Insurtech startup Marble secures $2.5m seed round, launches first digital wallet and rewards for insurance

Marble, the first digital wallet and loyalty platform for insurance, announced $2.5 million in seed round funding, with investors including IA Capital Group, MS&AD Ventures, Reciprocal Ventures, Fintech Ventures Fund, The Takoma Group, and HU Investments.

Marble, founded and launched in private beta in 2020, acts as a one-hub, digital wallet where customers can seamlessly manage all of their personal insurance details and payments. Marble is also the first and only platform that allows you to earn rewards on your insurance, which you can redeem in a variety of ways, including towards premium payments.

Stuart Winchester, Founder and CEO, Marble: "Marble is the first truly transformative insurtech product in a long time. We provide a simple, personalized wallet for our members to take control of all of their insurance, and earn rewards while doing it. The vast majority of insurtech investment over the last decade has been in technology that sells more insurance, faster. Meanwhile, insurance companies continue to spend billions on advertising to attract customers that they will only engage with once a year. Marble's insurance partners leverage our API-powered tech to offer precise rewards tailored to their customers, who stay engaged through rewards and notifications, as well as the ability to bundle, compare, and keep track of all of their policies at a glance. All of this dramatically increases the likelihood of engagement and renewal. Marble is the most engaging and literally rewarding way for the 92% of Americans¹ who are insurance customers to deal with their insurance and insurance companies. We'll also soon have incredible tools that will allow agents and brokers to engage, retain, and acquire business. This investment sets Marble up to grow our team, commit to new partner integrations, and finally start realizing insurtech's promise as a movement that can actually make people feel good about their insurance."

Andrew Lerner, Managing Partner, IA Capital Group: "Marble is a win-win for customers and insurers. Customers are demanding a better way to manage their disparate policies and accounts. Insurers want a better way to engage with customers. Both would rather have insurers spend billions of dollars less on advertising, and have Marble give those billions of dollars back to the customer. As the longest tenured and most experienced venture capital firm predominantly focused on insurtech, IA Capital couldn't be more pleased to have incubated and invested in Marble, an ambitious insurtech company that has the potential to uniquely disrupt all personal lines of insurance."

Tiffine Wang, Partner, MS&AD Ventures: "We really love what the team is building at Marble. Marble is giving power and transparency back to consumers, along with rewards. It's creating a brand new experience for the next generation of insurance policy holders. MS&AD Ventures is excited to be part of the journey as Marble scales and grows its world-class fintech team."

Marble is currently in beta and plans to open its platform to any U.S. personal policy holder in March 2021. 

www.marblepay.com