LendingTree has partnered with insurtech Coverdash to combine small enterprise insurance coverage into its platform.
Including insurance coverage options enhances LendingTree’s current SMB mortgage merchandise by serving to insured companies qualify for extra financing attributable to their decrease danger profile.
The partnership additionally strengthens LendingTree’s place as a one-stop store for SMB monetary wants, whereas serving to Coverdash broaden its attain by a trusted, established model.
On-line mortgage market LendingTree has partnered with SMB-focused insurtech dealer Coverdash to supply LendingTree’s enterprise purchasers small enterprise insurance coverage. The flexibility so as to add Coverdash’s insurance coverage choices can be embedded into LendingTree’s platform.
This partnership strengthens LendingTree’s reference to small enterprise homeowners by broadening its SMB choices past loans to incorporate insurance coverage options. LendingTree anticipates that this product growth will complement its current SMB mortgage merchandise, as insured companies usually current a decrease danger profile, enabling them to qualify for extra financing. For Coverdash, at present’s partnership with a trusted, established model like LendingTree will broaden its attain and cement its function as a small enterprise insurance coverage supplier.
“We’ve at all times performed an integral function in serving to small companies get off the bottom with our loans and financing packages, so providing enterprise insurance coverage was the pure subsequent step,” mentioned LendingTree Normal Supervisor, Small Enterprise & Pupil Loans, Jenn Ash. “This partnership with Coverdash deepens our dedication to supporting our clients’ progress, reinforcing our place as their trusted, long-term accomplice for all of their monetary providers wants.”
North Carolina-based LendingTree maintains a market of over 600 monetary companions that provide a variety of private loans, mortgages, auto loans, and bank cards, and extra. By enabling customers to match aggressive charges and phrases, LendingTree empowers people to make knowledgeable monetary selections. Because it was based in 1998, the corporate has served over 120 million clients.
“LendingTree’s legacy in monetary providers is unmatched, and we’re extremely proud to have our embedded expertise energy their growth into enterprise insurance coverage,” mentioned Coverdash Co-founder and CEO Ralph Betesh. “Assembly monetary necessities whereas beginning a enterprise is advanced – our partnership lets enterprise homeowners simply entry trusted assets in a single place at each stage of their firm’s life cycle.”
Based in 2022, Coverdash is a newcomer to the insurtech house, which is usually dominated by extra established corporations. Based mostly in New York, Coverdash is licensed in all 50 U.S. states to supply insurance coverage options tailor-made to small companies, together with freelancers, e-commerce operations, and startups. Its choices span normal legal responsibility, employees’ compensation, cyber insurance coverage, and extra. Earlier this 12 months, the corporate secured $13.5 million in Collection A funding, bringing its complete funding to $16 million, in line with Crunchbase.
Picture by Ivan Samkov
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