The Lightning Pitch: Swyfft, making home insurance bearable
Headquarters: Mobile, Alabama
Founding Team: Sean Maher
Why we like it: Out of all the products you could be browsing for on the internet, homeowner’s insurance isn’t exactly the most sexy now is it. In fact, it’s as unsexy as you can possibly get. But for those fortunate enough to actually own a home, it is a necessity.
Swyfft takes the pain out of this process by providing lucky homeowners with a quote in seconds. Whereas other online based insurance platforms make you fill out endless, mind-numbing forms, prolonging the pain, all you need to do with Swyfft is type in your address and voila, you’ll have yourself a quote for your big, shiny house, you lucky bastard.
Founded in 2014, Swyfft propels home insurance into the twenty-first century. In a modern day David and Goliath, Swyfft is going up against the giants of the insurance world – think GEICO, Esurance, and Progressive.
In this well-established market, the intelligent home insurance enterprise is disrupting the industry by using unique analytics, big data and artificial intelligence (AI) to save its customers time and money. Furthermore, customers receive an improved online user experience without sacrificing the underwriting integrity provided by traditional insurance firms. Swyfft’s patented Big Data technology uses artificial intelligence (AI) to turn analytical insights into big savings for consumers, all the while ensuring quality home protection.
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Swyfft’s homeowners insurance covers the full cost of replacing your home, with no deduction for depreciation and no dollar limit. What’s more, in addition to covering your home, Swyfft homeowners insurance policy provides important extra coverages including personal property, living expenses, personal liability and medical expenses.
The platform’s web app is simple to use and easily customizable. Users simply enter their home address, with no personal information. Swyfft’s multi-patented AI-driven technology sorts through data points – including, fires, hail, and tornados – to create policies that save an estimated 50% of customers money. Policies can then be quoted, adjusted, bound, issued and emailed to the customer in less than a minute, directly from a phone, tablet or laptop. Now, that’s something that we would write home about or even buy a house for, if we ever had the money.