GlobeNewswire
Insurtech leader to provide home and auto insurance to New American Funding mortgage lending and servicing businesses
Matic, a leading digital insurtech platform, and New American Funding, one of the nation’s largest privately owned mortgage lenders, announced a strategic partnership to provide property & casualty insurance products to New American Funding customers.
Matic has been a pioneer in transforming embedded insurance technology by seamlessly integrating its digital solutions into the home and auto ownership experience. Through this exclusive collaboration, Matic will extend its innovative insurance marketplace, featuring 50 A-rated carriers, to become a core offering within New American Funding’s mortgage originations and loan servicing lifecycle.
“This partnership represents our commitment to providing valuable solutions to New American Funding customers, enhancing their everyday experiences,” said New American Funding Chief Strategy Officer Jeff Kvalevog. “Matic’s robust carrier network and advanced quoting technology meets the needs of our diverse customer base, helping them to understand coverage options and identify savings.”
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All New American Funding clients are eligible to search for P&C insurance through Matic’s proprietary matching technology. In addition to home and auto insurance, Matic will offer umbrella, jewelry, flood, dwelling fire, pet, and other personal lines of insurance to meet customer needs within the New American Funding lending and mortgage servicing experience.
“Matic was designed for the mortgage industry to simplify the insurance purchasing process across key moments throughout the homeownership journey,” said Matic CEO and co-founder Ben Madick. “We are thrilled to collaborate with New American Funding to streamline and enhance the lending and mortgage servicing experience.”
As the leading embedded insurance platform for the mortgage industry, Matic partners with over 100 lenders, servicers, and banks that process 20% of home loans available in the US, including five of the top 15 mortgage servicers in the US, a top 10 global bank, and a top 10 US bank.
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