Licensed in all 50 states, Matic helps lenders and servicers integrate homeowners insurance into the mortgage process by providing insurance at the point of sale from over 40 A-rated carriers. Matic disrupted the mortgage industry by trailblazing the concept of “embedded insurance” within the homeownership experience. This integration helps lenders close loans faster, reduce origination costs and improve the borrower experience. Matic reduces the time it takes to get a policy from an average of 2–3 days to as little as 2–3 minutes. Through integration with lenders and servicers, borrower and property data from Loan Officer Systems and Point of Sale systems is leveraged by eliminating the need to enter data manually. Matic automatically connects borrower information to its network of over 40 insurance carriers to find the best policy for the best price.
- Existing mortgage customers receive personalized quotes and can purchase a policy online in minutes, saving an average of 33% or $625 in insurance premiums.
- In 2021, it identified $20.7 million in consumer savings over the course of delivering more than 48.2 million quotes.
- Partner studies have shown that customers who purchased insurance through Matic were 2 times more likely to recapture than the overall customer base.
Loan Origination, Servicing