Auto Risk Management

Our auto tracking solution provides you with the expert risk management solutions you deserve. By leveraging National General’s auto risk management program, you will know if your customers are maintaining their insurance coverage, and you will be able to recover claims with speed and efficiency. National General protects your auto portfolio with three powerful tools:


Collateral protection insurance (CPI)

We offer comprehensive and collision coverage in the event that your customers do not have adequate coverage. We keep premium rates as low as possible in an effort to reduce your customers' financial hardship. In addition, coverage can be provided on other collateral in your portfolio, including motorcycles, recreational vehicles and boats.


Insurance tracking

We track and monitor customer adherence to your insurance requirements with our proprietary system. We achieve this through data extraction that historically has been more than 99% accurate. We initiate reminder notices and calls and encourage your customers to provide and maintain their own insurance coverage to assist in keeping the number of uninsured accounts as low as possible. We also offer flexible options which allow you to customize your insurance follow-up program in the event your customers do not provide adequate proof of insurance.


Guaranteed asset protection (GAP)

This program provides coverage for the difference between the Actual Cash Value and the Outstanding Balance in the event of a "total loss" of a vehicle securing a loan agreement. GAP is typically sold to the borrower as a consumer program at the origination of the loan. The other option is blanket coverage for all loans in your portfolio.


RepoSource®

In addition to the auto risk mitigation program, which features insurance tracking and collateral protection insurance, we also offer the RepoSource* program, which helps our clients collect insurance recoveries from carriers on their repossessed vehicles. Since its launch, RepoSource has helped our clients recover more than $90 million, one claim at a time.


With RepoSource, you have access to a powerful platform that expedites the filing and payment of both collateral protection insurance (CPI) and claims from outside carriers, with minimal involvement required by you and your staff. RepoSource can give you substantial results, including:


  • Reduced processing time – Integration with our clients’ vendors and the National General tracking system enables us to inspect vehicles within days of their arrival at the auction lot.
  • Faster claims filing – Because we can easily identify the carrier that insured the collateral, a claim can be filed and insurance dollars recovered faster.
  • Improved claims recoveries when we file claims on your behalf.
  • Decreased overall charge-offs.

 

*Provided by Mortgage & Auto Solutions, Inc. (MASI), a subsidiary of National General. MASI is a licensed public adjuster that provides services to lenders. RepoSource offers appraisal, claims adjustment and filing services for others for insurance claims with respect to vehicles.