Fintech disruptors Uinsure and Mojo partner to cover mortgage insurance gap

22 August 2019

Uinsure, the multi-award winning InsurTech firm, has announced an innovative partnership with FinTech startup Mojo Mortgages.

This will allow Mojo Mortgages customers to seamlessly and automatically see a general insurance (GI) quote via Uinsure’s API as they apply for a mortgage.

Despite nearly all lenders making buildings insurance a prerequisite for a successful mortgage application, traditionally brokers have treated it as an ancillary product. Less than a quarter of applicants get a home insurance quote from their broker and then, in many cases, the customer is forced to begin an additional process of form filling on a comparison site to get the cover they need.

Now, when the customer applies for a mortgage on the Mojo website, they can be shown personalised quotes from Uinsure’s 5-star rated Defaqto and Money Facts panel of lenders. The process becomes instant and addresses a gap in the existing mortgage-insurance provision at the point it is most needed. No longer will customers need to sort insurance hours before their mortgage completes and risk rushing into policy mistakes.

Mojo Mortgages was the obvious partner for this pioneering change. Crowned Best Mortgage Broker at this year’s British Bank Awards, Mojo already uses its mortgage matcher technology to show personalised mortgage quotes from 90 lenders to customers in real time before offering free advice on the best option and handling the entire application on the customer’s behalf.

The partnership with Uinsure will see two fast-growing Manchester Fintech firms collaborate under the common belief that the mortgage and GI quote process should produce the best experience possible for the customer.

This ground-breaking partnership follows a series of exciting developments for Uinsure, who recently announced LV= Broker had joined their panel of insurers, and entered a single-tie partnership with Twenty7Tec, the intermediary-focused technology provider, revolutionising the GI quotation process.

David Smith, Chief Innovation Officer at Uinsure, commented: “Mojo Mortgages are creating huge waves within our industry and we are delighted to announce our exclusive partnership with them. The mortgage process has historically been outdated and unnecessarily complex. Mojo are seeking to make this process as easy as possible, a deep belief that we too share here at Uinsure. With our Zero Questions platform, GI quotes can be returned instantly, based on three key pieces of information: name, date of birth and address.

“This is an incredibly exciting time to be partnering with Mojo, who are continuously disrupting our industry with their innovations, and we look forward to launching our system and a successful partnership.”

Richard Hayes, Chief Executive Officer at Mojo Mortgages, added: “We’re on a mission to deliver the UK’s best mortgage experience and make mortgage easier.

“The mortgage market’s lacked innovation for too long. Mojo is putting that right. This partnership with Uinsure aligns the mortgage and insurance quote process at the perfect moment for the customer.”