Toronto — CloudTax, a CRA-certified NETFILE and EFILE application for personal taxes, today announced the launch of its personal lines insurance offering, powered by the Walnut Embedded Insurance Platform. The insurance offering will provide CloudTax users with instant access to competitive rates and expedited policy journeys for home, auto and life insurance coverage.
Today marks the launch of the term life product, providing CloudTax users with coverage from $50,000 to $1 million with 10 to 40 year terms, starting at under $10/month. Users can purchase the policy digitally in under 10 minutes, with no in-person medical exam.
Through personal line insurance offerings, CloudTax will be able to provide additional financial planning tool to its customers.Today’s news expands CloudTax’s portfolio of consumer offerings as it builds a suite of products to protect, and ensure the financial health of Canadians nationwide.
“At CloudTax, we understand the importance of insurance as part of a comprehensive tax planning strategy,” said Nimalan Balachandran, Founder and CEO of CloudTax. “That’s why we’re excited to launch our personal lines insurance offering powered by Walnut. This will provide our users with the peace of mind that comes with having reliable and affordable insurance coverage.”“We are proud to provide CloudTax and its community with a new integrated feature, adding to its growing list of products and services it provides to modern Canadians,” said Derek Szeto, co-founder and CEO of Walnut. “With its new term life insurance offering, CloudTax’s users gain instant access to protect their loved ones with an A-rated carrier within minutes.”
CloudTax is a CRA-certified Netfile application that allows Canadians to quickly and easily file their taxes online. Since 2019, CloudTax has helped tens of thousands of Canadians with the ability to file their taxes free of cost. With its mobile-friendly approach and step-by-step guided platform, CloudTax makes tax filing simple, quick and less stressful. CloudTax also offers support from real tax experts and now provides users with the added convenience of purchasing insurance policies quickly and securely. To learn more, visit www.cloudtax.ca.
Founded in 2020, Walnut is a Canadian and US insurtech that has built technology infrastructure to power embedded insurance for retailers, financial services, and consumer platforms. Walnut’s platform makes insurance simple and convenient – creating greater accessibility for underserved audiences across life, home, renters, auto, and embedded product lines. To learn more, visit www.gowalnut.com.
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