SoFi’s Choice

San Francisco-based fintech company
SoFi

has launched a financial services comparison site called
Lantern by SoFi

which is powered by auto refinancing company
MotoRefi

. The site is owned and operated by SoFi and connects borrowers with pre-qualified refinance offers that SoFi says can save borrowers an average of $100 a month.

With this announcement, we uncover SoFi’s newest insurance partners and an entry into a new vertical – small business insurance.

Insurance Under the Influce®
Lantern presents two insurance offerings for small business insurance – in partnership with
Attune

and for life insurance – in partnership with
LeapLife

.

Users looking for small business insurance on the Lantern site can – in theory – enter details online and get a quote. SoFi will be paid a marketing fee by Attune when customers make a purchase through this link.

Users looking for life insurance can enter their details to later be presented with several options from life insurance carriers such as Legal & General, Protective, and US Life (wait for the irony). To purchase coverage, the user has to speak with a LeapLife representative. Finally, and obviously, LeapLife will pay SoFi in the event that a policy has been purchased.

This isn’t the first time SoFi has collaborated with a life insurance intermediary as it has a partnership in place with
Ladder Insurance

as of 2018. Users visiting sofi.com and navigating to SoFi Protect are presented with Ladder as their only option for life insurance. The irony is that Ladder took over SoFi’s partnership with
Protective Life

however, Protective Life is now back in business – albeit through the back door – due to its relationship with LeapLife.

LeapLife and Attune join SoFi’s existing insurance partners Lemonade, and Ladder. However, it seems Root Insurance is out of the mix as it’s replaced by
Gabi

, the mobile-first insurance shopper; another indication that SoFi is teaming with partners who can offer its userbase a choice.

The post SoFi’s Choice appeared first on Coverager – Insurance news and insights.

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