1. AIZ launched HOIVerify Origination for mortgage insurance verification. 2. The solution automates verification, enhancing mortgage process efficiency. 3. HOIVerify allows real-time insurance information access for lenders. 4. Several partners are piloting the platform, including Spring EQ. 5. It aims to create frictionless experiences for borrowers and lenders.
The introduction of HOIVerify can increase AIZ's market share in mortgage services, similar to past product launches that boosted revenue.
The innovation positions AIZ strongly in the mortgage insurance verification segment, promising growth opportunities.
Immediate partnerships and pilot programs will likely lead to quicker market adoption and revenue generation.
Assurant, Inc. (NYSE:AIZ), a premier global protection company that safeguards and services connected devices, homes, and automobiles in partnership with the world's leading brands, today announced the launch of HOIVerify® Origination, an industry-defining, API-enabled solution that streamlines and automates insurance verification during the mortgage loan origination process.
"Assurant's HOIVerify product suite modernizes the complex mortgage loan process," said Greg Tuttle, Senior Vice President of Assurant Lending Solutions. "HOIVerify Origination is a proprietary platform that automates insurance verification at the point of the mortgage approval. With more than 40 years of experience monitoring insurance coverage, and deep carrier relationships providing access to a majority of U.S. homeowner policies, Assurant delivers the most comprehensive and frictionless experience for carriers, lenders, and borrowers."
The integration of HOIVerify Origination into Assurant's data exchange ecosystem creates a seamless experience for all stakeholders in the mortgage lifecycle. Key features include:
Several partners, including one of the fastest growing, highly-rated, lenders in the United States, Spring EQ, are already using the platform as part of a pilot program.
"Assurant is known for their industry-leading solutions, and HOIVerify Origination represents an exciting opportunity to bring more frictionless experiences to both borrowers and lenders," said Adam Stern at Spring EQ.
For more information, visit assurant.com.
About Assurant
Assurant, Inc. (NYSE:AIZ) is a premier global protection company that partners with the world's leading brands to safeguard and service connected devices, homes, and automobiles. As a Fortune 500 company operating in 21 countries, Assurant leverages data-driven technology solutions to provide exceptional customer experiences. Learn more at assurant.com.
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Media Contact:
Andrew DeChellis
andrew.dechellis@assurant.com