INSURANCE TRACKING & LENDER PLACEMENT
AutoPilot’s insurance module ensures that you are up-to-date with SWBC’s auto and mortgage insurance tracking process from beginning to end. Our back-end processes provided in one of our three service centers focus on accuracy to ensure a quality customer service experience.
To meet your institution's specific needs, your insurance tracking and placement transaction processing can either be automated or more hands-on, involving personal attention and service.
Insurance Tracking Module Features:
- Near real-time view of all customer interactions, insurance documentation, borrower correspondences, recorded calls, and service activity
- Submit lender placed claims and check the status
- Access dozens of management dashboards and reports
- Pay your lender placed billing online
- Update insurance status, waive or unwaive a lender placed policy, cancel a lender placed policy, transfer insurance, request a manual lender placed policy, or add your own notes to the loan record
Insurance Tracking Program Features:
- Multiple underwriting relationships to ensure customized insurance protection on your loan portfolio
- All services provided by SWBC, including underwriting, insurance tracking, and claim processing
- Reliable quality control processes and service levels for all document processing and customer service activity
- Multiple borrower touch points and communication capabilities, including traditional letters, automated phone messaging, texts, and emails
- A private-labeled microsite, allowing your borrowers to submit and verify insurance at their convenience
- Ongoing service and support from one of our knowledgeable and experienced account managers
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Hybrid CPI—A Win-Win for You and Your Borrowers
SWBC's exclusive offering, Hybrid CPI, is a more consumer-friendly and lender-friendly approach to protecting your interests when borrowers don’t live up to their obligation (and state insurance requirements) to maintain proper insurance on their vehicles. Not only does it offer the lender placed protection you need, at a price your borrowers can afford—the Hybrid program itself is also less expensive than other traditional CPI programs on the market. That means, you AND your borrowers save.
Download our Hybrid CPI overview to learn more!
- Lower rates. The cost of a Hybrid CPI policy is as little as $50–$90 per month
- Coverage for your biggest risk, without any unnecessary add-ons
- Monthly notifications to your borrowers, reminding them of their insurance obligations
- SWBC's world-class service and technology
- Reduces repossessions that occur as the result of borrowers not being able to afford the additional cost of the lender placed insurance
- Increases the number of borrowers that are able to stay in their vehicles and make their payments on time
- Increases your cash flow because no one has to “front” the expensive cost of traditional lender placed insurance
- Eliminates the need for skip and premium deficiency coverage, driving your costs down even more
- Keeps you compliant with consumer protection regulations and best practices
- Decreased delinquencies, reduced fees for your borrowers, and less time
and energy for your employee (with optional skip resolution service)
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