Matic Insurance Expands Strategic Partnership With Paramount Residential Mortgage Group
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By Matic Editor
Insurtech leader to enhance property & casualty insurance offerings for PRMG customers
Columbus, Ohio, Jan. 09, 2024 (GLOBE NEWSWIRE) — Matic, a leading digital insurtech platform, and Paramount Residential Mortgage Group (PRMG), a top national mortgage lender, announced today an exclusive partnership to offer Property & Casualty (P&C) insurance products to PRMG customers.
The partnership will bring Matic’s innovative marketplace of over 40 A-rated carriers to PRMG homebuyers through an enterprise-level embedded solution, creating a seamless and efficient process for borrowers to access personalized insurance offerings. Through a new integration, PRMG customers can shop for and purchase insurance within the loan originations experience.
“Since 2018, PRMG loan officers have been leveraging Matic’s integrated technology to provide insurance options for their borrowers,” said Kevin Peranio, Chief Lending Officer, PRMG. “Matic’s marketplace reduces the time it takes to shop for and purchase insurance, ensuring the loan process stays on track. Solidifying our partnership and expanding Matic throughout PRMG will help us streamline our operations and simplify the homeownership journey for borrowers.”
Matic’s embedded insurance technology empowers borrowers to compare rates and coverage during key moments of the homeownership journey, allowing them to identify the best option for their unique needs. Under the partnership, PRMG customers will have access to a variety of insurance products, including home, auto, umbrella, flood, dwelling fire, pet, and other personal lines of insurance.
“Matic’s digital marketplace was designed to sustain downturns in the housing and insurance markets,” said Ben Madick, CEO and Co-founder of Matic. “As the insurance and mortgage industries face increased volatility, more lenders are turning to Matic to provide their borrowers with options. We’re excited to extend our partnership with PRMG to meet customer needs during the lending experience.”
As the leading embedded insurance platform for the mortgage industry, Matic partners with over 100 lenders, servicers, and banks that collectively 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.
About Matic
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 over 40 A-rated home and auto carriers, as well as distribution partners in industries ranging from mortgage origination 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 PRMG
For over two decades, PRMG has built their legacy as a nationally recognized privately held independent mortgage banker with the goal to explore new frontiers of mortgage technology to provide an ever-improving path to evolve with the market and continue to deliver best in class service. As a result, PRMG has successfully helped thousands of borrowers purchase and refinance their homes across the country.
