Walnut

Walnut (gowalnut.com) is a technology enabler for embedded insurance. It provides a single partner integration through which a platform can deploy insurance products inside its own customer journey, positioning launches in days rather than years and requiring no prior insurance expertise from the partner. Companies can integrate through modern APIs or, alternatively, through no-code options that the company says can be deployed in under a day, with dashboards to track customer enrollment.

The product catalogue spans embedded/in-journey, personal lines and commercial categories. Embedded and in-journey offerings include group life, group accidental death and dismemberment, group critical illness, mobile device protection, personal cyber protection (up to $1M in coverage with 24/7 cyber support), product warranties, balance protection, mortgage protection, commercial protection, emergency medical, trip cancellation/interruption and optional coverages such as baggage, high-risk activities and car rental. Personal lines include home, auto, tenant, term life, landlord and recreational vehicle insurance, while commercial products cover small business, large commercial and errors & omissions. Walnut states access to over 14 carriers and provides full-serve licensing together with multi-channel broker support for partners' customers.

Walnut also maintains a consumer-facing side of the business. A December 2021 company post described a digital-first life insurance offering with no physical paperwork, medical exams or in-person appointments, quotes generated in minutes, membership plans starting at $10, term life available in 10-year and 20-year terms, and optional add-on member benefits through third-party brands including ClassPass, Headspace and Dashlane.

Business model

Walnut sells insurance distribution infrastructure to other companies, which embed branded insurance programs into their own platforms and earn revenue from the resulting coverage; Walnut handles insurer integration, licensing and broker support. It also markets a direct-to-consumer insurance membership priced from $10 per month with optional paid access to third-party wellness and security benefits.

Traction

Walnut works with Neo Financial, described as a Canadian neo-bank with over 1 million customers, embedding credit card insurances (extended warranty, rental insurance, purchase protection) and premium plan offerings including mobile phone protection, life insurance and health and wellness benefits. Neo Financial co-founder and CEO Andrew Chau publicly endorsed the partnership.