According to Ryan Haggard, vice president and head of insurance products and technology at the company, insurance broker Guaranteed Rate Insurance has launched a digital insurance marketplace built on AWS infrastructure that can integrate APIs into its architecture.
“API integration allows us to get operator quotes directly from customer data or through built-in partner integrations, as well as general insurance and coverage assumptions,” Haggard wrote in response to questions.
The marketplace distributes home, automotive, life and other coverages from over 50 carriers. It is built into the home finance application process of Guaranteed Rate’s parent company, a retail mortgage lender.
“This platform is another example of how guaranteed rate insurance is driving innovation in fintech,” Jeff Wingate, head of insurance and executive vice president of guaranteed rate, said in a statement. “Our goal is to create a flawless and easy-to-use digital experience that meets our customers’ rapidly changing lifestyles.”
According to the company, Guaranteed Rate Insurance plans to expand the market by adding carriers and products.
“We are lucky to start this initiative with a clean slate,” added Haggard.