We’re happy to prove the age-old expression “good things come in threes” as we receive HousingWire’s HW Tech100 Award for our Nexsys Clear HOI℠ platform, marking the third consecutive year that we’ve earned this award. Verifying homeowners insurance (HOI) can be a complicated and time-consuming part of the mortgage transaction process for lenders and insurers. We set out with the goal of simplifying this process, and ended up developing an innovative, automated new platform for the real estate industry.
“Since the launch of Clear HOI in June 2019, the response has been overwhelmingly positive,” said Nexsys Executive Vice President Mike Lyon. “With a 400% increase in transactions from January to November this past year, we set our focus on our goals for 2021. Currently, more than a fifth of America’s homeowners insurance market utilizes Clear HOI for HOI verification, and we expect to see a significant growth in that number by the end of this year.”
How Clear HOI Serves Lenders and Insurers
We’re a FinTech company focused on creating and delivering innovative solutions for smarter lending processes. When we began, our focus was on simplifying the digital signing process, but we found an opportunity for improvement in the realm of homeowners insurance verification.
Prior to developing our groundbreaking tech, the process of verifying HOI resulted in days, and sometimes even weeks, added to home purchase and refinance transactions. With a streamlined collection of application programming interfaces (APIs), Clear HOI automatically pulls in verification information. By removing the manual input element, we’ve provided our clients with an easier, more secure process that produces nearly instantaneous verification. As a result, over 80% of loans handled by Nexsys’ Clear HOI integration are now automated, freeing lenders, insurers and clients of this previously time-intensive process.
We’re honored to receive this recognition from HousingWire for the third year in a row and are excited for what the future holds.
Interested in learning more about Nexsys Clear HOI?
Lenders and insurers: Get in touch with us to learn how our Clear HOI platform could benefit you with an easier, more efficient homeowners insurance verification process. Contact us today to get started!