{"id":556,"date":"2018-11-05T18:38:38","date_gmt":"2018-11-05T18:38:38","guid":{"rendered":"https:\/\/verisurance.com\/?p=556"},"modified":"2024-02-14T08:30:47","modified_gmt":"2024-02-14T13:30:47","slug":"insurance-tracking-services-help-reduce-risk","status":"publish","type":"post","link":"https:\/\/verisurance.com\/es\/insurance-tracking-services-help-reduce-risk\/","title":{"rendered":"How Insurance Tracking Services Help Reduce Risk"},"content":{"rendered":"

As an auto lender, you need the power to manage insurance risks and reduce your insurance-based losses every day. Current risk management systems (RMSs) allow at least $3.5 billion in losses for companies like yours due to uninsured and improperly insured vehicle accidents every year. Don\u2019t put your business\u2019 assets in jeopardy. Verisurance can help. Let\u2019s take a quick look at insurance tracking<\/a> services, what they are, how they work, and the benefits of using them for your business.<\/p>\n

What Are Insurance Tracking Services?<\/h2>\n

Current RMSs do not provide needed control, management, or mitigation of uninsured drivers and vehicles. Thus companies lose billions annually. Verisurance\u2019s solution is an insurance tracking service that checks your customers\u2019 insurance status and checks for any deficiencies or issues that might leave you in the uninsured lurch. By tracking customers and vehicle purchasers throughout the life of the loan, Verisurance insurance tracking services reduce losses on your investments, now and in the future.<\/p>\n

How Do Insurance Tracking Services Work?<\/h2>\n

Insurance tracking services work by tracking and managing your \u00a0customers on a consistent basis, automatically alerting lienholders internally in the software systems as well as their customers. Customers are alerted through email and SMS if permitted, calling them to perform necessary functions in order to insure their vehicles, or handle any outstanding issues that are preventing insurance. Since all parties are automatically engaged from the lienholder to the insurance company, more effective communication leads to immediate action. Customer email alerts notify customers of competitive auto insurance quotes to enable them to choose the best option for their lifestyles.<\/p>\n

How Can Insurance Tracking Services Help My Business?<\/h2>\n

Businesses like yours often take the hit for uninsured or underinsured vehicles and motorists, leading to decreased bottom lines and loss of revenue across the board. This negative impact on your business isn\u2019t necessary, however, with efficient insurance tracking services like Verisurance. Verisurance will increase loan revenue and manage collateral protection insurance<\/a>, reducing overall lender risk. Verisurance controls and manages all aspects of customer vehicle insurance compliance by tracking customers\u2019 insurance selections and issues, providing an efficient communication system, \u00a0placing and removing CPI at the dealership\u2019s or lender\u2019s discretion.<\/p>\n

Which Insurance Tracking Services Does Verisurance Provide?<\/h2>\n

When you choose Verisurance for insurance tracking services you also get the following benefits:<\/p>\n