Through partnerships with leading providers including Nationwide and Allstate, Ando will plant 100 trees for every policy it generates and lay the groundwork for 100% fossil-fuel free insurance
SAN DIEGO, June 22, 2022 /PRNewswire/ -- Ando, the sustainable digital banking service, is now offering a sustainable insurance program in which it will plant 100 carbon-reducing trees for every customer policy it opens through its insurance partners, including Nationwide and Allstate. Ando customers are currently able to purchase new auto, homeowners, renters, pet and umbrella policies or transfer their existing policies to Ando to serve as their agent. Ando is opening the program to the public in July.
Ando's goal is to offer the first-ever insurance policies in which none of the customers' premiums will be used to invest in fossil fuels. The company launched in 2021 to provide a banking alternative for the millions of Americans who strive to lower their climate footprint but were unaware of how their deposits at traditional banks were used to invest in fossil fuels. By offering the same alternative in insurance, Ando will expand the scope of financial independence from fossil fuels available to sustainability-conscious consumers.
Ando's overall goal is for customer premiums to be invested in green loans that directly fight climate change.
"Ando was founded on the understanding that the best way to fight climate change is by making sure our money isn't going to the fossil fuel industry," said JP McNeill, president and CEO of Ando. "We've tackled this issue with our banking services and now we are breaking entirely new ground by opening the door to clean insurance. With this program, our customers have the opportunity to be active participants in pushing for historic change in how the insurance industry does business."
According to a report by S&P global, U.S. insurance companies have used customers' premiums to invest $582 billion in fossil fuels. These investments allow gas, oil, coal and other fossil fuel companies to continue building new extraction infrastructure that forestalls the adoption of renewable energy.
About Ando
Ando is the Sustainable Banking platform revolutionizing the financial industry by exclusively and transparently investing 100% of customer deposits into projects and companies committed to fighting climate change (solar energy systems, reforestation, green "building," etc.). Ando, a Certified B Corporation, offers premium banking features, including a 1.5% unlimited cash back Visa Debit card (made from post-consumer recycled PVC), early access to paychecks, and up to $200 of overdraft protection. Also, Ando enables its customers to personally "divest" by guaranteeing customer deposits will never be invested in any facet of the fossil fuel industry. www.andomoney.com
SOURCE Ando
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