A new partnership between Landbay and Legal and General has been forged to launch a ‘quoting engine’ to aid with property investments.
Specialist buy to let lender Landbay has joined with Legal and General to launch a brand new ‘quoting engine’ insurance service for landlords and property investors. The move is set to shake up the buy to let property sector by speeding up the often long and complex investment process.
The new solution offered by the coalition of the two companies has been described as a ‘point-of-demand’ service and is facilitated by insurance technology firm Kasko. The aim behind the product is to enable real-time quoting for investors, as well as offering the underwriting of building, contents, tenant and rent guarantee insurance to cover all aspects of the investment.
The ‘quoting engine’ is set to be integrated with Landbay’s online application portal for brokers and their clients in the buy to let property sector.
Landbay managing director Paul Brett commented on the move: ‘Landbay is committed to providing its intermediary partners with simple ways to add value and generate additional revenue from each opportunity. This new service will offer our brokers, and in turn their clients, a great deal on their insurance. Meanwhile we will leverage the latest insurtech innovations to generate quotes quickly and seamlessly, without the need for yet more paperwork when they apply for a Landbay mortgage.’
Landbay co-founder and chief commercial officer Gray Stern added to this: ‘The tie up with Legal and General follows our recent agreement with a ‘Big 4’ firm to support Landbay Accounting and Tax Services. These new value-add services have been developed to enhance our specialist buy to let mortgage offering and help position us as an expert within UK buy to let.’