Ando announces new sustainable insurance program

Ando Money , the banking startup that raised $6 million last year to offer consumers “sustainable banking,” is announcing a new sustainable program that revolves around insurance.

The California-based startup is now offering a program in which it will plant 100 carbon-reducing trees for every customer policy it opens through its insurance partners, including Nationwide and Allstate. Ando customers are currently able to purchase new auto, homeowners, renters, pet and umbrella policies or transfer their existing policies to Ando to serve as their agent. Ando is opening the program to the public in July.

“Ando was founded on the understanding that the best way to fight climate change is by making sure our money isn’t going to the fossil fuel industry. We’ve tackled this issue with our banking services and now we are breaking entirely new ground by opening the door to clean insurance. With this program, our customers have the opportunity to be active participants in pushing for historic change in how the insurance industry does business.” – JP McNeill, president and CEO of Ando.

We tried to sign up and see what the program is about but Ando isn’t accepting new customers at this time.

Bottom Line: The fifth element of modern insurance meets the first element of embedded insurance.