Our WRAP (Web-Based Robotic Automated Processing) system is continuing to accelerate performance! WRAP proactively searches for new policy information from 7 major carriers, including the country's top 5 auto insurers — all fully automated, with no borrower contact needed.

AI-Powered WRAP Expands to Deliver Even Greater Results

Robotics Processing Innovations Drive Increased Efficiency Gains

WRAP stands for Web-Based Robotic Automated Processing, and it has delivered incredible results for State National’s clients since we were the first to introduce it back in 2019. In fact, you could say that our AI-based bot “team” has started a revolution in automated insurance verification.

Before WRAP, our insurance verification staff had to complete all web-based verifications manually, by logging in to insurance companies’ websites to find the data they needed. But with WRAP, thousands of borrower accounts can be automatically updated in our proprietary InsurTrak tracking and reporting system every day, without any human intervention whatsoever. This frees up our human staff, leaving them even more readily available to help our clients maximize results from their CPI program.

These hard-working software bots are fast, precise, and tireless — reducing bottlenecks, accelerating speed, and increasing accuracy around the clock. They slash inefficiencies and love serving our clients 24/7!

Continual Improvement — WRAP Just Keeps Getting Better!

Since our initial investment in WRAP, we have continually expanded its use to search for, locate, and update our systems with up-to-the-minute, real-time insurance information.

We could see right away that WRAP was delivering remarkable results, so we quickly started looking for other places to put this powerful AI technology to work. Our research showed that 40% of all auto insurance policies canceled with the top 5 carriers (Allstate, Farmers, GEICO, Progressive, and State Farm) were subsequently renewed with one of the other five. We also noticed that many borrowers who canceled with other carriers ended up also choosing one of these 5 leading companies.

So, in September of 2020, we programmed our bots to proactively search for new policy information within these 5 large carriers whenever we are alerted that any borrower’s policy has been canceled. This happens 3 days before a notice would have been sent to a borrower with a canceled policy — which means many notices that previously would have gone out due to lack of available information now just never happen.

Little Bots, Big Results

A month after putting WRAP into action in this new way, we saw about a 30% drop in these types of notices sent to borrowers, and this percentage has increased even further in the years since then!

To learn more about how our bots work for you, watch the video.

Today, this AI technology is doing more than ever to maximize productivity at State National. In fact, we also added some bots to the team that can search for insurance on new loans as they hit the State National system — searching the same 5 carriers they do for cancellations.

This innovation significantly reduced borrower notices and customer noise, allowing borrowers to focus on enjoying their new vehicles.

Even Faster Claims Payments With AI-Based InstaClaim

Not only that, but we’ve also been able to utilize these AI bots to streamline our claims processes with InstaClaim, which automatically settles some types of claims in 10 seconds or less. Claims paid in seconds, instead of waiting days or weeks? There’s simply nothing else like it in our industry.

Revolutionizing Portfolio Protection Through Technology Innovation

The past several years have seen leaps in technology that have helped us optimize how we receive and process data. We've put AI to work for Intelligent Document Processing (IDP), for QA evaluations and gamification in our award-winning Contact Center, and more. And, in our relentless pursuit of continual improvement of portfolio protection delivery, we are always on the lookout for more opportunities to speed up and streamline our workflows.

State National’s commitment to innovation delivers a positive client and borrower experience credit unions, banks, and finance companies just can’t get from any other provider.