This proprietary model uses several key factors to predict, with an 85–90% confidence rate, if a borrower will or will not proactively resolve an insurance exposure identified through the tracking process. Using this data, we are able to handle the highest risk exposures, or those that most likely do not actually have insurance, separately from those that most likely do.
- Reduces false placements and complaints over insurance verification letter activity.
- Reduces the time from impairment to resolution by as much as 30%. The overall reduction in false placement also reduces refund activity by up to 45%.
- Eliminates discriminatory interpretation of the Note and Security Agreement
Document Management Software built on the Cognasys ES Engine
ES reliably emulates a human by reading, extracting, and processing data through integrated imaging and OCR capabilities and is able to make decisions without the use of templates. It automates complex insurance document-related business processes with flexible loan and policy matching logic to update customer insurance status, ensuring the accuracy of correspondence and reducing customer frustration.
- Integrated quality control increases processing accuracy
- Reduced processing costs translate into lower premium rates
The Service Metrics dashboard lets us—and you—monitor and analyze all facets of our business performance, including speed of processing documents and the responsiveness of our call center. Continuous monitoring of business performance enables SWBC to meet and exceed our service level guarantees.
The software reports across different technology platforms to provide your organization with information and insight. Built-in reports focus on time series activity monitoring and business outcome analysis.
- Provides your service teams with a real-time view of key performance indicators for your account
- Improves borrower satisfaction through timely handling of calls and processing of all outstanding insurance documents, faxes, and other transactions before letter production to minimize erroneous correspondence and false placement.