TruStage unveils digital lending insurance product

08/10/2023 News

TruStage, a seasoned financial services provider, has introduced Payment Guard Insurance, a digital lending insurance product designed to promote financial resilience for lenders and borrowers. Recognized as a Finovate Awards Finalist, Payment Guard Insurance acts as a safety net, protecting borrowers from potential loan defaults due to covered job loss or disability.

Key Points:

• Unique in Digital Lending: Payment Guard is accessible to digital lenders across various sectors, offering borrowers instant protection upon loan funding. It's budget-friendly and seamlessly integrated, requiring no extensive coding.

• Borrower Confidence: Payment Guard provides a layer of protection for borrowers facing covered job loss or disability. The aim is to help lenders attract borrowers, strengthen their portfolio's performance, and reduce time spent on collections.

• Collaboration with Industry Leaders: Happy Money and Zirtue are among the first platforms to integrate Payment Guard, offering their borrowers added confidence and security.

• No Impact on Loan Terms: Payment Guard coverage doesn't affect loan terms and is backed by the TruStage digital claims team for a straightforward claims process.

TruStage's Payment Guard Insurance is an important advancement in digital lending, addressing the evolving needs of lenders and borrowers, providing financial security and peace of mind.

Related news & insights

Sustainability & Regulation
10/12/2023 News

Chubb's Methane Resource Hub: A pioneering move for climate action

In collaboration with the Environmental Defense Fund (EDF), this resource hub represents a crucial step in Chubb's commitment to reducing...

09/12/2023 News

Cover Whale unveils AI chatbot "Bob" for commercial trucking insurance

Bob enhances communication between agents and policyholders, significantly improving response times critical for Cover Whale's growth.

Open Finance
08/12/2023 Interview

NewTech Friday: Bizum – Real-time mobile payment solution from Spanish banks

Bizum is a leading Spanish instant payment service company. Its Business Development Manager Fernando Rodríguez Ferrer presents the company and...

Digital Reinvention
07/12/2023 Interview

Charting the future: Inside Allo Bank's vision for digital banking in Indonesia

Embark on a journey through the digital landscape of banking as we sit down exclusively with Indra Utoyo, the President...

Digital Reinvention
06/12/2023 Interview

Innovation unleashed: Navigating the future with Lloyd's Lab

Innovation lab, innovation center, whatever the name, companies need to centralize their innovation activities. But how do they operate effectively?...

06/12/2023 Video

Paradigm shift for motor insurers: Collaborations with OEMs

Markus Collet, Partner at CVA, faces the challenge of explaining, in less than 5 minutes, how insurers must comprehend the...

06/12/2023 News

NAVER Pay unveils "My Insurance Analysis" for independent peer-comparison of premiums

This feature, an upgrade from the previous "All-in-One Insurance Overview," allows users to independently assess their insurance needs with data-driven...

Digital Reinvention
05/12/2023 Study

Innovation Radar: Banking Innovation Awards winners 2023

This year we received 452 innovations from 182 institutions in 61 countries in 2023 – a true showcase for innovation...