Assurant and Updater Sign Strategic Partnership to Simplify Move-Ins for Property Management Companies and Renters

Rhea-AI Summary

Assurant (NYSE: AIZ) has announced a multi-year partnership with Updater, becoming the preferred renters insurance provider in Updater's relocation technology platform. This collaboration aims to streamline the moving process for residents by embedding Assurant's insurance product into Updater's app, enhancing the onboarding experience for property management companies and renters. Assurant’s Cover360® solution will allow residents to seamlessly purchase renters insurance, often bundled with their rent payment, improving customer convenience. The partnership aligns with Assurant's strategic digital initiatives and showcases their commitment to innovation in the multifamily housing sector.

Positive

• Multi-year partnership with Updater enhances Assurant's market positioning.
• Integration of Assurant's renters insurance into Updater's app streamlines customer onboarding.
• Cover360® solution allows bundling of insurance premiums with rent payments, increasing customer convenience.

Negative

• None.

Assurant will serve as the preferred renters insurance provider within Updater’s widely-used moving and tenant onboarding app

ATLANTA--(BUSINESS WIRE)-- Assurant, Inc. (NYSE: AIZ), a leading global business services company that supports, protects and connects major consumer purchases, announced it has signed a multi-year partnership with Updater, becoming the preferred renters insurance provider for the fast-growing resident onboarding and relocation technology company. The partnership will include an integration that embeds Assurant’s industry-leading renters insurance product into the moving app that Updater provides Property Management Company (PMCs) clients, creating a frictionless move-in experience for renters.

“Partnering with forward-thinking companies like Updater aligns with our long-term digital and strategic initiatives,” said Ryan Lumsden, president of Multifamily Housing at Assurant. “As leaders in the Multifamily Housing industry, our role is not only to protect our Property Management Company clients and end customers, but to push the industry forward with innovative solutions, creative ideas, and synergistic partnerships. We partnered with Updater because its resident onboarding product not only drives tangible value for both property management companies and renters, but finds new ways to push the multifamily industry forward with technology.”

Many of the nation’s leading PMCs use Updater’s app to create a seamless onboarding experience for new residents with its product Updater Pro | Onboarding (UPO). UPO is a real-time, two-sided platform that helps property managers automate and track move-ins and helps residents organize and complete all moving-related requirements, such as securing renters insurance, registering pets, submitting proof of utility connection, and more. Additionally, residents can use Updater’s full feature set to plan and purchase everything for their move including telco services, packing supplies, moving companies, mail forwarding, and more.

Assurant’s products will be available in the Updater app for residents of properties that require renters insurance. Residents can seamlessly purchase and, in certain cases, bundle the premium with their rent payment. The partnership between Assurant and Updater builds on Assurant’s history of embedding value-add protection products where end consumers want them. Assurant Cover360® is a comprehensive solution that Assurant evolved from its point-of-lease product. After a resident signs a lease, Cover360 enables PMCs to offer Assurant's Pay-with-Rent insurance premium that is conveniently bundled with their rent.

“Moving is hectic and stressful, and our partnership with Assurant will introduce a modern and frictionless experience for residents to select the most comprehensive insurance coverage. We view this as essential for peace of mind,” said David Greenberg, Founder and CEO of Updater. “We chose to partner with Assurant because of its long track record of innovation in the Multifamily Housing space, market leadership, financial stability, and its ability to deliver outstanding digital experiences. Together, we plan to make the renter’s transition to a new home as smooth as possible.”

About Assurant

Assurant, Inc. (NYSE: AIZ) is a leading global business services company that supports, protects and connects major consumer purchases. A Fortune 500 company with a presence in 21 countries, Assurant supports the advancement of the connected world by partnering with the world’s leading brands to develop innovative solutions and to deliver an enhanced customer experience through mobile device solutions, extended service contracts, vehicle protection services, renters insurance, lender-placed insurance products and other products. Learn more at assurant.com or on Twitter @AssurantNews.

About Updater

Updater is the go-to destination to conquer your move. We started in 2010 with a vision to transform the painful and complex process of moving into a frictionless and delightful online experience. Today, Updater is the industry leader in relocation technology, facilitating more than 25% of annual household moves in the U.S. We provide both consumer and business-facing solutions to drive value for all parties in the relocation ecosystem. Our portfolio of relocation brands includes Updater, Dolly, and MoveHQ. Dolly, a subsidiary of Updater, is the premier app to book on-demand moving and delivery services, with a 4.7-star rating in the App Store across over 30,000 reviews. MoveHQ, a subsidiary of Updater, provides widely-used technology that helps moving companies run their businesses, from driver applications to warehouse management solutions, and more. Updater is headquartered in New York City. For more information, please visit www.updater.com.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20230426005035/en/

Assurant Media Contact:

Andrew DeChellis

Andrew.dechellis@assurant.com

Updater Media Contact:

Jenna Weinerman

jenna@updater.com

Source: Assurant, Inc.

FAQ

What is the significance of Assurant's partnership with Updater?

Assurant's partnership with Updater enables them to become the preferred renters insurance provider, enhancing the onboarding experience for tenants through seamless integration of insurance into Updater's moving app.

How does Assurant's Cover360® product work?

Cover360® allows property management companies to offer renters insurance that can be bundled with rent payments, facilitating easier access for residents.

What impact does this partnership have on Assurant's business strategy?

The partnership aligns with Assurant's digital strategy, focusing on innovative solutions and seamless customer experiences in the multifamily housing market.

When was the partnership between Assurant and Updater announced?

The partnership was announced on April 26, 2023.

What type of insurance will Assurant provide through Updater?

Assurant will provide renters insurance as part of its integration with Updater's onboarding platform.