State National Updates

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The Difference Is in the Details – CPI Done Right!

Superior CPI Starts With State National

State National is not the only company that offers portfolio protection — but we are the only one that puts safeguarding your loan portfolio at the core of everything we do. When it comes to greater ease of use, faster and larger claims payments, and a better borrower experience, be sure to look below surface statements -- because the difference between an "OK" experience and a superior one is truly is in the details.

To learn about Collateral Protection Insurance, read our article What Is Collateral Protection Insurance (CPI) – and Do You Need It?

 

View Our Featured Video: The Difference Is in the Details

 

Other CPI Providers Claim To Offer the Same Services. In Reality, They Aren’t Even in the Same Ballpark!

 

Recorded Calls: Other providers offer recorded client calls … but the catch is that you have to request each call individually and wait for it to be sent to you, and it could take weeks to get the recording. Additionally, these calls have to be listened to and approved by your CPI provider first, even though their interaction is with YOUR borrower. We know timing and efficiency matter to you and your borrowers, so our recorded calls are available immediately in your custom client access portal in InsurTrak. You can listen to calls and check the status of your borrower’s coverage any time you want — without the wait.

 

Borrower Texting: Your CPI provider should make their program as easy and seamless as possible for both you and your borrowers. It’s important to offer borrowers a multichannel approach to finance management. Some CPI providers offer texting as an option to reach borrowers receiving or at risk of receiving force placement … but eat up your time and money by just referring you to a text provider and, after initial setup, leaving you and your staff to manage the details yourself. Plus, it’s only free for a short time, adding additional cost down the road. Our text program is a free, integrated part of your State National CPI program and we handle it all for you, at no additional cost, now or later. Also, with our interactive texting, borrowers have the option to simply reply to a text with their insurance information — no other provider offers this feature.

 

Contact Center: Not only are other providers’ call centers commonly outsourced to third parties, but they utilize the same 1-800 number for all of their clients. This results in a generic greeting, frustrating phone trees, and unmeasured borrower satisfaction. Our contact center is located right at our Texas headquarters and staffed by highly trained CPI specialists. We provide a custom 800 number to every financial institution we partner with, and our courteous reps answer every call using your institution’s name. As a result of this method and the dedication of our amazing contact center team, we have a caller satisfaction score of over 95%.

 

Faster Claims Payments: Everyone who offers CPI says they have fast claims payments, but how fast? Because State National is the carrier, underwriter, and claims payer, there is no middleman and almost no paperwork in our process. Many claims are processed in seconds and paid overnight and those that need further review are paid within 5 days of their submission date. No other provider in the industry offers anything even close — their “fast” claims payments can take weeks or even longer, and the clock doesn’t even start ticking until you’ve completed all the paperwork. Additionally, because of the efficiency of our unique business model, we can pay about 20% more in claims than the other guys.

 

A Commitment to Focusing on the Details in Everything We Do

State National isn’t the only provider offering CPI, but we are the only provider that offers one-of-a-kind solutions to save you money, protect you and your borrower, and create the most positive borrower experience. We are not just a provider — we are your partner and we never stop working to continually ensure your long-term satisfaction.

Discover more of our differences and read why our VP of Sales John Pearson is constantly saying, “I Don’t Understand Why We Don’t Have All the Business!

 

State National
State National
As the leading insurance carrier in the United States specializing in CPI, State National offers single-source solutions for credit unions, banks, finance companies, and specialty lenders of all sizes. Our services are cost-effective and tailor-made to safeguard assets against uninsured collateral losses.

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