BURNABY, B.C. -- TIO Networks Corp. has launched the KEY A-D insurance offering to ExxonMobil customers and other TIO convenience retail networks.
KEY A-D, which is underwritten by Stonebridge Casualty Insurance Co., will provide an accidental death benefit for $12 a year. The offering will launch initially in Texas and Tennessee in On The Run and Tigermarket locations with a long-term plan for a nationwide rollout that will encompass multiple offers, markets and retailers.
When I was approached by Stonebridge to sell an insurance [image-nocss] product on our bill payment network, I was immediately interested, said Hamed Shahbazi, chairman and CEO of TIO Networks, Burnaby, B.C. We strive to offer products to the cash-preferred demographic, and this product has been developed specifically for TIO's customer base.
David Taylor, U.S. category manager for Exxon Mobil Corp., Irving, Texas, said, Our customers have been requesting more financial services be offered on our terminals. KEY A-D insurance supports our strategy to provide services to the underbanked consumer.
Margo K. Lucero, kiosk senior marketing manager for Columbus, Ohio-based Stonebridge Casualty Insurance, added, We are excited about the opportunity to test a new distribution channel. TIO Networks and ExxonMobil are ideal partners to determine the effectiveness of insurance offerings in convenience stores.
TIO Networks is building a national multi-retailer network of financial services kiosks for the cash-preferred consumer marketplace in North America, with more than 900 locations and six top-tier corporate-owned c-store chains participating.
Stonebridge, a direct-response insurer, offers families ways to help protect their financial assets. It offers insurance plans directly to consumers via mail, phone and the Internet. Stonebridge is a member of the Netherlands-based AEGON Group, one of the world's largest insurance organizations.
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