LenderDock and Assurant Team Up to Optimize Online Policy Verification
Salt Lake City – May 18, 2018 – LenderDock, the leader in automated lienholder management services, has announced a new partnership with Assurant (NYSE: AIZ) that will offer property & casualty (P&C) insurance providers access to a web-based solution that enables financial third parties to electronically verify and automate lienholder change requests in bulk. This new collaboration will drastically improve communication between the mortgage-lending community and the insurance industry and drive more innovation and operational efficiencies.
As the top business process outsourcer for the majority of the largest banks and lending institutions in the United States, Assurant manages clients’ property-related policy verifications and lienholder change requests. Traditionally, that activity has been handled by hundreds of service agents via phone or notifications sent by physical mail.
Through LenderDock’s online platform and dynamic Volume Processing solution, insurers are no longer required to service more than 500 million lender-made phone calls each year or contend with an onslaught of unnecessary correspondence filling up their mail rooms.
“The relationship with Assurant represents a significant opportunity to accelerate the adoption of real-time data management and virtually eliminate the millions of hours of manual processing,” said LenderDock CEO Frank Eubank. “Our two companies’ combined efforts will help us deliver on our web-services strategy to each of the respective insurance and mortgage banking segments and affirms LenderDock as the leader in this ‘new market’ category.”
Headquartered in Utah, LenderDock is the leading provider of online (P&C) insurance policy verification and automated lienholder management services. The SaaS platform offers banks, lenders, and all financial third parties the ability to electronically verify policy information and correct lienholder information in real time.