In the United States, many drivers on the road do not have auto insurance. They may come into your dealership or financial lending institution with insurance, but then let it lapse due to difficulties paying or because they never intended to carry insurance on the vehicle in the first place. In the last 5 years auto insurance prices have increased rapidly to a point where drivers with bad credit and one ticket will not be able to afford auto insurance coverage. In five U.S. states, 20% or more of drivers have no insurance; countrywide that rate is even higher. Read more

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.

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