Truv Announces Insurance Verification Product to Enable Mortgage and Auto Lenders to Instantly Verify Proof of Insurance

With Truv’s new insurance verification product, mortgage lenders, auto lenders and tenant screeners will be able to reduce risk and further automate the applicant approval and onboarding process by instantly verifying policies insurance.

NEW YORK, October 12, 2022–(BUSINESS WIRE)–Today, Truv, the leading provider of income and employment verification, announced that it is expanding its product line to include insurance verification. Truv’s new product further advances its vision to help organizations unlock the power of consumer-enabled data.

Mortgage and auto lenders waste valuable time and resources collecting, recording and verifying insurance policy information. Historically, this verification process is done when customers manually upload documents for a lender employee to manually review on the back-end. This creates a slow process full of friction while increasing the risk of fraudulent documents.

With Truv’s new insurance verification product, mortgage and auto lenders can instantly verify 90% of US insurance policyholders in less than sixty seconds. Lenders can now integrate the Truv Connect Bridge into their loan onboarding flow where applicants will be able to connect directly to their insurance provider. Once the connection is successfully established, mortgage and auto lenders receive over 100 different data fields from the insurance provider, including current coverages, deductibles and premiums.

Truv adds this new insurance verification product to its already robust income and employment verification product to continue its mission of unlocking data silos for lenders to underwrite with confidence. Truv’s income and employment verification product currently covers over 85% of the US workforce with over 12,800 unique integrations.

“With the addition of Insurance Verification to Truv’s product suite, we are able to further automate the mortgage and auto loan approval process while reducing risk for these lenders,” said the co-founder. and CEO of Truv, Kirill Klokov. “We look forward to partnering with mortgage and auto lenders to help them approve more loans faster through the combination of income, employment and insurance verification.”

For more information, visit Truv.com/Insurance-Verification.

About Truv

True (truv.com), formerly known as the Citadel API, unleashes the power of consumer-authorized data to enable organizations to make decisions with confidence. Truv provides the most secure and reliable API connections to payroll accounts to enable verification of income, employment and insurance for lenders, while consumers benefit from faster approvals and a better experience. global. Truv’s consumer-authorized instant verification covers more than 145 million people and 85% of the US workforce.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20221012005805/en/

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