Assurant picks up an embedded insurance partner – RangeWater
Assurant has signed an agreement with Atlanta-based RangeWater Real Estate , a fully integrated multifamily real estate company, to be their preferred provider of renters insurance.
The agreement will grow the distribution of Assurant’s Cover360 product, which enables renters to conveniently pay for renters insurance with their rent, giving property management companies the potential to increase participation in their renters’ insurance program and eliminate coverage gaps.
Cover360 is a solution that evolved from Assurant’s Point of Lease (POL) product. It enables property management companies to offer renters insurance to residents by directing them via text or email to enroll via an online portal once they have signed a lease. There they can either purchase Assurant’s Pay with Rent policy that is conveniently bundled with their rent – or upload coverage from a 3rd party provider.
“RangeWater is an innovative company in multifamily real estate providing exceptional and affordable experiences in the markets they operate. Our partnership will help RangeWater continue to deliver simple, digital experiences to thousands of residents across the country, streamlining the insurance process from before move-in to after move-out.” – Ryan Lumsden, president of Multifamily Housing at Assurant.
The agreement brings Assurant’s pay-with-rent Cover360 solution to RangeWater Real Estate, which operates a portfolio of over 93,000 units across 120 properties.
Bottom Line: See our Embedded Insurance report.