Matic Insurance Launches Exclusive Partnership with New American Funding
Insurtech leader to provide home and auto insurance to New American Funding mortgage lending and servicing businesses
Columbus, Ohio, Oct. 04, 2023 (GLOBE NEWSWIRE) — Matic, a leading digital insurtech platform, and New American Funding, one of the nation’s largest privately owned mortgage lenders, announced today a strategic partnership to provide property & casualty insurance products to New American Funding customers.
Matic has been a pioneer in transforming embedded insurance technology by seamlessly integrating its digital solutions into the home and auto ownership experience. Through this exclusive collaboration, Matic will extend its innovative insurance marketplace, featuring 50 A-rated carriers, to become a core offering within New American Funding’s mortgage originations and loan servicing lifecycle.
“This partnership represents our commitment to providing valuable solutions to New American Funding customers, enhancing their everyday experiences,” said New American Funding Chief Strategy Officer Jeff Kvalevog. “Matic’s robust carrier network and advanced quoting technology meets the needs of our diverse customer base, helping them to understand coverage options and identify savings.”
All New American Funding clients are eligible to search for P&C insurance through Matic’s proprietary matching technology. In addition to home and auto insurance, Matic will offer umbrella, jewelry, flood, dwelling fire, pet, and other personal lines of insurance to meet customer needs within the New American Funding lending and mortgage servicing experience.
“Matic was designed for the mortgage industry to simplify the insurance purchasing process across key moments throughout the homeownership journey,” said Matic CEO and co-founder Ben Madick. “We are thrilled to collaborate with New American Funding to streamline and enhance the lending and mortgage servicing experience.”
As the leading embedded insurance platform for the mortgage industry, Matic partners with over 100 lenders, servicers, and banks that process 20% of home loans available in the US, including five of the top 15 mortgage servicers in the US, a top 10 global bank, and a top 10 US bank.
Since 2014, Matic has changed the landscape of the insurtech industry by integrating insurance within the home and auto ownership experience. Today, Matic’s digital insurance marketplace has 50 A-rated home and auto carriers, as well as distribution partners in industries ranging from mortgage originations and servicing to banking, real estate, personal finance, and more. With a single-minded focus on advocating for policyholders, Matic has created an easy and transparent shopping process, saving customers hours of work and over 30% in premiums each year. For more information, visit matic.com.
About New American Funding
New American Funding is an independent mortgage lender with a servicing portfolio of more than 250,000 loans for approximately $66.1 billion and approximately 190 nationwide locations. NAF was named #43 on the Fortune 100 Best Companies to Work For® in 2023. The company offers state-of-the-art career training and provides its branch Loan Officers with innovative technologies to streamline the mortgage process.