Cubiertapr.com platform launched to sell life insurance strictly online
Puerto Rico-based insurance company Coordinated Insurance Services and technology applications and solutions development firm ImaginationSoft joined to develop the digital platform CUBIERTAPR.COM, to promote life insurance plans sold digitally.
“There are insurers in the market that offer certain digital products. However, the life insurance policy that we’re offering through coverpr.com is the first life insurance in Puerto Rico that can be bought digitally,” said Edwin Díaz, president of Coordinated Insurance Services.
“The life insurance application process has traditionally been a long and complicated one. Now consumers have an accessible product, easy to request, and with an immediate eligibility response, which we believe will meet customer expectations,” said Díaz.
The life insurance product offers coverage ranging from $25,000 to $250,000 in benefits with terms of 10, 20 or 30 years. Premium payments start at $10. The basic plan includes natural or accidental death.
The consumer will also have the option of including additional coverage such as premium payment for disability life insurance and coverage for funeral expenses. This product is a Universal Life Insurance Company coverage plan that Coordinated Insurance Services will offer.
Unlike other types of life insurance, this policy does not require a medical exam.
“The consumer will have to complete a form that includes a brief questionnaire based on general medical questions,” said Nelson Mejías, president and solutions architect of ImaginationSoft. “Once this form is completed, the qualification, the quote and the policy payment alternatives are available through the platform.”
The entire process can be done from any computer or mobile phone. The platform is available 24/7. The platform also offers insurance for funeral services with coverage ranging from $1,000 to $10,000.