Nexsys Technologies and Nationwide Partner to Digitize Communication Between Mortgage Lenders and Home Insurance Providers
DETROIT, June 30, 2021 / PRNewswire / – Nexsys Technologies, a FinTech and subsidiary of Rocket Companies (NYSE: RKT) providing a suite of essential digital solutions for mortgage origination and closing, today announced its partnership with At national scale to provide real-time assurance checks using Nexsys Clear HOI. The revolutionary tool automates communication between mortgage lenders and insurance providers, creating a streamlined and automated experience for verifying the existence of a home insurance policy.
âWith Clear HOI, we’ve been able to innovate and simplify another manual step in the home buying experience. As more and more consumers transact online, Nexsys Technologies and Rocket Companies continue to develop new technologies to digitize and simplify the entire mortgage process, âsaid Mike Lyon, executive vice president of Nexsys Technologies. “We are proud to continue to develop this technology with the addition of Nationwide, along with the increased speed and improved customer experience that comes with it.”
Before the introduction of Clear HOI, providing proof of home insurance was a tedious process that required lenders and insurers to communicate by phone to verify that insurance was in effect. This manual exchange of information often results in unnecessary delays in mortgage closings, causing headaches and potentially delaying closings. Now this important step in the transaction has been automated – allowing mortgage lenders to securely extract evidence of Nationwide insurance directly into their loan origination systems. This streamlined approach offers significant value to all parties. Since it is fully digital, there is less time spent on the phone and more opportunities for team members to focus on supporting their clients.
âBuying a home can be a stressful time,â said Angie klett, Senior Vice President of Corporate Development for Nationwide. âThis partnership with Nexsys makes the insurance verification process transparent to our clients, speeds up the home buying process and gives them more time to focus on what matters most: living in their own home. dreams. Nationwide continues to implement digital capabilities to meet customers where they are. in their daily lives, which really shows that we are a protection company that cares about our clients beyond insurance. “
State-of-the-art encryption from Nexsys Technologies enables the secure and instant exchange of insurance information. Nationwide will now take advantage of the Clear HOI integration to quickly confirm that a customer has given consent to share their information, communicating it consistently and accurately in just seconds.
Three of the top five P&C insurers have already joined the Clear HOI platform. In addition to Nationwide, participating companies include Allstate, Liberty Mutual, Farmers Insurance, and Lemonade.
Nexsys Technologies announced release of Clear HOI to lenders nationwide early december 2020. The solution can be integrated with the mortgage company‘s loan origination system using an application programming interface (API), or it can use an online portal. In addition to Clear HOI, Nexsys offers Clear sign, an electronic closing platform (eClosing) that connects consumers with notarial signing agents for an exceptional digital closing experience.
About Nexsys Technologies
Nexsys Technologies is a Detroittechnology company based on innovative technologies for smarter lending processes. The company’s digital real estate platforms give lenders and suppliers the network, tools and intelligence they need to make the best possible transactions in real time. To learn more, visit nexsystech.com.
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services companies in the United States. Nationwide is rated A + by AM Best and Standard & Poor’s. An industry leader in customer-centric innovation, Nationwide offers a full line of insurance products and financial services, including auto, commercial, home, farm and life insurance; public and private sector pensions, annuities and mutual funds; surplus and surplus, specialty and surety; animal, motorcycle and boat insurance. For more information visit www.national.com. follow us on Facebook and Twitter.
SOURCE Nexsys Technologies