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How it Works
Verify insurance information from borrowers in seconds. With Canopy Connect activated in Encompass, loan processors can verify insurance from within Encompass by ICE Mortgage Technology.
Send your Canopy Connect link to your borrower
Email the borrower a verification link from Encompass.
Borrower signs into carrier
The borrower simply selects their insurance carrier and signs in. They are done importing their insurance in less than 10 seconds.
Canopy Connect retrieves insurance data
Canopy Connect will retrieve the borrower's insurance data and documents and display them in Encompass to be verified by the loan officer.
THE PROBLEM
It Takes Weeks to Verify Insurance
Manual processes frustrate borrowers and lenders alike. Slow submissions and verifications lead to costly delays that can be eliminated with Canopy Connect.
Insurance Requirements Are Complex
In addition to Fannie Mae requirements, each lender has different requirements. Tracking these requirements can be challenging with manual processes.
Getting Proof is Time Consuming
Borrowers provide proof of insurance in a variety of document types, formats, and large attachments. This makes automated parsing challenging.
Ongoing Compliance is Challenging
Originators that also service their loans face challenges getting updated insurance documents that meet the requirements.
MORTGAGE LENDING
Watch a 2-Minute Overview
MORTGAGE LENDING
Why Lenders Choose Canopy
Loan processors need to verify that a property has the right policy in-force, with the appropriate coverages, and the correctly named mortgagee.
Instead of requesting documentation from the borrower or the insurance carrier, which can take weeks, Canopy Connect enables lenders to verify insurance policies in 30-seconds with data directly from the carrier.
Additionally, lenders can make borrower-approved changes to the policy, such as editing the mortgagee.
Because Canopy Connect can be integrated into any system, including Encompass®, your team members work in an environment they’re familiar with.
Instead of requesting documentation from the borrower or the insurance carrier, which can take weeks, Canopy Connect enables lenders to verify insurance policies in 30-seconds with data directly from the carrier.
Additionally, lenders can make borrower-approved changes to the policy, such as editing the mortgagee.
Because Canopy Connect can be integrated into any system, including Encompass®, your team members work in an environment they’re familiar with.
THE RESULTS
Canopy Connect Streamlines the Close Process
Traditional Manual Workflow
What you're doing now, doesn't scale.
Weeks to verify insurance
Manual processing requires human interactions on all applications
Difficult to verify ongoing coverage in case of cancellations or changes
Canopy Connect Workflow
Speed up, automate it, and integrate it.
Verify insurance in seconds
Enables automated processing of requirements against your lender rules
Verify ongoing coverage with structured data and documents
See How Efficient Insurance Verification Can Be
Let's explore your use case and implement an insurance verification solution, together.
THE SOLUTION
Canopy Connect is Insurance Infrastructure
We enable users to quickly and securely share their insurance information through integrations with the nation’s top carriers.
Insurance Integrations
250+ insurance carrier integrations covering more than 90% of the market.
Insurance Information Parsing
Imports and structures insurance documents, policy details, contact, information, driver data, claims history, and enriches critical information.
Multiple Connectivity Options
Access verified insurance information the way that works for you.