INSUBCONTINENT EXCLUSIVE:
The goal is to offer parents a one-stop-shop that includes the ability to ability for term life insurance from their phone, create a free
will in about five minutes, and collaborate with a spouse or partner to organize key financial accounts or other important documents
the app.Fabric was originally founded in 2015 by Adam Erlebacher, previously the COO at online bank Simple, and Steven Surgnier, previously
the Director of Data at Simple
The company last year raised a $10 million Series A led by Bessemer Venture Partners, after having sold life insurance coverage to thousands
of families.Since launch, Fabric has expanded beyond life insurance to offer other services, like easy will creation and the addition of
tools that help families organize their financial and legal information in one place
complicated life insurance products
Instead, the company offers a simple, 10-minute life insurance application and the option to connect with a licensed team if they need
53 were the most stressed out financially
from the phone and get immediate approval
your will for free, and share that information with key people as well, including the witnesses you need to coordinate with in order to
finalize the will, for example
And a spouse can choose to mirror your will, which speeds up the process of creating a second one with the same set of choices.Fabric also
Many working adults today have not just a bank account, but also have investment accounts, 401Ks, IRAs, and credit cards, or a combination
But their partner may not know where to find this information or where the accounts are held.The app, which we put through its paces (but
It starts off with a short quiz to get a handle on your financial picture
It then delivers you to a personalized homescreen with a checklist of suggestions of what to do next
enter a phone number, the numeric keypad appears, for example, or the integration of address lookup so you can just tap on the match and
with bank-grade security, including 256-bit encryption, two-factor authentication, automatic lockouts, biometrics, and other adaptive
Other apps exist in this space, including will planning apps from Tomorrow, LegalZoom, Qwill, and others
Plus many insurers offer a mobile experience
Fabric is unique because it puts wills, insurance, and other tools into a single destination, without complicating the user
