There's everyone else — and then there's State National
- We are end-to-end CPI specialists
- CPI claims filing advantage
- Easy access to dedicated service support team
- Our unique proactive verification approach
- Our impairment-specific email and text communications
- Lender-focused path for inbound documentation and communications
- Proven core processor compatibility
- Filene Research Institute premier partnership
- Client Advisory Council
... and an extra bonus reason!
We are end-to-end CPI specialists. State National is the only insurance company in the nation solely dedicated to CPI as its core product. We are the agent, tracking company, claims administrator, underwriter, and insurance company, all under one roof. Having end-to-end control of the process means no middlemen and none of the delays that come with companies that merely serve as a broker. We were one of the pioneers of insurance tracking and lender-placed insurance, and have been the leading provider for nearly 50 years.
CPI claims filing advantage. Paperless process, with no documentation required. Some claim types are processed and paid in 6 seconds or less, and 90% of claims are processed in less than 5 days from the date the claim is filed. One single claim filing is processed for all available coverages, and we pay 20% more back on average. As the only provider that is also the insurance company and has in-house underwriting and claims payment, we are the only provider even capable of offering this level of speed and ease.
InsurTrak. We created the industry’s only proprietary system built from scratch specifically for CPI. This single sign-on, real-time source of truth for insurance tracking, claims, and reporting provides maximum ease, speed, and transparency. All loan portfolio data is at your fingertips, accessible instantly, all in one place. Additionally, you can access member phone call recordings immediately after they happen and check statuses directly on InsurTrak, 24/7.
“We want a process in place that’s simple, repeatable and easy, and that’s what we found in State National and their technology — it’s just clean and efficient. It makes serving our customers easier, and we can move on to the next thing."
~ United Finance
“State National’s tracking system is better and so much more accurate. From day one, the tracking and automation was just 100% better.”
~ CommunityWide Federal Credit Union
- Easy access to dedicated service support team. Direct toll-free phone number for all day-to-day contact, weekly account reviews, and loan level management connects your staff to an Account Service team assigned to your program that knows it inside and out — no waiting for return emails or phone calls. A dedicated Client Service Executive is also assigned specifically to your financial institution for strategic in-person meetings and ongoing training and CPI program level management.
"I appreciate the teamwork that State National provides. I don’t look at them like a third-party vendor, but rather as an extension of us — because I know State National looks out for our best interest.”
~ MAX Credit Union
Our unique proactive verification approach and integration with the largest insurance carriers means fewer notices, fewer placements, and a significant reduction in staff time required to manage your program. Exclusive technologies including WRAP (Web-Based Robotic Automated Processing) for AI-based insurance verification and VeriTrak (for strategic queuing of verification phone calls) result in fewer notices sent and less borrower noise.
"Since the conversion to State National, member complaints and frustration have decreased dramatically — I don’t even remember the last complaint, to be honest.”
~CapEd Credit Union
“Since we began our partnership with State National, we’ve been able to reduce false placements by almost two-thirds, which definitely elevates the customer experience, not having to spend their time or get frustrated trying to get a policy reversed"
~ Gate City Bank
- Our impairment-specific email and text communications result in 28% fewer notices sent to borrowers. We’re the only CPI provider that sends multiple emails and texts to improve borrower experience and reduce staff time. Borrowers can quickly reply with an image by text or upload their information online, all from their mobile devices. We are also the only provider that sets up and maintains the text program on your behalf, at no cost to you, now or later.
- Lender-focused path for inbound documentation and communications. Your own exclusive dedicated P.O. Box for all insurance mail saves significant staff time vs. opening all the mail and forwarding it to a provider, plus it provides faster processing and less chance of lost documentation. In addition, a dedicated toll-free 800 number for borrower calls, answered as your financial institution, provides a more seamless and frictionless borrower experience.
- Proven core processor compatibility. Full CPI payment adjustment automation for CPI premium adds and refunds, including partial refunds. Our system is compatible with all major core processors.
“You have to be savvy with technology to be effective with this kind of insurance product. We were looking for a company that could help, that had the right technology. We looked at 3 or 4 other companies and State National was far above everybody else.”
~ Pronto Finance
- Filene Research Institute premier partnership exclusive to State National. Filene is a credit union and consumer finance think tank headquartered in Madison, Wisconsin. As an Inner Circle member and sponsor of their Centers of Excellence, we provide support for their mission to connect credit unions with insights and innovations to change people’s lives. This partnership also gives us access to original research to better focus future advancements & technology innovations into CPI program improvements for our credit union partners.
- Client Advisory Council. Founded in 2018, the council convenes a group of top clients to discuss issues critically important to them and us. The State National CAC is a forum to share information, gain consensus on key topics, and collaborate with peers and partners to creatively pursue problem-solving strategies for their institutions. It also generates feedback and guidance that helps us continually improve and enhance our products and services to better meet the needs of ALL our clients.
"State National is a great partner. I'm glad they asked me to join the CAC because it gives me an opportunity to keep that partnership active and very vibrant. And I enjoy the fact that I get to see what State National is doing and what’s on their horizon and how it’s going to benefit not only my credit union, but the credit union industry.”
~ My Credit Union
Bonus Item! State National Companies is a subsidiary of Markel Corporation, a $33 billion insurance and investment organization currently ranked at 289 within the Fortune 500!