From Policy Change to Action: Why Timing Matters in Insurance
We’ve heard people in mortgage servicing use verification and tracking as if they’re interchangeable, and honestly, for a lot of daily work, treating them that way doesn’t break anything.
LenderDock provides real-time, insurance policy details through its magical web portal or its APIs.
LIENSure sends corrections digitally, straight from the financial source of truth and in bulk for easy processing.
ESCROWPay verifies what’s actually due before the money moves, then sends the payment and reconciliation data digitally.
NOTiFi delivers required policy, coverage, and billing notices in the formats lienholders actually use
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LenderDock Inc., a SaaS company offering the only fully digital Property and Casualty Insurance policy verification solution, announced a new partnership with Branch Insurance. LenderDock also specializes in automating lienholder process management services.
Through the partnership, LenderDock’s Base Platform will help Branch’s service and support teams eliminate time-consuming lender communications such as phone calls, emails, and paper mail. LenderDock Base includes the Verifi™ and Correxion™ services. In addition, Branch looks to implement LenderDock’s Notifi™ service, which facilitates the electronic delivery of loss payee, billing notifications, and escrow billing.
“Our partnership with Branch represents a true collaboration in “doubling down” on better ways to cut costs and streamline operational processes that are cumbersome or unnecessary. There is a shared vision of fast-tracking to an environment where technology truly adds value and supports a customer-centric strategy,” said Frank Eubank, LenderDock’s CEO.
Branch is an insurance company that uses data and technology to make insurance easier to buy and less expensive for all. With Home, Auto, Umbrella, Renter’s, and other coverages available, Branch makes it simpler to get great coverage.
Through their instant-bind process, Branch can get most people covered in seconds while bundling home and auto insurance. Branch’s 5-star rated insurance allows for customizable coverage to fit consumers’ needs while saving money.
“Branch’s mission is to lower the cost of insurance so more people can be covered, and by working with LenderDock, we can streamline verification and notification systems, saving our members time and money,” said Joe Emison, Branch Co-Founder, and CTO. “We look forward to enhancing the experiences of our customers and our support staff through this partnership.”
We’ve heard people in mortgage servicing use verification and tracking as if they’re interchangeable, and honestly, for a lot of daily work, treating them that way doesn’t break anything.
A two-day lag between a policy change and everyone finding out about it used to be annoying, not dangerous. Someone made a call, waited, got an answer, and moved on with their day.
We’ve heard people in mortgage servicing use verification and tracking as if they’re interchangeable, and honestly, for a lot of daily work, treating them that way doesn’t break anything.
Insurance verification is a routine part of the lending and insurance process. A lender needs to know whether a policy is active. A mortgage servicer may need to confirm coverage or mortgagee information. An insurance…
In the earliest version of insurance verification, the person answering the phone actually had to know things. They pulled a physical file, checked handwriting against a ledger, and made a judgment call about whether what…
Two insurers can each have perfectly accurate, well-maintained policy databases and still fail to exchange a single piece of usable data between them.
Every single day, insurance workers face a mountain of simple questions. Are they tired of answering the same questions about policy coverage all day long? Yes, they are. When banks or lenders need to check…
A title company closing a home sale needs to confirm the seller’s policy is active before the deal can move. An auto lender needs the same thing before releasing funds on a car loan. A…
Most people who take out a mortgage never think about insurance as part of the loan itself. It feels adjacent, a separate purchase, something the lender requires but does not really participate in beyond checking…
Mortgagee corrections are a routine part of insurance servicing, but the process behind them is often anything but simple. A lender may find that the mortgagee’s name or address on a policy is out of…
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