The integration enables borrowers to shop with leading insurance companies during the mortgage process all in one platform
SAN FRANCISCO, May 17, 2022 /PRNewswire/ — Roostify, a leading mortgage technology provider, now supports integration with the Covered Insurance Marketplace to streamline the homeowners’ insurance buying process and shorten the loan lifecycle. This integration gives borrowers flexibility to shop and compare quotes from over 30 leading insurance companies and quickly purchase it within the Roostify platform.
“Our integration with Covered is a major step in continuing to simplify the home lending process by elevating the customer experience when shopping for home insurance,” says Roostify co-founder and CEO Rajesh Bhat. “We’re helping lenders to offer greater convenience in their workflow and improve customer satisfaction, further exemplifying Roostify’s goal of providing the most customer-friendly, streamlined homeowner journey from start to close.” added Bhat.
Lenders are able to offer competitive advantages through increased operational efficiency by creating a tailored homeowners insurance buying experience within their workflow. They can deliver a self-service borrower experience by allowing borrowers to see eligible quotes in less than 90 seconds and finalize a policy in just 15 minutes, saving an average 3 days in funding their loan.
“Our embedded insurance capabilities are providing a more personalized borrower experience, accelerating transaction timelines and intersecting with the customer when and where they need it most,” commented Ross Diedrich, CEO, Covered. “Roostify’s integration with Covered allows both organizations to truly elevate the home lending experience, with customer satisfaction and convenience at its core.”
Through this seamless experience within the lender portal, borrowers can explore multiple insurance quotes within minutes and quickly compare the annual premiums, dwelling limits, and deductibles. Within the Roostify platform, users can easily connect with Covered Insurance Advisors for education and support through the communication channel of their choice. This integration expedites the loan lifecycle by giving borrowers the flexibility to shop for the best quotes and choose their path to complete the homeowners’ insurance process.
The integration of the Covered Insurance Marketplace is another step forward in the digitization and simplification of the home lending process. It further highlights Roostify’s leadership and ingenuity within the space, along with the company’s continued commitment to help facilitate a better lending experience for both lenders and borrowers.
Based in San Francisco, Roostify was founded in 2012 to modernize and simplify the manual, inefficient mortgage process and create a more enjoyable experience for the customer and lender. Today, Roostify is helping lenders process more than $50 billion in loans each month, from large enterprise banks to thriving independent brokerages. We empower lenders to accelerate and simplify the lending process to help lenders and customers alike unlock more of life’s big moments.
For more information, please visit www.roostify.com
About Covered Insurance Solutions, Inc.
Covered is the leading embedded insurance platform and most trusted partner for lenders, banks, servicers, and fintech companies. As a leading independent, innovative InsurTech, we offer a comprehensive online insurance marketplace with over eight insurance products, personalized quote options from 30+ carriers, and multiple policy purchase methods. We make it easy to compare, shop, and purchase personalized insurance in minutes with the best coverage and rates, while our licensed Covered Advisors add a human touch to the insurance shopping experience by providing tailored service to each customer.
Winner of Housingwire 2018, 2019, 2020 HW Tech100™ and one of Kairos’ “50 World-Changing Startups to Watch”, featured in Wired, Inc. Magazine, and more.