Algebrik AI, which offers what the company believes is the first cloud-native, artificial intelligence-powered, digital-era loan origination platform (LOS), announced a strategic partnership with Auto Exam, a provider of vehicle service contracts, GAP insurance, and collateral protection products.

The companies said this collaboration aims to revolutionize auto financing by integrating comprehensive protection solutions directly into the origination process, enhancing value for both finance companies and consumers.

Through this partnership, financial institutions can:

—Offer comprehensive vehicle protection: Seamlessly integrate Auto Exam’s suite of products, including extended service contracts and GAP coverage, into their auto finance offerings via Algebrik’s LOS, providing applicants with peace of mind and financial security.

—Streamline processes: Utilize Algebrik AI’s advanced LOS to automate the inclusion of protection products, reducing manual efforts and accelerating contract approvals.

—Enhance customer satisfaction: Deliver a fluid financing experience via Algebrik’s digital-era LOS by offering value-added services that can protect contract holders from unexpected expenses related to vehicle ownership.

“At Auto Exam, we are dedicated to providing top-tier vehicle protection products that safeguard consumers’ investments,” Auto Exam CEO Shane Vaughn said in a news release. “Partnering with Algebrik AI allows us to extend our reach and seamlessly integrate our solutions into the lending process, enhancing the overall borrower experience.”

The companies went on to say this collaboration underscores a shared vision to elevate the auto financing landscape by:

—Reducing financial risks for borrowers: Offering products that cover unforeseen vehicle repair costs and potential loan deficiencies, thereby protecting borrowers’ financial well-being.

—Improving operational efficiency for finance companies: Automating the integration of protection products into loan offerings, resulting in streamlined workflows and faster loan processing times.

—Expanding market reach: Enabling finance companies to attract and retain customers by providing comprehensive loan packages that include essential vehicle protection services.

“Integrating Auto Exam’s robust protection solutions into our cloud-native, AI-powered, digital-era LOS enables auto lenders to offer unparalleled value to their borrowers,” said Pankaj Jain, founder and CEO of Algebrik AI. “This partnership reflects our commitment to innovation and excellence in auto lending, ensuring borrowers receive comprehensive protection alongside efficient loan processing.”

For more information about Algebrik AI and this partnership, visit https://www.algebrik.ai.