Nationwide introduces new digital insurance platform

COLUMBUS, Ohio, Sept. 24, 2019 /PRNewswire/ -- For millennials, a smart phone isn't just about staying in touch. It's about making life easier because everything can be done in the palm of your hand - shopping whenever you want, booking dinner reservations, searching for jobs and even making friends jealous with the perfect Instagram post.

With the demands of busy life, the last thing people want to spend their time doing is answering dozens of questions to get insurance. Nationwide is changing that.

In the 4^th quarter of 2019, Nationwide will launch Spire ^SM —a simple, easy-to-understand digital insurance platform designed to be convenient and accessible from your phone. Spire will initially offer auto insurance with future plans to include other products and services that help millennials protect the many aspects of their lives.

Auto insurance…in as little as 60 seconds
Using the Spire mobile website, customers will be able to apply for auto insurance coverage by scanning their driver's license and answering four simple questions - where do you park, how many miles do you drive, do you own or lease your car, and have you had more than two tickets in the past year? The entire process can take less than a minute!

"Nationwide spoke to millennials from all over the country about their experiences with purchasing insurance. Two themes kept surfacing with the people we spoke with – they feel it takes too long and it lacks transparency," said Terrance Williams, president of emerging businesses and chief marketing officer at Nationwide. "Spire's technology will drastically decrease the amount of time it takes people to get auto insurance coverage so they can get back to doing things they love. It will also ensure their premiums are based on factors that are relevant to their actual driving habits and provide coverage explanations that are easy to understand."

Making the insurance-purchasing experience easy…and fun!
Spire will offer coverage and features comparable to typical policies, but with an end-to-end digital platform that cuts out the obstacles many customers feel today. Spire also helps customers cancel their existing auto insurance policy, manage their Spire coverage, file a claim, monitor their own driving habits, provide proof of insurance, and earn relevant rewards based on their driving behavior.

"Each customer is unique and has different needs. Many still like meeting with an agent to discuss their policy, and Nationwide has an option for that," said Williams. "Spire was designed for people who don't require or want that type of experience."

Spire will first be available in Texas in Q4 with additional states to launch in 2020. For more information about Spire, visit www.spireinsurance.com.

Nationwide's innovation journey
Spire is just one example of the innovations happening across Nationwide to reimagine how we provide protection, piece of mind and delight to our customers.

"We're excited about Spire and we're also excited about other upcoming launches in a wave of innovations to come that will help set Nationwide up for the next 100 years," says Scott Sanchez, chief innovation officer at Nationwide.

While innovation isn't new to Nationwide, the company is doubling down using a customer-driven approach.

"Innovation, to us, is delighting customers in ways they can't imagine," said Sanchez. "We use an approach called 'design thinking' to identify the right needs and solve them in the right way."

Nationwide has implemented several other new solutions:

• Nationwide announced a partnership with Slice Labs to develop on-demand rideshare insurance solutions for drivers who work for transportation network companies (TNC), such as Uber and Lyft.
• Nationwide's venture capital team has made several recent investments, including Socotra, Betterview, Nexar, BlueVine, blooom, Insurify, Next Insurance, Matic and Sure.
• Nationwide plans to open a new innovation center in the Arena District near its Columbus, Ohio-based headquarters in 2019.

About Nationwide
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor's. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com. Follow us on Facebook and Twitter.

Nationwide, Nationwide is on your side, the Nationwide N and Eagle, and Spire are service marks of Nationwide Mutual Insurance Company. © 2019

Contact:
Jarrett Dunbar
(614) 249-6349
media@spireinsurance.com

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SOURCE Nationwide