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., the leading provider of online Property and Casualty Insurance policy verification and automated lienholder process management services, announced a new partnership with Vermont Mutual Insurance Group.
“Vermont Mutual is extremely excited to employ Lenderdock’s base platform. It will allow our folks to spend more time providing superior customer service to our partners,” said Jonathan Becker, VP of Underwriting for Vermont Mutual Insurance.
Through the partnership, LenderDock’s Base Platform will help Vermont Mutual’s service and support teams eliminate time-consuming lender communications. LenderDock Base includes the Verifi™ and Correxion™ services.
“We are honored to support Vermont Mutual in its efforts to streamline its internal business processes and create efficiencies through technology. They are a great example of an insurance provider that has maintained their focus on delivering the best experience for their customers as possible,” said Frank Eubank, LenderDock’s CEO.
About Vermont Mutual Insurance Group
Chartered in 1828, the Vermont Mutual Insurance Group is one of the ten oldest mutual property/casualty insurers in the United States. The company provides coverage to over 300,000 policyholders through 800 independent agency locations in seven states – Connecticut, Maine, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont.
Vermont Mutual has also been rated “A+ Superior” by AM Best and named a Ward’s Top 50 performing property-casualty and insurance carrier for 14 consecutive years.
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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