Streamline changes in insurance policies, policy updates, and policy cancellations by automating documentation that must be accepted, routed, interpreted, and associated with the right mortgage.
Insurance companies receive numerous documents daily from various carriers stating insurance information updates. This information must be associated with the right mortgage account, but because these documents are unstructured, it is challenging to stay on top of this task.
The traditional validation process is complex and labor-intensive, requiring considerable manpower to manually complete. This high degree of manual activity increases the risk of human error, affecting customer experience and regulatory compliance.
Our Robotic Workforce simplifies this paper-intensive process. By automating Mortgage Insurance Updates you can:
Monitor inbound channels for incoming information about new policies, policy updates or policy cancellations
Sort updates by type: new, modification or cancellation Match inbound letters with existing policy and account information
Alert teams if data validation errors occur that require follow–up Extract critical insurance information from new documents
Stort updated insurance information and update the account profile with the latest data
Regularly check existing mortgage accounts for missing or outdated insurance documentation
Speed up applicants' identity verification through submitted documentation and data. Streamline Customer Identification Program (CIP) requirements for faster customer on-boarding.
Mortgage Income Verification:
Manage spikes in mortgage activities by automating the tedious income verification process and improve your customer satisfaction and retention.
Mortgage Insurance Updates:
Streamline changes in insurance policies, policy updates, and policy cancellations by automating documentation that must be accepted, routed, interpreted, and associated with the right.
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