Truv, an income and employment verification provider, announced it expanded its product suite to include insurance verification. Truv’s new product provides further progress on their vision to help organizations unlock the power of consumer-permissioned data.
With Truv’s new insurance verification product, mortgage lenders can instantly verify 90% of U.S. insurance policy holders in less than 60 seconds. Lenders can now embed the Truv Connect Bridge into their loan onboarding flow where applicants will be able to login directly to an insurance provider. After a connection is successfully established, mortgage lenders receive over 100 different data fields from the insurance provider including current coverages, deductibles, and premiums.
Truv adds this new insurance verification product to its already robust income and employment verification product to continue their mission of unlocking data silos for lenders to underwrite with confidence. Truv’s income and employment verification product currently covers over 85% of the U.S. workforce with over 12,800 unique integrations.
“With the addition of insurance verification to Truv’s product suite, we are able to further automate the mortgage … loan approval process while reducing risk for these lenders,” said Truv’s Co-Founder & CEO Kirill Klokov. “We’re looking forward to partnering with mortgage … lenders to help them approve more loans faster through the combination of income, employment, and insurance verification.”
