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New solution to make verifying homeowners insurance seamless

Nationwide’s Insurance Verification Digital Product helps to reduce how often members are contacted to verify their insurance coverage

Verifying homeowners insurance throughout the mortgage lending process will now be a fast and seamless process thanks to the modern, digital solution created by Nationwide and Assurant.  

The integration of Nationwide’s Insurance Verification Digital Product into Assurant’s patent pending HOIVerifySM solution will enable the two companies to verify insurance coverage and limits efficiently. Homeowners with Nationwide insurance policies will now have their policy details confirmed securely, conveniently and automatically.  

“Nationwide developed our Insurance Verification technology to drive ease and simplicity for customers and partners - it’s a great fit within Assurant’s insurance tracking ecosystem,” said Angie Klett, Nationwide’s senior vice president of Corporate Development. “Instead of a phone call or email, a customer’s insurance policy is verified within seconds. It’s powerful when you put customers at the center of what you do. You end up solving pain points that make a noticeable difference in their customer journey.”  

Nationwide’s Insurance Verification Digital Product, developed in 2021, is a collection of APIs that allow a verified user to first confirm whether a customer holds a Nationwide homeowners, condo, or renters policy, then enables insurance details to be verified instantly. Digitizing insurance verification during the mortgage loan or renewal process reduces the need for traditionally manual processes and significantly improves the speed of verification. Additionally, it enables property managers to make sure their tenants are adequately protected. 

This integration with Assurant’s HOIVerifySM will not only speed up the process of tracking homeowners insurance, but also extends more sustainable processes. Assurant estimates that HOIVerifySM’s transformative technology can eliminate 27 million sheets of paper, and save 2,250 trees, 70 million gallons of water and 459 million watts of energy annually, based on 2021 figures. 

“HOIVerifySM is a digital solution that will allow for Assurant to further modernize the complex homeowners insurance process,” said Dave Madigan, president, Lender-Placed Insurance at Assurant. “This innovative, API-based solution will allow for real-time status updates between Assurant and our partners, creating a seamless experience for everyone.” 

More information about Nationwide’s robust API library, including the Insurance Verification Digital Product, can be found on the Nationwide Partner Platform at developer.nationwide.com. Information about Assurant’s solutions including HOIVerifySM can be found at assurant.com/hoiverify.