Continuous database monitoring of borrower’s insurance, placing collateral protection insurance when the borrower fails to provide coverage.
Full Outsourcing of insurance monitoring to an outside tracking facility.
Letter Cycle and Premium Charge customized to meet the lender’s needs
Optional blanket coverage for Skip and Security Interest Non-Filing losses
Every available effort is made to avoid unnecessary placement of insurance
Coverage of Autos, Vans, Trucks, RVs, Watercraft and Mobile Homes
Deductible amount matching the borrower’s requirement under the loan agreement
Dual Interest Coverage allows the borrower to repair a damaged vehicle, thus avoiding repossession
Automatic Coverage of all loan collateral against uninsured physical damage or theft
Active monitoring of the amount of premium added to a loan balance minimizes write-offs of uncollectible premium amounts
Full outsourcing of insurance follow-up process reduces internal costs
Low ‘customer noise’ with ‘peace-of-mind’ knowing the collateral risk is fully covered.
Complete compliance with loan agreement terms
Costs are borne only by those borrowers who have failed to provide insurance
Speedy claim settlements via online claims website
Pro-active risk management keeps more vehicles insured and dual-interest coverage lowers repossessions by repair of partially-damaged vehicles.
Designed to protect lender’s bottom line yet with full compliance in mind