Life is inherently risky, with the potential for accidents, disasters and misfortune lurking around every corner. 🌊🧯👾
That’s where insurance comes in: everyday people (like you) sharing that risk, ensuring no one individual will ever have to bear the enormous cost of a catastrophic event, be it a car accident or house fire.
Risk is baked into insurance premiums and generally, the higher a person’s risk of future catastrophe, the higher his or her insurance price will be.
The situation gets stickier when a few bad apples try to game the system and commit insurance fraud. Per the Coalition Against Insurance Fraud, fraud accounts for up to 10% of claim costs for insurers, costing billions of dollars each year. And, nearly 60% of insurers expect those numbers to keep rising.
Why does this matter to you? Well, the costs of those bad apples are passed on to the other customers of that insurance company.
At Branch, we’re constantly looking for ways to help our customers save money. When we looked at the issue of insurance fraud, we knew there had to be a way to leverage our community to reduce the cost of those bad apples and pass the savings on to our customers.
We found that opportunity by putting trust back into our community—what if we could give neighbors and friends the power to vouch that their friends (our customers) wouldn’t commit insurance fraud? Could we better identify the bad apples or at least identify the good apples and start shifting the cost of insurance accordingly?
Here’s how it works:
Once you become a Branch customer, if you live in a participating state, you can use our app to participate in the Community Pledge program. When you do so, you can ask other Branch customers to vouch that they believe you wouldn’t commit insurance fraud. For each person who does so, you’ll earn a discount off your insurance of 1% - up to 5% - for as long as you’re both Branch customers.
We’re placing a bet that through technology, our community can easily show us the good apples, leaving the bad apples unvouched for and thus easier to identify by our amazing claims team.
The fewer fraudulent claims we pay, the less cost our community bears and if we’re right, we’ll continue to deepen the discount for the good apples, attracting more good people to our community.
It’s that simple. Have another Branch customer vouch for you and save money.
Turns out a little trust goes a long way.
Start saving money on insurance by becoming a Branch customer. See your price for home & auto insurance instantly with just your name and address now.