Verifacto: Not Your Average Auto Insurance Tracking Company
In the automotive industry, it’s crucial lenders, dealers and finance companies effectively track their customers’ auto insurance status. This allows lenders to stay on top of every update and keep their company safe from potential liability or monetary loss.
Nearly every auto insurance tracking company claims to help you save money, but Verifacto stands apart from the competition with its unique technology to put you, the lender, in control so you’re never in the dark when it comes to your customers’ insurance status.
What We Do
Verifacto is an innovative technology company focused on improving the way auto lenders and borrowers connect. We do this by organizing the information we obtain from lenders, borrowers, and insurers to make it useful and easy to access for our clients and their customers. Our goal is to take common complex problems facing the auto industry and create products that mitigate insurance, compliance and financial risk.
The idea for Verifacto’s insurance tracking solution came as an attempt to solve a complex problem plaguing lenders daily. The current system of collateral insurance management is expensive and inefficient, and we knew something had to be done to help lenders and dealers avoid risk as much as possible. This led to the creation of our technology that lets lenders stay on top of their customers’ insurance status while also remaining cost effective.
How We’re Different from Other Auto Insurance Tracking Companies
Verifacto provides the industry’s most reliable and secure insurance tracking system. Our cutting-edge technology is a leading provider of cloud-based software designed to effectively manage risk through tracking auto insurance statuses with customers. This is done by efficiently communicating with customers in a “lender’s portfolio” to ensure they have the proper insurance coverage.
Current methods used in insurance tracking are inefficient and costly. Keeping up with mountains of paperwork, address changes, loan transfers, and large amounts of data entries make insurance tracking time consuming and expensive – not to mention the high-risk potential of information falling through the cracks.
At Verifacto, we’ve simplified the insurance tracking process so both lenders and customers are on the same page in communication at all times.
Effective Auto Insurance Tracking
Our insurance tracking technology uses a customizable online dashboard that allows users to quickly and easily access data, pull real-time reports with the click of a button, and fully communicate with customers to resolve any insurance red flags.
Verifacto’s auto insurance tracking technology benefits include:
- Track insurance coverage on existing loans
- Easily verify insurance coverage on new loans
- Receive a detailed insurance history for compliance and recovery
- Automate customer communication to resolve insurance issues
- Gain more visibility and control into your portfolio
- Quickly and easily pull internal reports with a single click
- Store borrower communications for easy and fast reference
- Increase overall profitability and portfolio value
Our insurance tracking works by initiating contact with customers via text and email from day one. Once your customers are aware their insurance is now closely monitored, they react by taking immediate action. Customers want to avoid having their vehicle repossessed or having force-placed insurance, also known as Collateral Protection Insurance (CPI), issued on their vehicle. Our system automatically follows up with customers until all risks are resolved.
Taking Customer Satisfaction a Step Further with VeriSurance
A unique aspect of our technology is that we aim to maintain a positive relationship between the lender and the borrower. With VeriSurance, lenders can offer customers access to our auto insurance marketplace to shop, compare rates and purchase insurance online anytime.
VeriSurance compares auto insurance quotes from the most trusted companies and matches customers with the best car insurance offer tailored just for them. VeriSurance is an easy, one-stop solution to reduce risk for borrowers and lenders.
Try a Free Demo Today
At Verifacto, we stand apart from other insurance tracking companies by providing lenders with simple and efficient technology to keep them updated and in control of insurance tracking. We know insurance tracking is only one of the issues causing problems for auto lenders and dealers, which is why we also offer services for automated payment reminders, payment processing, collateral protection insurance and smart recovery.
If you want better risk management and increased profits for your company, try Verifacto today and see exactly why we’re different from other insurance tracking companies.
Give us a call at 678-783-8123 or email us at email@example.com to try a free demo today.
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