$1 Million Saved on Insurance: Pennymac and SimplyIOA Celebrate a Successful First Year
LONGWOOD, Fla., June 09, 2025 (GLOBE NEWSWIRE) -- SimplyIOA, a national insurance agency, and Pennymac, a top national mortgage lender and servicer, mark the first anniversary of their collaboration, celebrating the positive impact and substantial achievements in serving Pennymac's customers.
'Using machine learning and AI, SimplyIOA has optimized our processes and prioritized customers through automated communications,' said Michelle Sipe, Senior Vice President of Strategy and Operations at SimplyIOA. 'We have already seen amazing results in the early stages of working together, saving an average of $472 per customer, totaling $1 million across 13 insurance products in 42 states, and we are only just beginning*.'
As a result of SimplyIOA's collaboration with Pennymac, the top lender's customers are securing higher coverage limits and significant savings on their annual premiums.
'SimplyIOA streamlines the process for Pennymac customers to secure home insurance alongside their home loan,' said Abbie Tidmore, Chief Revenue Officer at Pennymac. 'This first year has proven highly successful in enabling us to provide exceptional value to our customers with the shared goal of reducing costs associated with homeowners insurance.'
This joint effort marks a significant step forward in integrating home financing and insurance solutions, ultimately delivering greater value and a more streamlined experience for homeowners.
'We are grateful for the unwavering support from the Pennymac team that has enabled us to achieve over $1 million in savings for Pennymac customers. We look forward to strengthening our relationship and celebrating more successes together in the coming years,' said Bob Peters, Chief Operating Officer at IOA GROUP*.
For additional information regarding SimplyIOA's complete list of servicings, please visit https://www.simplyioa.com/pennymac.
*The total savings figure is based on the total amount saved by Pennymac customers who switched their homeowners insurance with SimplyIOA and purchased an average $1,836 policy from March 2024 to February 2025.
About SimplyIOA
SimplyIOA is a national omnichannel personal lines insurance agency brought to you by Insurance Office of America (IOA). SimplyIOA's industry-leading technology, supported by experienced licensed advisors, enables customers from 48 states to compare and purchase 20 different insurance products online or over the phone in minutes.
For more information, visit: partners.simplyioa.com.
About Insurance Office of America
Insurance Office of America (IOA) is the third largest privately held insurance brokerage in the United States. Founded in 1988, IOA is a recognized leader in providing property and casualty, employee benefits, and personal lines insurance and risk management solutions as well as insurtech innovation. Headquartered in Longwood, Florida, part of the greater Orlando community, IOA has more than 1,400 associates located in over 60 offices in the U. S. and the United Kingdom. In California, dba IOA Insurance Services. (#0E67768) For more information, visit www.ioausa.com
Michelle Sipe -SVP, Operations & Implementations Executive
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6991d501-be1b-40ad-a769-e240c75ab91c
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