Verisurance’s Cutting-Edge CPI Technology: Enhancing Profitability and Compliance for Lenders


In the dynamic landscape of auto financing, managing risk efficiently is crucial for lenders. The surge in insurance policy cancellations due to escalating auto insurance costs poses a challenge for lenders, exposing them to uninsured losses. Collateral Protection Insurance (CPI) emerges as a robust solution, and Verisurance leads the way with its revolutionary technology, streamlining CPI programs with unprecedented efficiency.

Understanding CPI:

Collateral Protection Insurance, commonly known as force-placed insurance, shields auto lenders from financial losses arising when borrowers fail to maintain auto insurance. Verisurance’s CPI solution provides a safety net for lenders, ensuring protection against potential losses and enhancing overall risk management.

Leveraging Verifacto’s Loan Management System:

Verisurance integrates seamlessly with Verifacto’s Loan Management System, offering superior compliance and reporting capabilities. This integration not only minimizes overhead costs but also maximizes profitability by reducing losses, making it one of the most effective and efficient CPI programs in the market.

Compliance Made Easy:

The complexity of CPI enrollment and management, compounded by state-specific compliance requirements, is a common challenge. Verisurance addresses this by automating the entire CPI process, providing lenders with unparalleled visibility into borrower insurance statuses. This proactive approach minimizes the risk of compliance breaches, ensuring lenders stay on the right side of regulations.

Key Features of Verisurance’s CPI Solution:

  1. Automated CPI Processes:

    Verisurance’s software automates the entire CPI process, from enrollment to removal, reducing manual efforts and the risk of errors.
  2. Insurance Tracking Integration:

    The solution seamlessly integrates with insurance tracking, ensuring continuous monitoring and real-time updates on borrower insurance statuses.
  3. Comprehensive Compliance Checks:

    Verisurance’s CPI dashboard offers lenders a comprehensive view of their portfolio’s insurance risk, enabling proactive compliance management.

Verisurance CPI Management Services:

  • Dedicated CPI support for prompt assistance via email or phone.
  • Customer support for CPI-related queries.
  • Placement and issuance of CPI for accounts without insurance or with deficiencies.
  • Regular communication with insurance agencies to verify borrower insurance.
  • Compliance checks on all CPI accounts.
  • Email reports of placements and removals sent to lenders daily.
  • Maintenance of all CPI documents for comprehensive record-keeping.

Verisurance’s CPI solution, coupled with cutting-edge technology and seamless integration, is transforming how lenders approach risk management. By automating processes, ensuring compliance, and providing real-time insights, Verisurance empowers lenders to enhance profitability and navigate the intricate landscape of collateral protection with confidence. Contact Verisurance for a demo today and witness a significant boost in your profits while ensuring compliance with evolving industry standards.

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