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LendingTree Partners With Coverdash to Launch Insurance Offering
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Lending Tree, Inc. (TREE - Free Report) partnered with Coverdash, the fastest-growing startup and small to medium-sized businesses (“SMB”) focused on insurtech broker. This partnership should enable Lending Tree to offer business insurance to its clients for the first time. This collaborative partnership broadens Lending Tree's range of financial products for SMBs, giving it a more effective and convenient way to meet the financial needs and obtain business insurance.
With this collaboration, LendingTree has taken a significant step forward in its development by offering small businesses comprehensive insurance solutions in addition to loans and financial products.
More on TREE’s Partnership With Coverdash
Coverdash’s fully embedded insurance offering provides business insurance to LendingTree customers without having to leave the platform.
This integration makes it easier for business owners to obtain business insurance and eliminates conventional obstacles, helping them with risk management and operational protection. Through Coverdash's embedded technology, SMBs can obtain immediate quotations from the most reputable carriers in the country, evaluate those and buy policies that best suit their needs.
By incorporating Coverdash's business insurance service, LendingTree can not only improve its own platform but also enable small businesses to lower risk profile, enhancing chances of obtaining a loan and promoting long-term growth.
Management Remarks
“LendingTree’s legacy in financial services is unmatched, and we’re incredibly proud to have our embedded experience power their expansion into business insurance,” said Ralph Betesh, co-founder and CEO of Coverdash. “Meeting financial requirements while starting a business is complex–our partnership lets business owners easily access trusted resources in one place at every stage of their company’s life cycle.” Betesh further stated.
“We’ve always played an integral role in helping small businesses get off the ground with our loans and financing programs, so offering business insurance was the natural next step,” said Jenn Ash, general manager, Small Business & Student Loans at LendingTree. “This partnership with Coverdash deepens our commitment to supporting our customers' growth, reinforcing our position as their trusted, long-term partner for all of their financial services needs." he added.
Lending Tree’s Zacks Rank & Price Performance
Year to date, shares of TREE have risen 41.8% against the industry’s 17.2% decline.
Strategic Collaborations Pursued by Other Finance Firms
Earlier, this month, State Street Corp.’s (STT - Free Report) asset management arm, State Street Global Advisors has joined forces with Bridgewater Associates LP, to boost its core alternative investment strategies. The partnership aligns with State Street’s growth strategy to strengthen its fee income.
Similarly, AllianceBernstein L.P. (AB - Free Report) entered into a partnership with Reinsurance Group of America, Incorporated (RGA) to expand its insurance business.
AB has been selected as one of the leading investors in Ruby Reinsurance Company, a reinsurance sidecar vehicle sponsored by RGA. It focuses on the U.S. asset-intensive market. AB plans to manage private alternative assets for RGA’s general account through this transaction.
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LendingTree Partners With Coverdash to Launch Insurance Offering
Lending Tree, Inc. (TREE - Free Report) partnered with Coverdash, the fastest-growing startup and small to medium-sized businesses (“SMB”) focused on insurtech broker. This partnership should enable Lending Tree to offer business insurance to its clients for the first time. This collaborative partnership broadens Lending Tree's range of financial products for SMBs, giving it a more effective and convenient way to meet the financial needs and obtain business insurance.
With this collaboration, LendingTree has taken a significant step forward in its development by offering small businesses comprehensive insurance solutions in addition to loans and financial products.
More on TREE’s Partnership With Coverdash
Coverdash’s fully embedded insurance offering provides business insurance to LendingTree customers without having to leave the platform.
This integration makes it easier for business owners to obtain business insurance and eliminates conventional obstacles, helping them with risk management and operational protection. Through Coverdash's embedded technology, SMBs can obtain immediate quotations from the most reputable carriers in the country, evaluate those and buy policies that best suit their needs.
By incorporating Coverdash's business insurance service, LendingTree can not only improve its own platform but also enable small businesses to lower risk profile, enhancing chances of obtaining a loan and promoting long-term growth.
Management Remarks
“LendingTree’s legacy in financial services is unmatched, and we’re incredibly proud to have our embedded experience power their expansion into business insurance,” said Ralph Betesh, co-founder and CEO of Coverdash. “Meeting financial requirements while starting a business is complex–our partnership lets business owners easily access trusted resources in one place at every stage of their company’s life cycle.” Betesh further stated.
“We’ve always played an integral role in helping small businesses get off the ground with our loans and financing programs, so offering business insurance was the natural next step,” said Jenn Ash, general manager, Small Business & Student Loans at LendingTree. “This partnership with Coverdash deepens our commitment to supporting our customers' growth, reinforcing our position as their trusted, long-term partner for all of their financial services needs." he added.
Lending Tree’s Zacks Rank & Price Performance
Year to date, shares of TREE have risen 41.8% against the industry’s 17.2% decline.
Currently, TREE carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Strategic Collaborations Pursued by Other Finance Firms
Earlier, this month, State Street Corp.’s (STT - Free Report) asset management arm, State Street Global Advisors has joined forces with Bridgewater Associates LP, to boost its core alternative investment strategies. The partnership aligns with State Street’s growth strategy to strengthen its fee income.
Similarly, AllianceBernstein L.P. (AB - Free Report) entered into a partnership with Reinsurance Group of America, Incorporated (RGA) to expand its insurance business.
AB has been selected as one of the leading investors in Ruby Reinsurance Company, a reinsurance sidecar vehicle sponsored by RGA. It focuses on the U.S. asset-intensive market. AB plans to manage private alternative assets for RGA’s general account through this transaction.