Blend has entered into a strategic partnership with Covered Insurance Solutions to improve the home insurance shopping experience for mortgage customers by providing expanded options and a streamlined process.
The partnership is focused on simplifying the insurance selection process for homebuyers, providing them with greater choice, convenience, and value in home insurance options directly within Blend’s mortgage application workflow.
By joining forces, both companies aim to equip lenders with an enhanced range of carriers and improved customer engagement tools, adding value for both lenders and their borrowers.
Blend is a digital banking platform focused on modernising the lending journey for financial institutions.
It provides an origination platform that facilitates digital banking experiences, especially for mortgage applications, enabling faster loan processing and enhanced service for lenders. Covered Insurance Solutions, meanwhile, specialises in embedded insurance, offering borrowers streamlined access to insurance quotes from national and regional carriers.
The company aims to make the insurance selection process convenient and accessible, helping borrowers easily compare options within the financial transactions they are already undertaking.
As part of the agreement, Covered will integrate its insurance marketplace directly into Blend’s platform, expanding access for Blend’s mortgage customers to a wider array of top-rated carriers across all 50 states.
This move strengthens Blend’s end-to-end mortgage service by adding insurance options into the digital mortgage workflow, enhancing customer choice while accelerating the process.
In addition, Covered will now take on Blend’s insurance agency operations, transitioning Blend’s insurance services to a collaborative model that leverages Covered’s compliance, data security, and infrastructure capabilities. Covered’s presence within the Blend ecosystem will allow it to expand its reach across the U.S. mortgage market, while maintaining continuity and service quality for lenders.
“This partnership is a major step forward in providing borrowers with more options and convenience when shopping for home insurance quotes,” said Nima Ghamsari, co-founder and CEO of Blend. “By integrating Covered’s leading marketplace directly into our mortgage platform, we’re empowering borrowers with more choices and better value, while helping lenders accelerate the loan process. We look forward to a strong, long-term strategic partnership with the Covered team.”
Ross Diedrich, CEO of Covered, added, “Together with Blend, we’re elevating the home lending experience, making it more efficient and customer-centric. Partnering with Blend means we can bring enhanced carrier markets and more value to better serve Blend’s lender clients and their borrowers. Furthermore, Covered’s best-in-class mortgage servicing partnership programs will allow Blend’s lender clients to extend value beyond origination through the entire mortgage lifecycle. We’re excited to add value to Blend, their lender clients, and borrowers across the country, all while accelerating our market share in the mortgage industry.”
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