Porch Group, Inc. Announces Newest Pay-At-Close Module for Home Inspection Companies
December 06, 2021 at 08:01 am EST
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Porch Group, Inc. announced the addition of a new module to its suite of software solutions provided to home inspection companies through its inspection software business, Inspection Support Network (ISN). Now, Porch can provide agents and homebuyers the ability to pay for their home inspection at the close of a home purchase, in addition to Porchs ability to facilitate the payment processing at the time of inspection. Through the innovative pay-at-close program, ISN will manage the complexity of both providing payment to the inspector at time of inspection, as well as invoice the escrow company on behalf of the homebuyer to defer payment to the close of escrow. The first-of-its-kind program simultaneously addresses the needs of homebuyers, agents, and inspectors, while also continuing to expand the value proposition Porch provides through its ISN software. Inspectors often receive requests for deferred payment but very rarely accept, primarily due to the risks of escrow falling through or the hassle of collections. Only because Porch powers ISN, the leading CRM software in the inspection industry can this process be automated and streamlined, giving every party a better experience. The program is currently available to select inspection companies and will begin a broad roll-out in 2022. Thus far, feedback and appetite from inspectors and real estate agents has been overwhelmingly positive with some of the large inspection companies activating the module and ready to launch.
Porch Group, Inc. is a provider of a vertical software and insurance platform. The Company offers differentiated products and services, with homeownersâ insurance at the center of this relationship. The Company serves approximately 30,000 companies, such as home inspectors, mortgage companies, and title companies. The Company has two segments: the Vertical Software segment and the Insurance segment. The Vertical Software segment provides software and services to inspection, mortgage and title companies on a subscription and transactional basis. The segment operates several key businesses, including inspection software and services, title insurance software, mortgage software, moving services and others. The Insurance segment provides consumers with insurance and warranty products. The Insurance segment includes Homeowners of America, a wholly owned insurance carrier, Porticus Reinsurance, its Cayman Islands captive reinsurer, and Porch Warranty, among other warranty brands.