Super Auto App Way.com's Insurance Vertical Hits $60 Million in Annualized Premiums
The company's insurance offering achieves unprecedented growth.
FREMONT, Calif., November 18, 2021 (Newswire.com) - Super app Way.com's auto insurance vertical has experienced unprecedented growth, ranked #1 in product quality, and achieved $60 million in annualized premiums in its first year in market.
Launched in November 2020, the insurtech platform partners with over 120 carriers including Travelers, Nationwide, and Allstate, and provides customers with the most competitive rates available for auto, renters, motorcycle, and home insurance.
With the addition of online binding in October 2021, customers can get a policy bound and activated in just 30 seconds without having to speak to an agent. "Insurance costs will begin to decrease as new ways of doing business evolve and emerging technologies, such as artificial intelligence (AI), come into play. There's a real evolution happening. In return, customers are ultimately winning by getting the best coverage and rates," Way.com's Chief Product Officer Nagappan Arunachalam commented.
In August, the insurance vertical was ranked the #1 product quality insurance app by unit Q.
The #1 financial platform for car ownership, Way.com launched in 2014 with its successful flagship parking reservation app and has added strategic verticals including insurance, auto finance, and car washes.
Way.com reported $120 million in annualized revenue in July 2021, is rapidly expanding into more car service areas, with roadside assistance, cash for gas, and EV charging launching by the end of the year.
About Way.com:
Way.com has quickly become the leading financial platform for the future of car ownership, where 4 million drivers have discovered high-quality car services in one destination. The team at the #1 auto super app believes car ownership should be affordable for all Americans. Customers saved millions in 2020 with the company's tech-forward approach, as they signed up for the best auto insurance rates in-app in seconds. The car services marketplace also finds and reserves the best city and airport parking, sets customers up with the top-rated car washes in the area, and has partnered with thousands of parking locations, car washes, and over 120 insurance carriers covering all 50 states.
Contact: Jeannie Assimos, Head of Content & Communications
Source: Way.com