Reciprocal Ventures

Digital wallets have decentralized transactions across a variety of use cases and resulted in simplicity for consumers, with a sole point to manage their finances. 92% of Americans have some form of personal insurance yet there has not been a digital wallet solution for the insurance industry. Marble is a free digital wallet for consumers to manage all their insurance policies in a single place. The startup also offers rewards (up to 5%) for premium payments, saving consumers money. The insurance industry has been extremely competitive with digital-savvy consumers armed with comparison tools to save money on their premiums that are willing to jump carriers more so than ever before. In 2019, 48% of auto insurance holders said they would “definitely renew” with their carrier. That’s down from 59% in 2004. With carriers facing these challenges in retention and looking to attract the next generation of insurance buyers, Marble’s rewards platform increases loyalty and overall customer satisfaction. The company is in beta and plans to accommodate insurance policies from any carrier next month. AlleyWatch caught up with CEO and Founder Stuart Winchester to learn more about the company’s launch, the state of the insurance market, and the company’s seed funding round from investors that include IA Capital Group, MS&AD Ventures, Reciprocal Ventures, Fintech Ventures Fund, The Takoma Group, and HU Investments.