Find out more about putting GAP into your product lineup today.
If your borrower’s vehicle is totaled in an accident or stolen and not recovered, Guaranteed Asset Protection (GAP) in most cases will pay the difference between the Actual Cash Value (ACV) of the vehicle, which is determined by the primary insurance company, and the unpaid balance of the loan. This valuable offering provides your borrowers with peace of mind, knowing their investment is fully protected.
If available in your state, GAP Advantage provides the same benefits as GAP, but includes an additional $1,000 benefit to use toward financing a replacement vehicle with your institution.
In many cases, SWBC can provide coverage for:
An SWBC representative will assist you in the step-by-step process of launching this program at your institution. Prior to the program launch, SWBC will provide your loan officers with all of the training and materials necessary to sell GAP to your borrowers. Your employees will also be trained to use UNITY®, SWBC’s proprietary quoting and cross-selling tool.
UNITY seamlessly interfaces with loan origination systems, eliminating the need to toggle between applications. This helps your loan officer save time and reduce errors when quoting combined loan payment rates. UNITY allows users to give borrowers an accurate forecast of the predicted payment with supplemental GAP coverage by instantly pre-populating payments.
SWBC will also provide the marketing support to help you promote the program both internally and externally. We offer a wide range of marketing collateral from brochures and table tents to ATM messaging and on-hold scripting, and we’ll help you build a marketing plan to ensure your success. Our internal marketing department supports your efforts to maximize program exposure to your borrowers.
SWBC representatives provide ongoing support throughout the life of the program. Whether you need additional marketing collateral, refresher training, or operational support, our team is available to assist you.
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