Mutual life insurance company MassMutual has announced a partnership with Insurify, enhancing its insurance product line with property and casualty insurance (P&C) options.
Financial professionals affiliated with MassMutual can now leverage Insurify’s virtual insurance platform to offer P&C insurance solutions to their clients.
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This collaboration integrates AI and dedicated specialist support to streamline insurance policy comparison, purchase and management.
Insurify, founded in 2013 and headquartered in Cambridge, Massachusetts, offers a digital platform where customers can compare quotes from an array of insurance providers.
The partnership allows financial professionals to present their clients with competitive quotes for both personal and commercial insurance lines, along with support from a team that assists with all administrative and operational aspects.
It also includes access to more than 100 reputable P&C insurers, consolidating a wide range of options in a single, online environment.
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By GlobalDataMassMutual head of wealth management Vaughn Bowman said: “Those that seek to build wealth must address the myriad risks that can sabotage value over a long period, and property and casualty insurance is an important piece of the backbone of wealth protection and financial security.
“With the addition of P&C insurance through Insurify to our robust mix of wealth management and protection solutions, we have yet another valuable option for financial professionals affiliated with MassMutual as they seek to offer the best possible advice and financial strategies to their clients.”
Insurify CEO and founder Snejina Zacharia said: “We created a customised platform and tools for MassMutual-affiliated financial professionals to compare quotes and buy money-saving auto, home and commercial insurance policies online or through our dedicated MassMutual agency.”
MassMutual Ventures (MMV), the venture capital arm of MassMutual, has been a long-term investor in Insurify.
Insurify’s $100m fundraise in a Series B round in September 2021 included contributions from Motive Partners, MMV and other investors.
MMV’s recent activities include a $75m investment in June 2023 in Ledger Investing’s Series B funding and co-leading a $47m Series C funding round for Qoala last month with PayPal Ventures.
