Have you considered making the switch to blanket insurance for consumer loans but are unsure how LSI is administered?
Not only does LSI eliminate both the need to track insurance and force place insurance, it also helps to streamline your loan servicing work flow. How you ask? The process is all made possible by Lenders Risk’s online LSI web platform, which was developed internally with the help of our lending clients. Our goal was simple; make loan reporting and claims administration as seamless and transparent as possible.
From an administrative standpoint once a Lender converts to blanket LSI insurance, the only actions required by them is reporting the number of loans made in a month and making any claims, both of which are done via our online web portal.
Our web-based platform is available 24/7, easy to use, flexible and shows claim status notes updated in real time. You can see closed claims by date, claim type, collateral type or other sort criteria. And it’s all paperless!
Check out how simple our LSI Platform is to use in this video Demo:
Ready to see how Lenders Risk can help streamline your workflow? To learn more about our LSI insurance or obtain a quote, call 888-600-4436.