Insuritas Launches Embedded Insurance Offering with Treads
Park City, UT & East Windsor, CT (December 5, 2022) – Treads App has launched Treads Insurance through a partnership with Insuritas. This agency enables and implements Bundle. Bundle delivers a suite of embedded solutions that enable retail apps, financial institutions, payment and retail platforms to “bundle” insurance products within their existing customer ecosystem or marketplace — all through their very own private-labeled, full-service insurance agency. These embedded agencies allow the agency owners to expand customer wallet share, increase customer retention, and build large scale recurring revenue.
Treads Insurance is a full-service digital insurance agency platform that embeds a full suite of insurance products & coverages within the Treads experience. Treads uses Bundle’s APIs to embed insurance offerings directly within the Treads mobile app, using subscriber information that is already available. Through this embedded experience Treads Insurance sees 82% of their quotes coming directly from inside the app. This is a true testament to the influence ad placements and API integrations in retail apps can have in driving lead volume.
Treads is the first Tire subscription service in the United States. Treads offers the most comprehensive end to end tire coverage providing subscribers new tires for life, including new tire replacements, tire repairs, full roadside assistance and even mobile tire installations and rotations. Thanks to a transparent monthly fee, the subscriber knows exactly how much to budget to keep their car safely on the road with a complete peace of mind.
Zach Olson, the Founder and CEO of Treads noted; “The Treads tire subscription service is designed to promote safety, affordability and peace of mind for car owners. We know that every car needs safe tires, and every driver needs the right insurance coverage at the right price. With Insuritas we have launched Treads Insurance Agency, a fully white-labeled embedded agency solution to offer our subscribers free, no obligation insurance quotes from the nation’s leading insurance carriers, furthering our commitment to help our subscribers keep their cars safely on the road with complete peace of mind.”
The agency includes more than 40 carrier partners and will offer products including auto, home, renter’s, commercial, pet, identity theft, and travel insurance.
“We’re delighted to announce our relationship with Zach and the team at Treads. Treads is our first SaaS platform partner, and we are proud to have earned the opportunity to build and run a full service, digitally powered insurance agency for Treads and their customers,” said Insuritas President Jeff Chesky. “Through our relationship, Treads will now be able to provide simple, seamless access to competitive options for their customers’ insurance needs, all with a focus on delivering the right coverages at the right price at the right time.”
Bundle features a virtual insurance agent powered by Artificial Intelligence and predictive analytics that is engineered to include a full service ‘online to offline’ insurance shopping experience with licensed professional agents, along with rapidly emerging bind online capabilities. To learn more about BUNDLE, visit: BUNDLESolution.com
Treads is a simple monthly subscription for your vehicle’s tires starting at $30/month. We are focused on redesigning the tire purchasing and maintenance experience to make car ownership more enjoyable while creating safer roads for everyone.
Learn more at https://get.treads.app/subscribe.
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The Insuritas mission is to connect people to the insurance products they need through a seamless, transparent shopping experience where carriers compete to provide them with the right coverage at the right price. The Insuritas meta-agency platform, deployed across a network of partners serving over 11M customers nationally, empowers financial institutions to leverage proprietary data-mining techniques and integrations with a broad array of insurance carriers to make highly personalized, digitally optimized insurance offers to their depositors, all within their brand. These strategies help further their commitment to the financial well-being of their customers, while driving a critical source of non-interest income for their institution. For more information, visit www.insuritas.com.