Avoid Insurance Verification Delays and Reduce Employee and Borrower Stress

The Difference Is in the Details: Timely Automated Insurance Verification for Borrowers “Why am I getting these notifications? I sent in my insurance information already — twice!” Depending on the company and system you’re using for insurance tracking, this kind of noise may be an all-too-familiar sound. It’s never a good feeling to hear that an upset borrower has called to complain that they’ve received an insurance notification — or even worse, had a policy placed — in error. That’s why it’s so important that the partner you choose for portfolio protection has done everything they can to ensure those calls don’t happen. Collateral protection has come a long way since State National pioneered it back in 1973. In those days, when notifications and insurance submission was all done by mail or phone, even the best-run programs had to cope with a certain level of borrower noise because of unavoidable delays. But, fast forward to today and cutting-edge proprietary advanced technology and tools are available to solve these problems — in many cases, before they ever happen. We’ll let you in on a secret, though — not every provider has them at the same level, although they may tell you they do. Because of State National’s exclusive technology solutions, and service that’s entirely focused on portfolio protection, all you’ll notice is the peaceful sound of silence — which is good for your borrowers, your staff, and your bottom line. Watch the short video below to see how State National can help you reduce friction and borrower noise in your collateral protection program.

Ceremony kicks off “Spring Into Wellness” event for employees

“State National certainly saves us time and money, because of the tracking they do on the insurance. That’s why we use them.”

Part 2 of Our 3-Part Blog Series on Collateral Protection Insurance At State National, we have specialized in loan tracking and portfolio protection insurance for more than 50 years. To us, the ins and outs of collateral protection are second nature — but others may be somewhat unsure of exactly what it is, how it works, and how different portfolio protection methods compare.