BOULDER, Colo., Oct. 10, 2019 /PRNewswire-PRWeb/ -- Estated, a nationwide property data provider, has integrated with Blend Insurance Agency, a subsidiary of Blend, digital lending platform and FinTech powerhouse.
Blend Insurance Agency is building on Blend's core services and mission to improve the homebuying experience by further removing friction from the mortgage lending process, "The more we learned about the insurance industry, the more we felt uniquely positioned to tackle this problem (delays in the application process) using our access to reliable borrower and property data captured in the application," said Head of Insurance, Greg Isaacs.
Estated provides Blend Insurance Agency (BIA) with critical data points for calculating accurate replacement costs required to secure insurance policy quotes as part of the mortgage application process.
Greg Isaacs explains how instrumental this partnership has been for BIA,"Once we integrated with Estated, we were able to succeed closer to a 90% rate in getting replacement cost. This means the majority of customers are able to get quotes from several insurance carriers without giving us any additional information outside of the address."
Once the property address is entered, Estated's property data API pulls in additional structural information, such as size and age, required to assess replacement cost. By harnessing this data, Blend Insurance Agency is able to better partner with insurance underwriters to expedite accurate insurance policy offers for its customers.
In taking the step to establish BIA, Blend capitalized on the incredible opportunity gap that still exists for FinTech, InsurTech and PropTech vendors set on creating better user experiences through technology and data.
"Estated exists to offer solutions for fast-growing companies like Blend. The existing data providers have archaic technology and business practices that do not provide the flexibility or support Blend deserves/requires. We are thrilled to see our API adding value to Blend's consumers by simplifying the homebuying process," said Joshua Fraser, CEO of Estated.
About Estated
Estated makes accessing quality nationwide data on over 100 million U.S. residential properties simple and convenient. By providing mission-critical data, Estated ensures businesses have the information they need to build, grow and create modern digital experiences for their customers. Visit estated.com to learn more.
About Blend Insurance Agency
Blend Insurance Agency is powered by Blend, a technology platform that's reimagining consumer lending. To learn more, visit insurance.blend.com. All insurance services are provided by Blend Insurance Agency, Inc.
Estated Media Contact:
Meredith Olsen
meredith@estated.com
Follow us on Social
Facebook
LinkedIn
Twitter
SOURCE Estated
SOURCE Estated
Share this article