WisePal Launches In-House Independent Insurance Agency Enabled Through Bindable’s Insurance-as-a-Service Platform
The financial wellness startup is tapping into Bindable’s expertise in white-label embedded insurance to deliver P&C protection products directly to its customer base
Boston, MA – Bindable, the industry-leading platform for Insurance-as-a-Service technology and solutions, today announced the launch of a new in-house digital insurance agency for WisePal, a cost-saving software company. Implemented using Bindable’s licensable virtual agency infrastructure, WisePal can now further assist customers in managing their finances by providing the ability to shop for and compare P&C insurance products directly through WisePal’s app and newly created agency team.
“Our company is keenly focused on helping families effortlessly reduce recurring expenses while fostering meaningful, lasting relationships with them. Offering insurance felt like a natural next step for us, but we were determined to do so without disrupting the strong connections we’ve worked hard to build as a new player in the market,” said Ami Shmidman, CEO of WisePal. “After looking at options, it became clear that Bindable was one of the only technology partners who could holistically support us in jump-starting our entry into insurance by giving us the digital tools, expertise, and market access to be successful under our own brand and using our own agent force.”
Bindable’s flexible virtual agency solution has enabled the WisePal team to quickly get to market by avoiding the obstacles typical of launching a new in-house agency, such as significant upfront technology costs and the complex process of securing carrier appointments. With access to Policy CrusherⓇ (Bindable’s robust agent-facing customer relationship management tool, comparative rater, and cross-sell engine) and market entry for their P&C licensed agents through Bindable’s extensive carrier network, WisePal has been able to create a curated choice insurance marketplace that meets a distinct and relevant need for their customers. In doing so, they’ve simultaneously established a diversified, recurring revenue source for their business that drives customer acquisition, boosts retention, and creates a strong competitive advantage.
“After years of experience partnering with leading insurance carriers, brokers, and trusted brands, we’ve seen the significant value our Insurance-as-a-Service platform provides to organizations who are seeking support in launching in-house insurance programs to their captive audiences,” said Bill Suneson, co-founder & CEO of Bindable. “We are incredibly proud to have helped WisePal quickly enter the insurance market in this way and are excited to continue supporting them in their next phase of growth.”
Through Bindable’s solution, WisePal will be able to seamlessly scale their insurance offerings to accommodate their own future carrier appointments and support their growing team of agents as the business expands.
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About Bindable
Bindable is simplifying insurance distribution by developing configurable, connected, and customer-centric digital experiences that holistically support the needs of insurance providers, trusted brands, and consumers. Bindable’s proprietary Insurance-as-a-Service platform features: expertly-designed branded marketplace templates; modern API-powered quoting experiences; complementary agency support services; and access to Policy Crusher®, its licensable customer relationship management tool, comparative rater, and cross-sell engine. Whether enhancing an existing distribution model or launching a virtual agency, top-tier carriers, brokers, and brands leverage Bindable’s comprehensive digital tools and support services to streamline operations, improve customer engagement, and maximize revenue potential through alternative channels. To learn more, visit www.bindable.com and connect with Bindable on LinkedIn, Twitter, and Instagram.
About WisePal
WisePal is a cost-saving software company intended to help families save money on recurring expenses. The company securely gathers all the required information for its customers so expenses can be reduced without filling out long forms or having expertise in the products being compared, enabling people to reduce their monthly expenses without investing much time in it. Learn more at www.wisepal.com.
