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Customer Success
Reducing costs and improving lienholder communications
WRIGHT FLOOD
Case
Client
Wright Flood is focused on federal flood insurance and excess flood insurance. The company has more than 40 years of experience in the flood insurance market and works with more than 17,000 independent agents. Wright Flood also employs nearly 300 NFIP-trained associates in St. Petersburg, Florida.
Problem:
Too Many Manual Steps
Before working with LenderDock, Wright Flood used a mix of manual updates and another vendor to manage lienholder communications. Over time, the process became a problem. Wright Flood was seeing too many failures with its existing vendor. The team needed a better way to manage the work while keeping costs under control.
Strategy & approach
Wright Flood chose LenderDock after looking at several factors. Other parts of the company were already using LenderDock, which gave the team confidence in the platform. The feature set, products, and cost also played a role in the decision.
The move to LenderDock was supported by an integration team that worked closely with Wright Flood throughout the transition.
Achieved results
Fewer Rejects and Lower Costs
Since moving to LenderDock, Wright Flood has seen fewer rejects and a better process for handling the ones that do occur. The company has also reduced expenses.
The savings have added up quickly. In just 10 months, Wright Flood estimates it has saved about $200,000.
The change has also had an effect on the team. With a better process in place, employees have more confidence in how lienholder communications are handled.
“The integration team was very hands-on and supportive during the transition.”
- Tim Love
Wright Flood - CIO