Matic Insurance, a US-based digital insurance broker specialising in embedded insurance solutions, has announced a strategic partnership with Floify, a mortgage automation platform and a subsidiary of Porch Group, which offers digital tools to streamline the home loan process.
The partnership aims to integrate Matic’s home insurance marketplace directly into Floify’s mortgage origination platform, offering a more streamlined and user-friendly experience for borrowers during the home loan application process, according to InsurTech Insights.
Founded to simplify the process of buying insurance, Matic works with a broad network of carriers to deliver tailored, bindable insurance quotes.
By embedding its technology into mortgage platforms, it aims to reduce friction in the homebuying journey. Floify, on the other hand, provides a digital solution that automates key steps in mortgage processing, enabling lenders and brokers to manage borrower documentation and workflows efficiently.
By embedding Matic’s insurance offering within Floify’s user interface, mortgage lenders and brokers will be able to present borrowers with real-time, comparative home insurance quotes within their existing digital mortgage experience. This eliminates the need to leave the platform to shop for insurance, reducing delays and improving borrower satisfaction.
The integration reflects a broader industry trend towards embedding insurance into financial processes to make them more seamless and customer-focused. This collaboration is designed to reduce a long-standing friction point in the mortgage process, where obtaining homeowners’ insurance has traditionally been a time-consuming and disconnected step.
“Insurance has historically been a friction point in the mortgage process,” Floify head of customer experience and business operations Sol Klein said, “With Matic’s digital platform, we’re giving lenders and brokers a turnkey solution to reduce that friction and provide a better borrower experience. Matic’s breadth of carriers and expertise in the mortgage space made them the clear choice for us.”
Matic CEO and co-founder Ben Madick said, “As housing affordability remains a top concern and insurance premiums continue to rise, mortgage companies are looking for better ways to support their borrowers. With our large network of carriers and deep integration in the mortgage process, Matic helps alleviate some of those challenges — and with partners like Floify, we’re bringing that experience into the platforms lenders already rely on.”
The collaboration is the latest in a wave of technology integrations in the mortgage and InsurTech sectors, where firms are focusing on borrower-centric innovations that enhance transparency, speed, and convenience.
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