Nexsys Technologies, a Fintech company that provides a suite of tech solutions for mortgage origination and closing, has partnered with insurance company Lemonade to simplify the homeowners insurance verification process. Using Clear HOI, Nexsys users will be able to leverage a tool which digitizes the previously manual communication between mortgage lenders and homeowners insurance companies.
In the past, verifying that homeowners insurance was in force for new mortgage transactions was an inefficient undertaking, with lenders contacting insurance carriers by phone to manually confirm. 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 Technologies has also developed a new set of application programming interfaces allowing mortgage lenders to securely pull in evidence of insurance directly into their loan origination systems – ensuring that a client’s privacy is protected. Using these interfaces, the company will work with Lemonade’s AI-powered insurance platform to provide an easy integration between Lemonade and a mortgage lender’s origination system. This integration will allow Lemonade to quickly confirm a client has provided consent to share their insurance information, which in turn will maximize efficiency.
In addition to Clear HOI, Nexsys offers Clear Sign, an electronic closing (eClosing) platform that improves the speed and efficiency of mortgage closings. Clear Sign has been used to eClose more than 30,000 mortgage transactions since its launch in April 2019.
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