Property data provider Estated announced last week it has integrated with Blend Insurance Agency, a subsidiary of digital lending platform Blend. According to Estated, Blend Insurance Agency is currently building on Blend’s core services and mission to improve the home buying experience by removing issues from the mortgage lending process.
While sharing more details about the Blend Insurance platform, Blend’s Head of Insurance, Greg Isaacs, stated:
“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.”
Through the integration, Estated is providing Blend Insurance Agency with data points for calculating accurate replacement costs required to secure insurance policy quotes as part of the mortgage application process. Isaacs also shared:
“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.”
Joshua Fraser, CEO of Estated, went on to add:
“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.”