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Open Lending Signs Agreement with Arch Specialty Insurance Company
Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), a leading provider of lending enablement and risk analytics solutions to financial institutions, today announced that the Company has signed a Program Management Agreement with Arch Specialty Insurance Company, a member company within Arch Insurance North America (“Arch Insurance”), enabling them to be an additional provider of credit default insurance policies for Open Lending’s Lenders Protection Program.
“We are excited to announce Arch Insurance as our newest insurance carrier partner,” said John Flynn, Chairman and CEO of Open Lending. “Arch Insurance is part of a global enterprise offering superior coverage and service with over 20 years of operating history and strong financial ratings. We believe there is a lot of alignment between our missions and values, and are looking forward to growing our businesses together to insure more auto loans. We believe that there is plenty of volume to support additional insurance carriers while continuing to deepen our valued relationships with our existing carriers.”
“We believe the Lenders Protection Program is a very unique offering for lenders,” said Emilee Kuhn, Executive Vice President, Arch Warranty Lender Solutions at Arch Insurance. “We look forward to helping Open Lending further expand their program to credit unions, banks and OEMs across the U.S.”
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Instant Payments and the Proliferation of QR-Driven Transactions
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Sustainable Growth and Building Strategic Capability in Digital Transformation
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