Powering customer-obsessed companies, fintechs, insurtechs, marketplaces, lenders, insurance carriers and more.
LOAN SERVICING
Why Loan Servicers Choose Canopy
Loan servicers need to regularly verify that collateral 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 loan servicers to verify insurance policies in 30-seconds with data directly from the carrier.
Additionally, servicers can make borrower-approved changes to the policy, such as editing the mortgagee.
Because Canopy Connect can be integrated into any system, your team members work in an environment they're familiar with and not switch between applications and spend unnecessary time on calls.
Instead of requesting documentation from the borrower or the insurance carrier, which can take weeks, Canopy Connect enables loan servicers to verify insurance policies in 30-seconds with data directly from the carrier.
Additionally, servicers can make borrower-approved changes to the policy, such as editing the mortgagee.
Because Canopy Connect can be integrated into any system, your team members work in an environment they're familiar with and not switch between applications and spend unnecessary time on calls.
THE PROBLEM
Verifying Insurance is Hard
Maintaining proof of insurance coverage is a manual process. It frustrates borrowers, insurance agents and lenders because it's a highly manual process.
Getting Proof is Time Consuming
Borrowers provide proof of insurance in numerous document types, formats and attachments. It can take days to receive documents from borrowers and insurance agents.
Verifying Rulesets is a Manual Process
OCR technologies struggle with parsing and structuring data because of the variety of document types. Companies are forced to turn to human verification as a result.
Ongoing Compliance is Challenging
Even if a borrower submits their documents in a timely manner and they successfully pass initial checks, there is no guarantee that the borrower maintains their insurance coverage.
THE RESULTS
Canopy Connect Reduces Compliance Costs
Traditional Manual Workflow
What you're doing now, doesn't scale.
Up to 30 days 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, automated 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
200+ insurance carrier integrations covering more than 90% of the homeowners insurance 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.
INSURANCE DATA
Broad & Deep Market Coverage
With access to more than 200 of the top insurance carriers in personal and commercial P&C. Canopy Connect has the market covered.
96%
Personal Auto Insurance Market Coverage
91%
Homeowners Insurance Market Coverage
57%
Commercial Insurance Market Coverage
5.6
Seconds to Transfer Policy Data from the Insurance Carrier
INSURANCE DATA
250+ Insurance Data Fields in Seconds
Canopy Connect's API enables you to receive fully-structured P&L personal and commercial insurance data directly from the insurance carriers in seconds.
Supercharge Your Insurance Verification
Stop manual insurance verifications and start building it into your process.
PROTECTION
Trusted and Secure
Canopy Connect is building the infrastructure that powers best-in-class insurance experiences. Deliver delightful, intelligent and frictionless insurance services, trusted by leading insurance innovators.
Rigorous Security Standards
We are SOC II Type 2 Certified, following strict information security policies and procedures.
Compliance Monitoring
Our infrastructure is continuously monitored for security and compliance.
End-to-end Encryption
We keep your data encrypted every step of the way. We use 256-bit AES encryption at rest and TLS 1.3+ in transit.