Housing.com Offers Rent Protection Cover With Riskcovry Partnership

REA Group-backed Housing.com has teamed up with insurance platform Riskcovry to offer a rent protection product for tenants and property owners.

Riskcovry's API will be integrated into Housing.com's platform and will cover rent protection in case of accidental death and critical illness, with premiums embedded into monthly rental payments.

Housing.com tenants can now get Rent Protect Cover starting from as little as $1.20 per month, including coverage for 15 serious illnesses, personal accidents and medical expenses in case of hospitalisation. Tenants will be able to pay their premiums and make claims through Housing.com's platform.H

Dhruv Agarwala, Group CEO at Housing.com, said:

"Our vision is to deliver trustworthy experiences for Housing.com’s consumers that they will cherish for a lifetime. The keyword here is trust. A big part of 'why insurance' is to seamlessly deliver solutions that bridge that trust gap, in this case between our owner and tenant communities.

"Over the past few years we have diligently executed on our strategy that is focused on providing best in class consumer experience on our platform that will eventually make us the most preferred destination that offers full stack services in the residential real estate space, catering to the needs of home buyers / sellers / renters and allied service providers."

Suvendu Prusty, founder director at Riskcovry, said:

"This partnership symbolises a 360-degree view of the role embedded finance can play and how insurance can be the differentiating experience for a company and its customers. Combined use-cases of payments and credit and insurance are converging … we see fintech and insurtech as complementary spaces converging faster than ever before."

The partnership is in line with Housing.com's strategy to deliver end-to-end services for its customers. The company already offers remote property management through a partnership with Homzhub, and the insurance capabilities adds another string to Housing,com's bow.

Housing.com has been aggressive in its investments this year. The portal has already sidestepped agents by offering a user subscription service that launched in August, and just last week announced that it will hire up to 200 people next year to evolve its technological and brand capabilities.

REA Group acquired Housing.com's parent company Elara Technologies in 2017 and renamed the company REA India in 2021. The company has gone from strength to strength since, and registered more than 2 million more website visits than its closest rivals 99acres and Magic Bricks in July this year (according to Similarweb).