TORONTO--(BUSINESS WIRE)--Parachute Digital Solutions Inc. (“Parachute”), a Munich Re company, is proud to announce its newest agreements with Sonnet Insurance (“Sonnet”) and Petline Insurance (“Petline”). With shared missions of being technology focused, data-driven, and evolving the traditional insurance buying experience, these alliances are collectively poised to deliver home, auto, pet, life and health insurance to employee and affinity groups, and individual customers.
“It is rare to see the world of property and casualty intersect life and health insurance via a completely digital, end-to-end insurance platform. These agreements not only challenge the insurance sector as many know it, but use innovation to combine processes that have almost always been fulfilled by different businesses,” said Richard Letarte, President & CEO, Parachute Digital Solutions. “As a result, both distribution and the overall customer experience are enhanced. Breaking this traditional mold has and will continue to bring value to Parachute, Sonnet, Petline and their many customers.”
Parachute’s cutting-edge, end-to-end digital platform complements Sonnet’s innovative and customer-focused approach to insurance. Corporate and association groups using Parachute will be able to access Sonnet home and auto insurance products. Sonnet customers will be able to access life and critical illness insurance products on the Parachute platform through Sonnet Connect.
“Since our founding, Sonnet has set out to change insurance for the better, and by teaming up with Parachute we’re taking a holistic and entirely digital approach to rounding out the coverage experience for our customers,” said Roger Dunbar, SVP, Sonnet. “This relationship makes it faster and easier for our customers to access the full spectrum of personal insurance products.”
With pet ownership on the rise, the Parachute and Petline agreement will allow Parachute groups to obtain Petsecure pet insurance through a group marketing arrangement sponsored by their employers and associations. “Through this new relationship between Petline and Parachute, we’re excited to provide the growing number of Canadian pet owners within the Parachute ecosystem the opportunity to protect their pet’s health now and into the future,” said Raegan Ahlbaum, AVP, Petline Operations.
About Parachute Digital Solutions Inc.
Parachute Digital Solutions Inc., a Munich Re company, is an insurance agency that offers a fully digital, end-to-end platform, hosting an array of insurance and protection solutions with our partners. The company’s platform, Parachute, provides carriers, brokers, employers, associations, and retailers with the tools and tactics they need to help future-proof their insurance business and offerings. For more information, visit www.parachutedigitalsolutions.com. Follow Parachute Digital Solutions on LinkedIn.
About Munich Re
Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. The company is playing a key role in driving forward the digital transformation of the insurance industry, and in doing so has further expanded its ability to assess risks and the range of services that it offers. Its tailor-made solutions and close proximity to its customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals. “Munich Re” is a registered trademark of Munich Reinsurance Company.
Launched in 2016, Sonnet Insurance Company (Sonnet) is a federally regulated insurance company. Our mission is to provide Canadians with an easy, transparent, and customized way to buy home and auto insurance online. Experience the future of insurance at Sonnet.ca, and say hello on Twitter, Instagram, Facebook, and LinkedIn.
As the first licensed insurance company in Canada to focus solely on pet insurance, Petline is a leader in the pet insurance market since 1989. Petline Insurance Company operates under the Economical Insurance family of companies and has a number of product lines. Their flagship brand is Petsecure pet health insurance, and they launched Peppermint Pet Health Insurance in 2018 as their lower-cost option. Petline helps Canadian pets live longer and healthier lives by enabling their owners to provide the best in pet health care.
Any descriptions of coverage briefly outlined here are meant to be general in nature and do not include or are intended to include all of the actual terms, benefits and limitations found in the insurance policy.