Coverdash, a fast-growing InsurTech broker that specialises in startups and small-to-medium-sized businesses (SMBs), is set to introduce business insurance offerings directly to LendingTree customers.
The move, which comes as part of a new partnership, aims to simplify access to business insurance by embedding it into LendingTree’s platform.
The integration helps SMBs lower their risk profiles, a crucial factor in securing loans. Research by the Federal Reserve Bank highlights that businesses with insurance are 25% more likely to obtain loan approvals compared to uninsured counterparts.
Coverdash leverages advanced technology to offer instant quotes and tailored insurance policies from top carriers. Its offerings include General Liability, Workers’ Compensation, Business Owners Policy, Cyber Insurance, and more. The company is dedicated to making insurance accessible and straightforward for SMBs at every stage of their growth.
LendingTree is a premier financial marketplace in the US, connecting customers to loans, credit cards, mortgages, and other financial products.
The platform has now expanded its portfolio to include business insurance, further solidifying its position as a one-stop shop for financial solutions.
The integration of Coverdash’s embedded insurance solutions into LendingTree’s platform provides business owners with a seamless way to compare and purchase insurance policies suited to their needs.
This move enhances LendingTree’s service offerings, diversifies its revenue streams, and strengthens customer engagement while reducing customer acquisition costs.
Jenn Ash, General Manager of Small Business & Student Loans at LendingTree, said, “We’ve always played an integral role in helping small businesses get off the ground with our loans and financing programs, so offering business insurance was the natural next step. This partnership with Coverdash deepens our commitment to supporting our customers’ growth, reinforcing our position as their trusted, long-term partner for all of their financial services needs.”
Ralph Betesh, co-Founder and CEO of Coverdash, added, “LendingTree’s legacy in financial services is unmatched, and we’re incredibly proud to have our embedded experience power their expansion into business insurance. Meeting financial requirements while starting a business is complex. Our partnership lets business owners easily access trusted resources in one place at every stage of their company’s life cycle.”
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