal Garg, CEO & Founder of Better. “As a public company, we are more motivated than ever to continue addressing timely issues for homeowners through our robust product offerings, and the Better Cover team is leading the charge with the launch of a more seamless, consumer-first insurance product.”

With homeowners insurance options dwindling due to premium increases and limited availability, Better Insurance is pleased to introduce a fully customizable digital experience that allows customers to build a policy that fits their unique needs and situation.

Better Insurance was created in collaboration with Sure, a global insurance technology leader that unlocks the potential of digital insurance, and Toggle^® , a member of the Farmers Insurance^®family, which provides digital home, renters, and auto insurance solutions designed for modern consumers. Sure managed the end-to-end configuration and APIs to enable Better to seamlessly integrate its cutting-edge embedded insurance infrastructure technology into Better Insurance, while Toggle provided the underwriting and insurance expertise to design and build the product.

“We’re excited to partner with Better to provide homebuyers with a frictionless, personalized insurance solution during this difficult time in the market,” said Wayne Slavin, CEO & Co-Founder of Sure. “At Sure, our mission is to unlock the potential of digital insurance, and partnering with a leading digital homeownership company like Better is a natural fit to expand our reach and provide consumers with seamless access to insurance at a time when they need it most.”

Better Insurance is currently available in Arizona, Oregon, and Illinois, with plans to expand to additional states in the coming months. The platform is the latest innovation from Better Cover, the company’s full service digital insurance agency, which offers a full range of products from top carriers at the lowest prices across other areas including auto, life, and more.

About Better Home & Finance Holding Company

Since 2017, Better Home & Finance Holding Company (NASDAQ: BETR) has leveraged its industry-leading technology platform, Tinman™, to fund more than $100 billion in mortgage volume. Tinman™ allows customers to see their rate options in seconds, get pre-approved in minutes, lock in rates and close their loan in as little as three weeks. Better’s mortgage offerings include GSE-conforming mortgage loans, FHA and VA loans, and jumbo mortgage loans. Better launched its “One-Day Mortgage” program in January 2023, which allows eligible customers to “go from click to Commitment Letter” all within 24 hours. From 2019-2022, Better completed approximately $98 billion in mortgage volume and $39 billion in coverage written through its insurance arm, Better Cover. Better was named Best Online Mortgage Lender by Forbes and Best Mortgage Lender for Affordability by WSJ in 2023, and ranked #1 on LinkedIn’s Top Startups List for 2021 and 2020, #1 on Fortune’s Best Small and Medium Workplaces in New York, #15 on CNBC’s Disruptor 50 2020 list, and was listed on Forbes FinTech 50 for 2020. Better serves customers in all 50 US states and the United Kingdom.

For more information, follow @betterdotcom.

About Sure

Sure is the global insurance technology leader that unlocks the potential of digital insurance. Global brands and market-leading insurance carriers from the Fortune 500 build and launch sophisticated embedded insurance products on Sure's SaaS infrastructure to distribute, service, and scale digital insurance. Sure's insurance expertise combined with its technology increases revenue streams and accelerates market growth while revolutionizing the customer experience. Visit sureapp.com and follow us on LinkedIn and Twitter.

About Toggle^®

Toggle is a new kind of insurance company backed by the stability of Farmers^®, with over 90 years of experience delivering best in class service and claims handling. Founded in 2018, Toggle is reimagining the insurance industry by creating unique products and embedded experiences for today's modern consumers and brands. Toggle Insurance Company offers fully digital insurance solutions and provides customers and brand partners simple, affordable, and highly customizable products to fit their needs. For more information, visit www.gettoggle.com.