Announcing: Side-by-side insurance comparisons and verified reviews
It’s been an amazing couple of months for us here at Marble. Since we started out, we’ve been determined to build tools that are actually useful for people with insurance (which roughly translates to 92% of the American population!). Now, four months after launching our beta, we are starting to see that vision come to life.
Our roadmap, at a high level, has always covered five big themes:
- Help our members organize their insurance in one digital account (43% of Americans report that they still keep their insurance info in PDF form or paper printouts)
- Push rewards to Marble members for not only being engaged with their insurance and risk, but also for helping us build a truly collaborative community
- Make it easy for Marble members to save by easily shopping for new rates right from their Marble account
- Build a community of engaged Marble members who can help each other navigate insurance using modern tools and high-quality, verified data
- Allow our members to route all of their premium payments through one secure account, providing a predictable and smooth experience for every insurance expense
Led by Marble’s amazing team, and with the guidance of our loyal Marble Ambassadors, we’ve already started to tackle goals 1-3. And the response has been amazing.
We now have nearly $4 million in insurance premium securely stored on the platform, thousands and thousands of Marble members, and, when looking at unique web traffic, we’re one of the fastest growing insurtechs...ever? We still have a lot to do and improve, but with our members’ help, we’re on the right track!
So it’s on to goal 4 then — and today I’m excited to announce the launch of Marble Insurance Insider 2.0!
What is Insurance Insider 2.0?
- It’s the first (we think) place for double-verified insurance reviews. Double-verified to us means: Marble members can trust that the feedback in Insurance Insider is from real people who actually have insurance from the company they are reviewing. No spam bots, phony marketing campaigns, or grumpy randos here. This is the real stuff you need to know!
- Insurance Insider 2.0 has a live catalogue of the current discounts that carriers are offering. We’re not quite there yet, but in the coming months, we’ll start flagging relevant discounts for our members, using the policy and asset information we have securely stored in their wallet.
- Our earliest members requested an easy way to compare insurance carriers using the information in Insurance Insider. We built that too! You can now compare any two carriers, look at them side-by-side, and get the information you need to decide which provider is right for you. And since most people get their insurance advice from friends and family, we made it easy to share these reports with a quick link.
And why did we build it?
- From the outset, we’ve always known it was critical to deliver information and insights within the Marble ecosystem. Sure, we want to be a “wallet,” but that’s only part of it. We want to be your Mint for insurance accounts, your frequent flyer program for rewards — and this means we need to do more than document storage.
- We see Insurance Insider 2.0 as our first baby step towards solving the information asymmetry problem in insurance. Insurance companies spend big to get the best (in other words, most current and accurate) data. They gather and buy this data to create very, very well-tuned underwriting models. These models are amazing — they’ve kept a lot of these insurance companies around, protecting people and their belongings for a long time!
- However, for nearly as long (it’s gotten a bit better in recent years), customers have not had nearly the same access to authenticated, comprehensive competitive intelligence. Insurance shoppers are often left to navigate their insurance options using referrals from friends, outdated SEO-content, or whatever else they can find.
- We think that with Insurance Insider 2.0, we can start to move some leverage back to the community. After all, insurance at its core is a community product — you are sharing risk with a pool of other insured individuals — and we think that by sharing verified, credible community insurance feedback, supplemented by the best data sources available to us, we’re giving consumers some of their edge back. And that’s why we built insurance insider 2.0.
And, of course, the best way to take advantage of this new tool is to create your Marble account today (if you haven’t already!) and add your first policy (if you haven’t already!). Once you’re up and running, you’ll easily be able to compare your existing coverage to others. Or, give Insurance Insider 2.0 a test run right now and let us know what you think — we’re always eager for feedback.