Matic Insurance surpasses 100 mortgage lending and servicing partnerships
COLUMBUS, Ohio, Oct. 5, 2022 /PRNewswire-PRWeb/ -- Matic, a leading digital insurtech platform, announced today a new partnership growth milestone of securing more than 100 partnerships with leading mortgage lenders, servicers, and banks to offer an integrated insurance shopping experience to their customers. Matic expects the growth to increase as adoption of new revenue sources that fit naturally into the homeownership experience continues to gain traction.
Matic's P&C insurance platform was built by mortgage industry vets specifically for the mortgage industry to make closing a loan easier, faster, and less painful for borrowers and lenders by integrating the home insurance shopping process into the home buying experience. As a trailblazer of embedded insurance, Matic offers choice and flexibility for borrowers with 45 insurance carriers available in their network.
"This year has brought many unknowns to the market. With rising interest rates and declining refinance volume, mortgage lenders are adding complementary products to generate revenue and keep borrowers and loan officers engaged," said Ben Madick, CEO of Matic Insurance. "Integrating Matic into the home closing and servicing process requires little to no technical lift and we're thrilled to see more mortgage institutions adopt our solution and prioritize a digital-first customer experience."
Matic is the only insurtech that combines an online marketplace of 45 A-rated insurance carriers and the ability to buy directly online or work with a licensed agent. This digital-first, choice model provides an exceptional customer experience for borrowers that is easily accessible through their mortgage provider. Today, Matic works with five of the top 15 mortgage servicers in the U.S. Over the past 12 months, Matic onboarded mortgage partners across distributed retail, consumer direct, and servicing channels, with recent key partnerships including Lower.com, PRMG, and HSBC.
"Partners choose to work with us because our platform was built for the mortgage industry. Since our go-to-market launch in 2017, we've grown consistently and thoughtfully, always prioritizing the customer experience, as evidenced by our Net Promoter Score of 90, which is unheard of in the insurance industry," said Madick. "We expect to see adoption increase as lenders are looking to fill revenue gaps and provide a digital mortgage experience that automates the loan closing process."
Today, Matic partners with mortgage entities that process over 11MM loans per year. Based on projected future opportunities within Matic's pipeline, this number will continue to increase as mortgage organizations seek new ways to add revenue streams and provide an automated customer experience.
About Matic
Since 2014, Matic has changed the landscape of the insurtech industry by integrating insurance within the home and auto ownership experience. Today, Matic's digital insurance marketplace has 45 A-rated home and auto carriers, as well as distribution partners in industries ranging from mortgage origination and servicing to banking, real estate, and personal finance. With a single-minded focus on advocating for policyholders, Matic has created an effortless and transparent comparison shopping process, saving customers days of work and over 30% in premiums each year. For more information, visit matic.com.
Media Contact
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Media Contact
Jenna Pearlstein, Matic Insurance, 1 (888) 380-6623, [email protected]
SOURCE Matic Insurance
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