If you’re in the auto finance or banking industries, or if you’re a credit union or BHPH dealer, you need an insurance tracking solution to run your business better, more efficiently, and with greater returns and risk management. Take a look at your current risk management system and decide whether it tracks insurance and solves your insurance risks, has an asset recovery management system, or has automatic payment reminders and payment processing for your clients and your business. If it doesn’t, you may need to get a new risk management system. Let’s take a look at insurance tracking and why you need it.
As an auto finance company or BHPH car dealer, one of your main concerns is risk management in the auto insurance industry. The responsibility of the borrower is not always guaranteed, but with Collateral Protection Insurance, or CPI, we can help mitigate that risk and help borrowers feel more responsible for the amount they are borrowing from a lender. If you’re a lender, you may have had trouble ensuring borrowers, or helping them purchase adequate auto insurance to fulfill their loan agreement insurance requirements. Verifacto™ insurance tracking software can help your business provide adequate control, risk mitigation, and lending management all in one easy-to-use, comprehensive program. Let’s look deeper into CPI and how Verifacto™ works.