Guaranteeing an auto loan portfolio is adequately insured is vital to maintaining a healthy loan portfolio. By partnering with an industry leader, Allied Solutions, ICA is able to offer state-of-the-art Collateral Protection Insurance (CPI), Single Monthly Premium (SMP), and Vendor Single Interest (VSI) programs with local, hands-on and personalized service.
Key Advantages to the ICA & Allied Partnership:
- Economies of Scale: The sheer size and technological advancements of Allied Solutions, combined with the market expertise and customer base of ICA, Inc., provides the perfect administration and support program. Utilizing the front-side sales and support staff of ICA and the back-side infrastructure of Allied, no other company can match the performance and Credit Union satisfaction that we’ve achieved.
- Dedicated Credit Union Support: The importance and attention to superior customer support is something that has made ICA successful for over 43 years in the Credit Union market. Credit Union issues are handled directly by the ICA support staff. There’s no “call center” when you have a problem or question. Lenders will work directly with the dedicated team at ICA and Allied Solutions alike. Give us a call and we will solve the problem; that’s how we have always operated.
- Technology: Keeping up with technology and utilizing the best that the market has to offer can only be achieved by a large administrator and multi-faceted company. System enhancements are expensive but necessary to compete in the market today. Allied continues to invest time and resources into their CPI administration system, online portals for lenders, and automation services to aid with the day-to-day.
- Compliance: With data compliance and vendor due diligence being such a hot topic these days, it’s reassuring to know you have a partner that understands your need for the highest level of data security and protection of information. Allied undergoes numerous annual audits and provides comprehensive information technology and data compliance reports to fulfill all your due diligence requirements.
- Multiple Verification Methods: We utilize a variety of methods to aid with the insurance verification process. A preliminary verification occurs as soon as a loan hits our system by way of VIN. This is in addition to fielding electronic insurance verification from over 900 insurance carriers, verbal verifications by inbound or outbound calls, emailing agents/regional offices, and online carrier access.
- Member Communications: We use paper notices, texts, and/or borrower emails to effectively communicate insurance needs to members. There are several ways to provide proof of coverage with customary options like fax, mail, or call center, but the preferred method being our online member/agent portal which continues to see high success rates across the board.
- Call Center and Call Recording: With several service centers located across the United States, representatives are always available to aid members. Should a service center be impacted by weather or climate events, power outages, etc., all calls are automatically rerouted to the next closest service center. Additionally, all calls are recorded and made available via an online lender portal. This gives you peace of mind that we hold ourselves 100% accountable for maintaining professionalism and the highest level of customer service.
- Efficiency Tracking and Online Reporting: Allied and ICA understand the importance of tracking and measuring the performance of a program. Our goal is to keep force placement penetration minimal while ensuring the program remains healthy so that every claim is paid. We track every aspect of the program from inbound/outbound calls, electronic insurance verifications, documents processed, and member satisfaction rates. Tracking reports with each cycle are published weekly/biweekly (depending on your program) and available at any time for review or download.