Life insurance agency Haven Life has entered a strategic collaboration with cloud banking service provider Blend Insurance Agency to offer life insurance during the home purchasing process.
Under the partnership, the parties intend to make the life insurance application process a seamless experience for homebuyers in the US.
Citing a US Census Bureau release, Haven Life noted that most people in the country buy homes on a mortgage while approximately 23% of people possess complete ownership of their homes.
The end-to-end digital mortgage software of Blend is linked to key lenders in the country, enabling reduced processing times and optimised lending processes’ efficiency.
This collaboration with Blend will aid Haven Life in providing life insurance coverage to people at the time of house purchase itself.
Haven Life partnership distribution head Wade Seward said: “Buying a home is one of the most significant milestones and biggest investments in a person’s life.
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“Partnering with Blend gives us the ability to enable new homeowners to seamlessly secure financial protection for their loved ones as part of a streamlined and efficient purchasing process.”
Blend Insurance Agency group manager Joe Perry said: “Haven Life’s commitment to innovation and customer-centric solutions aligns with our mission to simplify and improve the homeownership journey from application to close.
“Together, we can give homeowners peace of mind, knowing their investment is safeguarded.”