The Fabric app was designed to make it easier for parents to organize their long term financial plans. The app is intended to serve all of a person's financial needs, including the ability to access life insurance, create a will, and organize financial accounts and documents.
The Fabric app is able to simplify the financial needs of families. Previously people would have to meet with agents to apply for complicated policies, but through Fabric, they can fill out a 10-minute application to access a life insurance policy. The app is currently available for both iOs and Android devices.
Adam Erlebacher, the Fabric CEO and co-founder spoke about the app, "Money can be especially stressful when you’re trying to build a family and a career."
All-In-One Financial Service Apps
The Fabric App Helps Families Organize Their Finances
Trend Themes
1. Simplified Financial Services - The Fabric app simplifies financial needs by providing access to various services, such as life insurance and will creation.
2. Mobile Financial Management - Fabric app enables users to manage their finances conveniently on their mobile devices.
3. Streamlined Application Processes - Fabric app allows users to complete a life insurance application in just 10 minutes, eliminating the need for agent meetings.
Industry Implications
1. Financial Technology (fintech) - The Fabric app disrupts traditional financial services by offering a comprehensive, mobile-based platform for individuals and families.
2. Insurance - Fabric app presents an opportunity to disrupt the insurance industry by simplifying the application process and providing convenient access to life insurance policies.
3. Mobile App Development - The Fabric app highlights the need for innovative mobile app solutions that cater to users' financial management needs in a user-friendly manner.