Volly Partners with Progressive Insurance® to Integrate Insurance Quoting into Digital Mortgage Process
Integration gives borrowers one-click quotes in Volly’s Lending Solutions platform
WOBURN, MASS.—5/10/22—Volly, a provider of industry-leading marketing and customer engagement strategies and cutting-edge lending technologies, is excited to announce an integration with Progressive Insurance, one of the top 15 homeowners insurance carriers in the country.
Home insurance is a requirement for nearly all single-family home purchases and mortgage refinances. If a borrower fails to provide proof of home insurance before their loan closes, it cannot be finalized and funded. This type of delay is costly to lenders and inconvenient for borrowers.
This new integration will give clients who are applying for a loan through Volly’s Lending Solutions platform access to home insurance quotes from Progressive. Progressive uses information clients have already entered from their loan application and public property records to generate a quote. Clients will have the option to make a purchase or shop Progressive’s network to compare policies and quotes from affiliated and third-party insurers.
The result is a more cohesive and efficient digital mortgage process for borrowers. Lenders benefit from a reduction in financing timeframes and closing issues.
“We are delighted to be working with a household name like Progressive,” said Volly CEO Jerry Halbrook. “The Progressive model is one we greatly admire and overlays perfectly with Volly’s Lending Solutions platform. This unique integration offers clients insurance quotes with one click, making it easier to close their loans on time and giving them much-needed peace of mind during the lending process.”
About New Capital Partners
New Capital Partners (NCP) is a private equity firm headquartered in Birmingham, Alabama. NCP partners with niche, tech-enabled services companies in the healthcare, financial, and business services industries. Leveraging its extensive operational experience, NCP helps create significant value in portfolio companies by focusing on one core goal: building great companies. For more information, please visit www.newcapitalpartners.com.