MONTREAL–National Bank Insurance announces today a partnership with Breathe Life, a leading Canadian InsurTech specialized in developing direct online insurance distribution solutions. This alliance will accelerate the availability of more secure and frictionless life insurance products to consumers directly online.
Designed by Breathe Life and offered via a network of dedicated licensed agents attached to National Bank Insurance Firm Inc., National Bank Insurance’s latest term life insurance solution is among the most competitive in the market. It features an integrated single-session quote creation and application process. The solution presents unique advantages including up to $30,000 coverage in the event of a critical illness diagnosis and up to $750,000 coverage eligibility.
“We’re thrilled to team up with a market leader like Breathe Life to continue driving forward relevant and seamless solutions for our clients,” said Peter D. Thompson, Senior Vice President, Insurance and President, National Bank Insurance. “We’re proud to offer the most differentiating life insurance product of this category in the market, which truly reflects consumer habits, preferences and needs. For us, it’s fundamental to empower clients to choose how and when to purchase insurance, in a secure and effortless way. And for clients who want support in the process, our seasoned team of agents is only a phone call away to provide guidance and advice.”
“The life and health insurance category is a relatively untapped financial segment, especially in the online space. We’re excited to work with a partner like National Bank Insurance that has seized the opportunity of taking a leadership role in reshaping the insurance industry with a customer centric approach,” mentioned Ian Jeffrey, Co-founder and CEO of Breathe Life. “For Breathe Life, this partnership is the first of many more to come and we’re already looking ahead to introduce new breakthrough solutions in the coming months.”
Key features of National Bank Insurance term life insurance product include:
Critical illness diagnosis coverage: In the event of a critical illness diagnosis, National Bank Insurance term life insurance will automatically pay 10% of insured amount, up to a maximum of $30,000.
Flexible coverage: National Bank Insurance term life insurance product offers flexible temporary coverage for 10 or 20-year terms.
Speed: Term life insurance applications can be completed entirely online in a few minutes.
Mobile focused: Simple and rapid application and approval via a smartphone. Since its online launch, 70% of traffic and purchases originate from mobile devices, ensuring engagement with a new generation of online insurance clients.
Dedicated customer service: Clients can schedule an appointment with an agent at any time, even after completing applications or after policy purchase. A fully licensed agent is always available to provide advice and answers as needed.
Coverage eligibility: Term life insurance policy offers coverage up to a maximum of $750,000.
National Bank Insurance is a trademark of National Bank of Canada used under license by some of its subsidiaries, including National Bank Life Insurance Company and National Bank Insurance Firm Inc. With $262 billion in assets as at October 31, 2018, National Bank of Canada, together with its subsidiaries, forms one of Canada’s leading integrated financial groups. It has more than 23,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity.
The Breathe Life platform delivers a modern, customer-centric experience with tools and analytics that are reshaping the insurance industry and driving business growth. By transforming the distribution of life insurance to digital, consumers can purchase products on their own from the comfort of their home, and financial advisors can move faster and reach new audiences using our software solution. With significant financial back from Diagram Ventures and a variety of angel investors, our funding portfolio gives us a unique advantage in the industry. At our core, we are building technology that brings financial security to all people, whoever and wherever they are.