LenderDock Inc. Signs New Partnership with Palomar Holdings Inc.
SALT LAKE CITY, UTAH – June 20, 2022 – LenderDock Inc. and Palomar Insurance (Palomar) have announced a new partnership that strategically supports the goal of having a comprehensive lienholder process automation solution by fully digitizing lienholder verifications, mortgagee correction requests, and escrow payments.
As the company continues to expand, finding a solution that reduces operational costs related to mortgagee communication has been an ongoing effort for Palomar. Having a single provider that addresses the variety of tasks and requests from banks and lenders was pivotal in their decision. Recently, more and more time has been spent manually processing proof of insurance verifications, mass mortgagee change requests, and escrow billing errors. These tasks are impediments to the company’s growth.
In addition to utilizing LenderDock’s Verifi™ and Correxion™ base platform, Palomar looks to implement LenderDock’s Notifi™ and LenderPymts™ services which will facilitate the electronic delivery of loss payee, billing notifications, and digital escrow payment reconciliations.
Palomar is a rapidly growing and innovative insurer that provides specialty insurance to residential and commercial customers in underserved markets. Focusing on earthquake, hurricane, and flood insurance, they leverage proprietary data analytics and a modern approach to deliver unparalleled products and services.
“Palomar is an insurer partner that sees the value of new technology and the impact that it makes when tackling outdated workflows and business processes. We are excited about the opportunity to support their continued growth and expansion.” – Frank Eubank, LenderDock CEO
Headquartered in Salt Lake City, Utah, LenderDock Inc. is the leading provider of online Property and Casualty Insurance policy verification and automated lien holder process management services. The policy verification-as-a-service (VaaS) platform offers banks, lenders and all financial third parties the ability to digitally verify and correct home and auto policy-related data in real-time.