Total-loss claim processes are often inefficient, as claim handlers must manually verify lienholder information and obtain payoff data, which delays settlement payments to policyholders. Lien Check is a new Verisk solution that digitally connects lenders and insurers to provide claim handlers with critical lien holder data such as payoff amounts, title, and registered owner information. The tool automates time-consuming manual processes to streamline the total-loss process.
This presentation will provide a thorough overview of Lien Check and explain its benefits, including:
- Shortened cycle times for total loss claims
- Reduced loss adjustment expenses
- Improved customer satisfaction and service time
Who Should Watch:
Claim directors and managers; Claim adjusters; Third-party administrators; Lenders
Presentation Date:
Thursday, May 19, 2022
Speaker:
Scott Husmann
Product Owner
Data Solutions, Verisk