Challenger bank N26 to offer insurance products
Fintech startup N26 is launching N26 Insurance as it plans to offer insurance products that you can access from the company’s mobile app and website. The first insurance product is a smartphone insurance plan for German customers.
But the startup doesn’t plan to stop there. N26 says it is also working on private liability insurance, home insurance, life insurance, pet insurance and coverage for bikes, electronics and large purchases.
The idea is that you’ll be able to purchase coverage, manage your plans and initiate claims within the N26 app. As N26 already has your personal information, it should be easier to sign up to a new insurance product through N26 compared to creating a new account in a separate app.
The challenger bank isn’t becoming an insurtech company overnight. Instead, it is partnering with other companies, such as Simplesurance, for those products.
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