Rhino partners with Cover Genius in lieu of Lemonade
Rhino is entering the renters insurance space following a partnership with Cover Genius.
The Rhino Renters Insurance Program – underwritten by Markel – starts at $12.50 per month and allows property managers to offer “competitive rates” for renters across multi-region portfolios while giving renters the convenience of managing their policies in one self-serve platform and the ability to provide proof of insurance seamlessly.
Rhino is no stranger to renters insurance. The company first partnered with Lemonade to introduce renters insurance to its users. However, now this partnership is no longer active according to a Rhino spokesperson.
Rhino chose Cover Genius for its embedded, white-labeled solution, which means Rhino doesn’t have to share its brand with others, and because the economics of partnering with Cover Genius made more sense, according to information obtained by Coverager.
“Renters’ insurance is a natural extension of our core offering and a continuation of our commitment to provide renters with smarter and more affordable solutions, By adding renters’ insurance to our product line, we can offer renters more coverage in addition to our flagship security deposit insurance product. Renters can purchase all the protection they need in one seamless experience.” – Paraag Sarva, CEO and co-founder of Rhino.
“With a mission to protect the customers of the largest digital companies, we are excited to collaborate with Rhino to help create a more seamless and beneficial user experience for renters and landlords by bundling renters’ insurance and security deposit insurance. With “convenience” being the primary driver of why 70% of consumers want embedded protection integrated into their digital experiences, this partnership comes at a pivotal moment in the property space, where innovative technologies can be used to enhance the rental experience.” – Dave Brune, president, Americas of Cover Genius.