Coverdash, an insurtech broker focused on startups and SMBs, is partnering with LendingTree, the online financial marketplace, to provide LendingTree customers with access to business insurance.
Through the collaboration, LendingTree will offer a fully embedded insurance offering from Coverdash to its customers, without them ever having to leave its platform. The move will support small to medium-sized businesses with a streamlined way to obtain business insurance and fulfil financial requirements.
A study by the Federal Reserve Bank found that businesses that demonstrated lower risk profiles (including those carrying insurance) were 25 per cent more likely to secure approval for loans compared to higher-risk businesses.
By integrating Coverdash’s business insurance offering, LendingTree aims to empower small businesses to reduce their risk profile, increasing their chances of securing a loan and supporting their long-term growth.
“LendingTree’s legacy in financial services is unmatched, and we’re incredibly proud to have our embedded experience power their expansion into business insurance,” said Ralph Betesh, co-founder and CEO of Coverdash. “Meeting financial requirements while starting a business is complex – our partnership lets business owners easily access trusted resources in one place at every stage of their company’s life cycle.”
The integration removes traditional barriers to acquiring business insurance and simplifies the process for business owners, helping them manage risk, as well as protect their operations.
Backing small businesses
Coverdash’s embedded technology enables SMBs to access instant quotes from the nation’s most recognised carriers, ensuring they can compare and purchase policies that meet their specific needs.
“We’ve always played an integral role in helping small businesses get off the ground with our loans and financing programs, so offering business insurance was the natural next step,” Jenn Ash, general manager of small business and student loans at LendingTree. “This partnership with Coverdash deepens our commitment to supporting our customers’ growth, reinforcing our position as their trusted, long-term partner for all of their financial services needs.”
Coverdash empowers partners like LendingTree to increase customer engagement, boost revenue, and reduce customer acquisition costs by offering business insurance as an additional product.
Together, they are not only providing an innovative and frictionless experience for securing essential coverage but also empowering small business owners to focus on what they do best – growing their businesses with confidence.
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