Switching Insurers at a Click of Button Coming to an App Near You
The Gist: the London-based fintech startup Plum, which monitors daily spending and automagically sets money aside that the user won’t need, is now betting on Facebook Messenger as the future. “With Facebook introducing payments into Messenger next year, Messenger is set to create a platform to further disrupt banks . Why use your banking app when you can pay your friends via the app and also add a service like Plum which allows you to take control of all aspects of your financial life?” – founder Victor Trokoudes. Wait, there’s more. The startup is also adding another value proposition, which will see to it that customers can easily switch providers, if they are overpaying for financial products. For now, there’s no mention of entering the insurance space, however two companies come to mind. One. Earny. The founder of the mobile app that gets users money back on their online purchases, mentioned his intentions to enter insurance back in 2016. Second. Bitul Polisa. An Israeli startup that offers folks in Israel a convenient way to cancel their insurance policies. Bottom Line: let it churn .