Radian invests in Covered
Radian Group, announced that it has made a strategic investment in Covered , an independent digital insurance agency whose technology enables homebuyers to compare and purchase homeowners insurance at any time, including during the mortgage application process. Terms of the investment were not disclosed.
Covered provides homebuyers with fast, free and unbiased homeowners insurance options from 19 major national carriers during the loan origination process and through the homeownership life cycle, partnering with mortgage lending, servicing and real estate providers. Its end-to-end software seamlessly integrates with banking and lending platforms, accelerating the closing process and providing partners with a value-add customer experience that improves borrower retention and engagement.
“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. 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 homeowners insurance is bought and sold.” – Radian Chief Executive Officer Rick Thornberry.
Covered is based in Denver, Colorado and was founded by Chief Executive Officer Ross Diedrich and Chief Administrative Officer Chris Diedrich. It is a licensed insurance agency in 48 states.