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
LenderDock Inc., the leading provider of online Property and Casualty Insurance policy verification and automated lienholder process management services, announced a new partnership with Oklahoma Farm Bureau Insurance.
“LenderDock is thrilled to be partnered with Oklahoma Farm Bureau. They are committed to optimizing and improving their internal business workflows through technology in order to serve their customers and members better. Doubling down on process automation is going to assure their ability to meet the growing demands for operational efficiency,” said Frank Eubank, LenderDock’s CEO.
Oklahoma Farm will take full advantage of LenderDock’s Verifi™, Correxions™, and LenderDocs™ solutions.
Verifi™ is a real-time insurance policy verification system designed for verifiers and lenders. With Verifi™, phone calls for policy verification are a thing of the past, making the process faster and more efficient.
The second tool, Correxions™, automates the process of updating policy information by allowing lenders to submit corrections directly to the carrier. This enables carriers or providers to process the updates efficiently according to their own procedures.
Finally, LenderDocs™ provides electronic and real-time access to important policy-related documents such as EOIs, Certificates, and others to financial third parties. This helps streamline the process of obtaining and sharing these documents, making it easier for business partners to manage their policy information.
“As Oklahoma Farm Bureau Insurance continues to strive toward optimal operational efficiency, LenderDock provides an important component to streamline customer service in the area of policy additional interests,” said Erin Gillespie, Business Analyst at Oklahoma Farm Bureau.
He added, “Enhancing data accuracy will improve additional interest communication including timeliness of payments for accounts receivable. But the primary benefit is the time freed up for our staff that can be funneled into other initiatives for policy administration and an improved overall customer service experience.”
About Oklahoma Farm Bureau
The Oklahoma Farm Bureau was organized in 1942 by Oklahoma farm and ranch families. Soon after, many members of the Bureau realized auto insurance was a service many of the state’s farmers and ranchers needed most. In 1957, they became affiliated with what is today known as Farm Bureau Life Insurance Company to offer life insurance products to Oklahoma Farm Bureau members. Today, OKFB has offices in all 77 counties in the Sooner State.
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.
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