National Bank Insurance (NBI), a trademark of National Bank of Canada, has partnered with Breathe Life, an insurtech company that specializes in direct online insurance distribution, the Montreal-based companies announced Friday.
The partnership will accelerate online availability of life insurance products to clients in a secure way, NBI says in a news release.
NBI’s latest term life insurance product, designed by Breathe Life, will be offered via a network of licensed agents attached to National Bank Insurance Firm Inc., the release says.
The product features an integrated single-session quote creation and application process, and offers up to $30,000 of critical illness coverage and up to $750,000 of coverage eligibility.
Ian Jeffrey, co-founder and CEO of Breathe Life, says that the life and health insurance category is a relatively untapped financial segment, especially online. NBI has “seized the opportunity […] in reshaping the insurance industry with a customer-centric approach,” Jeffrey says in a statement.
Since NBI’s term life insurance product has been offered online, 70% of traffic and purchases originate from mobile devices, says the release.