Ohio-headquartered startup Branch Insurance announced Tuesday, Dec 17, the launch of Vouch for Me, a new innovative program designed to help customers lower the cost of their insurance.
In a press release, the insurance startup described their new product as “a way to help reduce the risk of insurance fraud,” as it provides customers with the necessary tools to create “a more trusted community.” Primarily developed to help lower the cost of insurance, Vouch for Me enables Brach customers to request a “vouch” from each other in exchange for up to 5% off their insurance.
“We founded Branch out of the deeply held belief that by leveraging the power of community, we could make insurance better and more affordable for everyone,” said CEO and CoFounder of Branch, Steve Lekas. “The concept behind Vouch for Me is simple: if a Branch customer is willing to vouch that you’re a trusted member of the community, we’ll reduce your insurance price by 1% out of the recognition that you’re less likely to commit fraud.”
According to the release, the new product will be available to any Branch customer as soon as he or she purchases a policy on Brach.
Once a user downloads the Branch app, they’ll be able to sync their contacts and identify any friends who are Branch customers. From there, all the user needs to do is send a “vouch request” to their contact (using the app). The contact will then get a short email from Branch asking the user to vouch for their friend with a simple click. Once vouched for, the user will see a 1% discount off their insurance,” the release explained.
The release of Vouch for Me marks the program as the latest addition to the series of innovative services developed by different companies to improve and make insurance more affordable to the public.
