Insurance can be complex. Turn to our blog for up-to-date, relevant content to help you make the best decisions for your financial institution. With expert knowledge from seasoned industry professionals, we simplify insurance topics so you can get back to business.Part 1 of Our 3-Part Blog Series on Collateral Protection Insurance
Our WRAP (Web-Based Robotic Automated Processing) system is continuing to increase efficiencies. WRAP now proactively searches for new policy information from 7 major carriers, including the country's top 5 auto insurers. UPDATE! To illustrate how WRAP continues to increase in power and efficiency, in April 2023 the bots reviewed over 140,000 loans, successfully finding and updating insurance on 33% — all completely automatically and with no borrower contact needed.
Core conversion is inevitable with institutional growth. State National has witnessed hundreds of our credit union, bank, and finance company partners’ core conversions.
Reliability, Credibility, Assurance & Integrity ... the Building Blocks of State National Our commitment to reliability truly speaks volumes about our company culture and desire to always do right as a service provider.
Guaranteed Asset Protection (GAP) has always been an important component of a comprehensive risk mitigation solution for auto lenders — and in today's economy, it has become even more critical. Without GAP protecting a lender's collateralized loans, borrowers are still responsible for any deficiency balance in the event of a total loss. Francine Gagliano, Director of Client Services at State National, shares how a high-quality GAP program protects these borrowers and also protects financial institutions from charge-offs.
