by Jim Gilpin | Oct 1, 2019 | CS_Vehicle, Vehicle Solutions
Take a deep dive into VSI insurance from the eyes of a 20 year veteran who has underwritten VSI for some of the largest indirect vehicle lenders in the country. Vender Single Interest Insurance history, how it works, proper underwriting and benefits to the lender will be covered in great detail. Are you considering VSI Insurance? If so, this is a must read!
by Jim Gilpin | Jun 1, 2019 | Vehicle Solutions
Repossessions are a part of doing business for a vehicle lender. In a good economy, these credit losses can be below 20 basis points (bps), in bad economies, we have seen these credit losses exceed 200 bps. A repossessed vehicle with physical damage compounds these losses.
by Jim Gilpin | Jun 1, 2019 | Vehicle Solutions
Two of the largest indirect lenders in the country have run A/B testing between their loan servicing GAP claims processors versus Miniter Group’s GAP claims experts. In both cases, Miinter Group’s GAP claims experts exceeded the recovery targets defined in these tests.
by Jim Gilpin | Jun 1, 2019 | Vehicle Solutions
This article provides a brief explanation that compares a Collateral Protection Insurance – CPI Insurance program to a Blanket Vendor Single Interest Insurance Program -VSI Insurance.
by Jim Gilpin | May 10, 2019 | Vehicle Solutions
Prior to 2014, our claims data has shown Vendor Single Interest Insurance’s physical damage losses accounted for 90.5% of collateral losses, while skip losses made up the remaining 9.5%. However, Vendor Single Interest Insurance skip claims payments now represent 53 percent of total VSI Insurance payments up an incredible 550 percent since 2015. If you are experiencing higher than normal skips, this article will provide industry skip tracing data from on of the largest Vendor Single Interest Insurance providers in the country.