Protection broker Anorak has agreed a partnership with Plum that will allow the money management service’s users to buy protection products directly through their app.
Anorak’s platform aims to help users navigate life insurance, income protection or critical illness cover options.
Plum will also notify customers when it detects they are already making life insurance payments and give them the option to check if they could find a better deal via Anorak.
Commenting on the partnership, David Vanek, CEO and co-founder of Anorak, said the firm was thrilled to be working with Plum to work with a widening range of people.
“This partnership comes as we’ve seen a jump in the numbers of millennials coming to us who are curious about life insurance, income protection and critical illness cover, as younger earners wise up to the benefits of having protection policies in place,” he said.
“We’re excited to be growing and developing alongside such a unique and valuable service, as people look for easier, more transparent ways to save money and map out their financial futures.”
Charlie Bailey, head of partnerships at Plum, added: “Anorak has a great mission around making life insurance and cover simple, convenient and user-friendly.
“This makes Anorak a natural partner for us as we expand our bills offering to give customers better options for protecting their finances in-app.
“Our next step will be to add helpful prompts for customers so that they are well-informed about their financial choices throughout their lives.”