SoFi announces partnerships to expand insurance offering

The company has partnered with Lemonade and Root to offer homeowners’, renters’, and auto insurance

SoFi announces partnerships to expand insurance offering

Insurance News

By Ryan Smith

SoFi has announced two new partnerships in the insurance space. The partnerships expand SoFi’s portfolio of offerings to include homeowners’ and renters’ insurance through Lemonade and auto insurance through Root.

“Protecting yourself and your assets is a critical and often overlooked piece of your overall financial wellbeing,” said Anthony Noto, CEO of SoFi. “People come to SoFi to get their money right, and we’re pleased to now provide them with more tools to be able to do so by partnering with companies that share our values in ease of use, transparency, and efficiency.”

“Joining forces with SoFi is a natural evolution of our product and distribution channels,” said Shai Wininger, co-founder of Lemonade. “Both companies are driven by customer-centricity and transparency, building products that are simple, fast and delightful. Offering Lemonade’s insurance product to SoFi members is just the first phase of this collaboration between like-minded technology companies challenging the financial industry status quo.”

“Our priority at Root is to put the power back into consumers’ hands by making auto insurance clear and understandable,” said Alex Timm, co-founder and CEO of Root Insurance. “We’re excited to partner with the SoFi team as a means for members to have access to more affordable, accurate and fair auto insurance.”

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