Customer Success
Stopping the endless stream of mortgagee calls & interactions
Indiana Farm Bureau
Case
Client
On October 18th, 1934, Indiana Farm Bureau established an insurance company to provide Hoosier famers with better insurance options. Today, Indiana Farm Bureau Insurance provides home, auto, life, farm and crop, business, and renters insurance, along with other financial products, to Hoosiers statewide. Indiana Farm has grown with agents and employees in all 92 counties.
Problem:
Liberty Mutual Insurance estimates that its customer service department must handle an estimated 1 million inbound phone calls annually from lienholders and mortgagees.
Every insurance provider, big or small, is burdened with an incessant amount of incoming phone calls from financial third parties attempting to verify coverages, request loss payee corrections, insurance documents, and so on.
For nearly three years, PEMCO Mutual searched for a solution to stop the endless stream of mortgagee calls and interactions, even going as far as increasing hold times for known offenders and limiting the number of tasks per call.
Strategy & approach
In 2018, England welcomed LenderDock – the innovator in automated lienholder management services. Indiana Farm Bureau enrolled and completed a streamlined 60-day implementation process that launched a fully cloud-based solution for them.
Through LenderDock’s Verification-as-a-Service platform, mortgage banks and lenders are now able to access up-to-date information digitally with no need for phone calls. Amazingly, within only one month of using this service, Indiana Farm Bureau saw an astonishing 90% reduction in lender call traffic.
Achieved results
Simplified integrations
Indiana Farm Bureau was able to take advantage of LenderDock’s custom competitor plugin to get set up with NOTiFi™️ without any technical integration, coding, or IT support.
Initially, they sought assistance through outsourcing, but still found it expensive and time-consuming. However, with the right solution at their disposal, they now have access to simplified processes that provide ease without sacrificing cost or quality.
“Thanks to LenderDock, we are not only saving money, but it is nice to know we can contact them directly and get our questions answered immediately. They’ve made the process easy and affordable. ”