(Bloomberg) — Startup Trellis is offering financial-technology companies software that will let their users compare and purchase auto-insurance policies, a move that comes as fintechs seek to make their digital experiences more comprehensive.
With the product, fintechs will be able to add the insurance-technology firm’s existing Savvy platform to their apps or websites. Customers will be able to switch insurance providers within a single app or website without having to deal directly with the companies, San Francisco-based Trellis said in a statement Tuesday.
The offering comes as U.S. firms including Affirm Holdings Inc. and PayPal Holdings Inc. vie to become “super apps” — single destinations for everything from financial services to food delivery, akin to China’s Alipay or WeChat, India’s Paytm or Singapore’s Grab. Trellis markets its product as a way of giving fintechs more access to financial data from their users.
“We see that there’s a serious race to serve consumers holistically in financial services,” Trellis founder and Chief Executive Officer Daniel Demetri said in an interview, adding that his company’s aim is to put consumer financial services “on autopilot.”
Trellis’s functionality is available to certain consumers in the U.S. Midwest and South through a partnership with insurance company Branch Financial Inc. The startup plans to take the service nationwide in coming months and add similar partnerships.
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