Acquisition adds personal lines insurance to Credible’s student loans, personal loans and mortgage marketplace
Credible, the digital lending marketplace, is pleased to announce the acquisition of Young Alfred, a digital insurance marketplace. Credible provides consumers with personalized and prequalified rate options when shopping for student loans, personal loans, and mortgages. This acquisition will now give Credible users the same experience when choosing their property and casualty insurance coverage.
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“By integrating Young Alfred’s technology and marketplace onto Credible’s platform, and leveraging the expertise of the team, we are now able to provide consumers with a one-stop-shop for their lending and insurance needs.”
“We are pleased to welcome the Young Alfred team to Credible,” said Stephen Dash, Founder & CEO of Credible. “By integrating Young Alfred’s technology and marketplace onto Credible’s platform, and leveraging the expertise of the team, we are now able to provide consumers with a one-stop-shop for their lending and insurance needs.”
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Young Alfred’s proprietary technology analyzes thousands of underwriting requirements spanning over 40 carriers in all 50 states to match consumers with products that suit their unique insurance needs. Like Credible, the platform provides an end-to-end digital experience so that customers can purchase, or renew, their insurance policies online without having to talk to an insurance agent. Young Alfred’s insurance offerings include home, auto, renters, pet, rental home, flood, condo, and mobile home. Young Alfred has insured more than $6 billion in property since 2016.
“We are leading the market in providing personalized recommendations to consumers across a broad range of products,” Dash said. “Now with 90 lending and insurance partners, Credible’s platform is one of the most comprehensive and sophisticated in the market. Because we have deeply integrated with our partners’ underwriting models and origination processes, we are able to provide transparent, automated recommendations to our users. We very much look forward to adding insurance products to this experience.”
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