Nationwide partners with Nexsys Technologies
Companies working together to simplify Homeowner Insurance Verification Process
Anyone who has ever bought a home understands how stressful and frustrating the experience can be. A new partnership between Nationwide and Nexsys Technologies is looking to take some of the pain out of process.
Nationwide will now utilize Nexsys’ Clear HOI technology to deliver real-time insurance verifications. The groundbreaking Clear HOI tool automates the communication between mortgage lenders and insurance providers, creating a streamlined and secure mortgage experience.
“This partnership with Nexsys makes the insurance verification process seamless for our customers making the homebuying process faster and giving our customers more time to focus on what matters most – living in their dream home,” said Angie Klett, Nationwide’s senior vice president of Corporate Development. “Nationwide continues to implement digital capabilities to meet customers where they are in their daily lives which truly demonstrates that we are a protection company that cares about our customers beyond insurance.”
In the past, providing proof of homeowners insurance was a cumbersome process that often required lenders and insurance providers to communicate by phone to verify that insurance was in force. This manual exchange of information could lead to unnecessary delays in mortgage closings. Now, this important step in the mortgage transaction has been automated – allowing mortgage lenders to securely pull in evidence of insurance directly into their loan origination systems.
Nexsys Technologies’ industry-leading encryption allows for the secure and instantaneous exchange of insurance information. Nationwide will now be able to leverage the Clear HOI integration to quickly confirm a client has provided consent to share their insurance information, communicating policy information consistently and accurately in seconds.
“With the launch of Clear HOI, we have been able to innovate and simplify another manual step in the homebuying experience. As more consumers complete transactions online, Nexsys Technologies and Rocket Companies continue introducing new technology to digitize and simplify the mortgage process,” said Mike Lyon, Executive Vice President of Nexsys Technologies. “We are proud to provide this technology to Nationwide, along with the increased speed and enhanced client experience that comes along with it.”
This partnership is Nationwide’s latest in a series of efforts to streamline the customer experience. For instance, Nationwide’s third party policy inquiry site enables mortgage holding companies, title companies, lien holders, leaseholders, car dealerships, and rental car companies to verify auto, home, condo, and dwelling fire policies, as well as update the lienholders or mortgage clause on the policy.