Vouch, a US-based insurance company, has announced what it claims to be its first embedded insurance API partnership, with StartupOS in an effort to bring insurance to early stage startups.
StartupOS serves as a platform that aids founders expand their startups with important tools, expert guidance, as well as a host of mentors, investors, and partners.
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Under this partnership, users of the StartupOS platform can now directly access quotes for general liability and business property insurance coverages through Vouch.
Furthermore, the StartupOS platform will offer free risk management training modules from Vouch exclusively designed for early-stage founders.
This partnership is claimed to emphasise the mutual commitment of the two companies to support early-stage founders and protect their companies during the initial stages.
Vouch Insurance co-founder and CRO Travis Hedge said: “Two-thirds of founders get business insurance at company formation, but zero percent of first-time founders do. When it comes to insurance, there’s both an awareness and a trust gap that leaves many early-stage startups under-covered and vulnerable.
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By GlobalData“With embedded insurance from Vouch, companies on the StartupOS platform can work directly within the platform they already use to get educated on the coverages that are essential to their business, get quotes, and work with Vouch to seamlessly complete the process of purchasing insurance.”
StartupOS can leverage Vouch’s API to utilise latter’s core underwriting functionality aspect via an integration, which is easy to implement and maintain.
The API facilitates partners to provide a materially original and better experience to users when buying insurance through their platform.
StartupOS chief platform officer Jeff Wagner said: “We’re thrilled to partner with Vouch to provide business insurance training and products directly through our platform. Through our collaboration and API integration, we are ensuring that our startups have access to the best insurance products tailored to their needs.
“This partnership is a significant step forward in our commitment to providing startup founders with the most innovative and comprehensive solutions to support their growth. We are excited about the value this will bring to our founders and look forward to a successful partnership with Vouch.”
Established in 2018, Vouch is a business insurance provider to thousands of companies.
It has raised $160m from several Silicon Valley institutions and investors, including Ribbit Capital, Redpoint Ventures, Y Combinator, and Index Ventures.
In January 2023, Vouch Insurance has purchased lending startup Level for an undisclosed amount.
