Nexsys Technologies, a U.S.-based fintech company that provides a suite of essential tech solutions for mortgage origination and closing, announced on Tuesday it has formed a partnership with insurtech Lemonade to simplify the homeowners’ insurance verification process by using Nexsys’ Clear HOI.
Nexsys reported that by using the product Clear HOI, users will be able to use a tool that digitizes previous manual communication between mortgage lenders and homeowner insurance companies.
“Clear HOI has modernized that process by creating a digital connection between insurers and mortgage lenders – removing unnecessary delays and eliminating potential errors. Now that Lemonade has joined the Clear HOI platform, mortgage lenders will be able to use the innovative tool with even more clients.”
Nexsys further revealed that Lemonade has joined the Clear HOI platform so now mortgage lenders will be able to use the innovative tool with even more clients. Speaking about the collaboration, Mike Lyon, Executive Vice President of Nexsys, stated:
“We are proud to have Lemonade on board. We are quickly seeing the mission of Clear HOI being realized as more lenders and insurance providers sign on. We are approaching a tipping point where companies will realize that offering Clear HOI, and other innovative Nexsys tools, will allow them to compete and deliver a better experience for their clients.”
Nexsys went on to add that by using these APIs, the company will work with Lemonade’s AI-powered insurance platform to provide an easy integration between Lemonade and a mortgage lender’s LOS.
“This integration will allow Lemonade to quickly confirm a client has provided consent to share their insurance information, which in turn will maximize efficiency.”
Lemonade provides home-owner/renters insurance in both the United States and parts of Europe. Lemonade is licensed to provide insurance in 41 states in the US, with live operations in 28 (including DC), and Germany and the Netherlands. Lemonade holds a pan-European license and thus is able to sell insurance in 31 different European countries. The insurtech recently launched an initial public offering (IPO) on the New York Stock Exchange.
