Roofstock, a real estate investment platform provider, announced today that they are partnering with insurtech Obie to provide streamlined insurance coverage through its platform, according to a company blog post.
The company says investors will now be able to purchase insurance and shop rates from Obie via the Roofstock platform, as well as its free rental property assessment management tool Stessa.
“At Roofstock, our goal is to streamline every aspect of the property buying and managing experience and remove as many administrative barriers as possible. That applies to buying insurance, which typically is not a streamlined, straightforward process, due to complexities in determining the appropriate amount of coverage and inefficient workflows,” Roofstock co-founder and CEO Gary Beasley stated in the company post.
“Plus, for savvy investors who shop around for the best rates, it’s time-consuming. Today we launched an integration with Obie to simplify this entire process,” Beasley said.
Obie’s AI backend enables the company to offer bindable quotes, and also adds benefit to landlords using Stessa with automatic timed reminders on insurance policy expiration dates.
This is significant for those investors using Roofstock’s platform, which enables the purchase of complete or fractional ownership in investment properties.
The company has already booked $4 billion in transactions across more than 70 markets since launching in 2015, according to Crowdfund Insider.
Roofstock most recently raised an undisclosed funding round in June 2021, and a $50 million Series D led by SVB Capital in early 2020. It also began offering fractional property investments in November 2021.