SWBC’s Collateral Protection Insurance (CPI) program gives you choices. Like others, we’ll track your borrowers’ auto insurance, communicate with your borrowers and their insurance companies to verify insurance status, and place insurance, if necessary. Yet, we do more.
Not only do we work with multiple carriers to give you choices on rates and plans, but we also use the most advanced technology, creating a better member and credit union experience, while significantly improving cash flow and operational efficiency.
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If you’re making changes to your existing CPI program, let us demonstrate the SWBC difference. All it takes is a copy of your current declarations page to get started. If you currently self-insure your portfolio, we can also help you analyze the benefits of implementing a CPI program. To request a consultation, call your SWBC representative or 303.663.8930, or use the link to send us a message
- We use the most innovative predictive insurance model to pinpoint exposures with an up to 87% confidence rate. Borrower concerns over false placement are dramatically reduced.
- We let you pay the annual premium in monthly installments to increase cash flow, eliminate partial refunds, and reduce member complaints and loan deficiency balances.
- We provide alternative communication channels, such as email, text, and automated messaging, to reach borrowers in a convenient and effective way.
- We offer multiple insurance verification channels for fast, efficient updates. For example, we accept verbal verifications from agents, eliminating the need for borrowers to provide paper copies of their policies. Borrowers may also update their own information via our exclusive site, www.imcovered.com
- Our single-source claims process ensures the fastest claims turnaround, with 80% being paid in less than 72 hours and average resolution timeframes of fewer than seven days.
- We allow you to leverage the technology of your choice to manage your CPI program – your core processor, SWBC’s FocusNet portal, and the Akcelerant™ collections platform.
Reliable | Strong | Stable
- We’re the 13th largest privately-held insurance agency in the nation, as ranked by the Insurance Journal
- CPI has been our core business for more than 33 years, and we created the industry’s first service level benchmarks
- We’ve built a state-of-the-art service center to track and handle borrower communications for more than 4 million loans at hundreds of institutions nationwide
- We provide the applications and technology to help you manage your program
- Our strategic partnership with Akcelerant ensures the highest integration and greatest CPI functionality and lets you get started quickly and avoid connector fees
- We monitor the stability of our insurance carriers to ensure reliable and consistent coverage for our clients
- We meet all NCUA due diligence requirements, including SAS 70 Level II Certification
- We can provide service for portfolios of all sizes, and together with our partner, Akcelerant™, we serve 1 out of every 2 credit unions with over $500 million in assets
If you'd like to learn more about the SWBC CPI Program, please contact SWBC at 303.663.8930 or CPI@swbc.com, or register below to attend one of our upcoming Webinars.
In these 30-minute sessions, you'll learn more about the exceptional features and benefits of the SWBC CPI Program along with more information about SWBC.
Please click the link below to view the schedule and register for an event.