Blend, a digital banking platform, has collaborated with Covered Insurance Solutions to enhance the home insurance shopping experience for mortgage customers. This partnership aims to simplify the insurance selection process for homebuyers by offering a wider range of options directly within Blend’s mortgage application workflow. By integrating Covered’s insurance marketplace into Blend’s platform, customers will have access to top-rated carriers across all 50 states, providing them with more choices and better value.
Blend focuses on modernizing the lending journey for financial institutions, particularly in the mortgage application process, to enable faster loan processing and improved service for lenders. On the other hand, Covered Insurance Solutions specializes in embedded insurance, making it easier for borrowers to compare insurance quotes from different carriers within their financial transactions.
As part of the agreement, Covered will also take over Blend’s insurance agency operations, leveraging their compliance, data security, and infrastructure capabilities to enhance service quality for lenders. This collaboration will not only benefit borrowers by providing them with more options and convenience but also help lenders streamline the loan process and improve customer engagement.
Nima Ghamsari, co-founder and CEO of Blend, expressed excitement about the partnership, highlighting the empowerment of borrowers with more choices and better value. Ross Diedrich, CEO of Covered, emphasized the efficiency and customer-centric approach of the collaboration, which will bring enhanced carrier markets and more value to Blend’s lender clients and borrowers.
Overall, the partnership between Blend and Covered Insurance Solutions is set to elevate the home lending experience, providing a more efficient and customer-centric process for mortgage customers. With a focus on enhancing service quality, expanding carrier options, and streamlining the insurance selection process, this collaboration aims to add value to lenders, borrowers, and the mortgage industry as a whole.
