Open Lending Corporation is a provider of loan analytics, risk-based loan pricing, risk modeling and automated decision technology for automotive lenders throughout the United States. It provides lending enablement and risk analytics to credit unions, regional banks, finance companies and the captive finance companies of automakers. It also operates as a third-party administrator that adjudicates insurance claims and premium adjustments on automotive loans. Its flagship product, Lenders Protection Platform (LPP), is a cloud-based automotive lending platform. LPP supports loans made to near prime and non-prime borrowers and is designed to underwrite default insurance by linking automotive lenders to insurance companies. The platform uses risk-based pricing models that enable automotive lenders to assess the credit risk of a potential borrower using data-driven analysis. LPP risk models use a score in assessing and pricing risk on automotive loan applications. It serves over 438 lenders.
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