AmeriSave Mortgage embraces the insurance business
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Hippo contributed its proprietary technology to the partnership. It fuels the AmeriSave Insurance Agency operations and is designed to streamline the insurance buying process, in part by cutting out antiquated steps. Homeowners can complete their insurance buying transaction in as little as four minutes, the companies said in their announcement.
Hippo already works with more than a dozen mortgage players reaching over 7 million customers in the US, Harpaz added.
Long-term idea
AmeriSave isn’t the only mortgage lender with a digital insurance agency. Rocket Mortgage, Mr. Cooper and Better.com are among those who have pursued a similar strategy.
Reynolds said the idea is a smart way toward building more mortgage industry business, even in a down market.
“It’s really there for the long-term,” Reynolds explained. “It’s helping clients not only when they’re getting a mortgage … but when people are paying their premiums, their mortgage payments, etc. on a monthly basis. We can go in and offer insurance for them just to look at and say, ‘Do I have a better opportunity out there?’”
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