- Betterment teamed up with tech company Sure to offer phone insurance.
- And to further differentiate its offering and enhance its competitive advantage, it should look to add more insurance options.
The US-based digital wealth manager has teamed up with tech company Sure to offer phone insurance, per a press release. Customers of Betterment Checking—the startup’s checking account and accompanying debit card—can purchase coverage for phone damage or theft, as long as they pay their monthly phone bill using a Betterment Visa debit card.
While the claims process is supported by Sure’s platform, the insurance policy is being provided by an undisclosed global insurance company, and customers will receive up to $600 per claim, with a maximum of two claims per 12-month period and a $50 deductible for each claim.
Betterment Checking only launched a few months ago, and enhancing the offering