Obie, a UK-based proptech startup, has secured $25.5 million in funding to introduce embedded insurance for real estate investors. The funding round was led by Eight Roads Ventures, with participation from existing investors including Crane Venture Partners and LocalGlobe.
Obie’s platform offers a range of services to help real estate investors manage their properties, including rent collection, maintenance, and tenant screening. With the new funding, Obie plans to introduce embedded insurance into its platform, allowing investors to purchase insurance policies directly through the platform.
Embedded insurance is a relatively new concept in the insurance industry, but it has gained popularity in recent years. It involves integrating insurance products into other services or products, such as a banking app or a real estate platform. This allows customers to purchase insurance seamlessly and easily, without having to go through a separate application process.
For real estate investors, embedded insurance can provide several benefits. Firstly, it can save time and effort by allowing investors to purchase insurance directly through the platform they are already using to manage their properties. Secondly, it can provide more tailored insurance products that are specifically designed for real estate investors, rather than generic policies that may not meet their specific needs.
Obie’s embedded insurance offering will initially focus on landlord insurance, which covers risks such as damage to the property, loss of rent, and liability claims. However, the company plans to expand into other areas of insurance in the future.
The introduction of embedded insurance is part of Obie’s broader strategy to become a one-stop-shop for real estate investors. By offering a range of services on its platform, Obie aims to simplify the property management process and help investors save time and money.
The funding round will also allow Obie to expand its team and accelerate its growth. The company plans to hire more staff in areas such as product development, engineering, and customer support.
Overall, Obie’s introduction of embedded insurance for real estate investors is an exciting development in the proptech industry. By offering more tailored insurance products through its platform, Obie is helping to simplify the property management process and provide greater value to its customers. With the new funding, the company is well-positioned to continue its growth and expand its services in the future.
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- Source: https://zephyrnet.com/obie-brings-home-25-5-million-to-bring-embedded-insurance-to-real-estate-investors-finovate/