The start-up is working to disrupt how homeowner’s insurance is bought and sold
Radian Group has announced that it has invested in Denver-based Covered Insurance Solutions to expand its comprehensive insurance offerings.
Covered is an independent digital insurance agency whose proprietary technology allows homebuyers to compare and avail homeowner’s insurance at any time, even during the mortgage application process.
“The digitalization of our industry is well underway, and we believe that the most successful companies in the future will be the ones that most effectively leverage technology,” said Radian CEO Rick Thornberry. “That’s why we have made our own digital transformation such a priority, and that’s why we are investing in Covered, a promising fintech startup that is working to disrupt how homeowner’s insurance is bought and sold.”
Covered provides homeowner’s insurance options from 19 major national carriers during the loan process and through the homeownership lifecycle. Covered also partners with mortgage-lending, servicing, and real estate providers, and integrates its software with banking and lending platforms to speed up the closing process.
“We are very excited to partner with Radian as we embark on this new phase of our development,” Covered CEO Ross Diedrich said. “Radian’s comprehensive industry intelligence and deep relationships will be tremendous assets as we expand our reach into the mortgage ecosystem with comprehensive insurance offerings.”