Miniter Group invests over $500,000 per year in research & development of our delivery technologies. We offer state-of-the-art, web-based solutions to enable transferring collateral risk from your loan portfolios to our custom-designed lender insurance policies.
When evaluating your collateral risk program and the vendor who delivers it, you should look at the total operational cost to implement your risk transfer strategy. We call this the “total applied cost”. Some of these costs include:
- What do we pay in annual premium?
- How much insurance premium do we pay that is not collected from borrowers?
- What is our FTE cost to support these programs?
- What is the NIE expense to re-amortize loans due to false placements?
- Are billing and collection procedures efficient, or are there any unnecessary costs?
- Have there been losses that the risk transfer program did not cover?
- What does it cost to manage this vendor relationship?
Miniter’s R&D efforts are focused on reducing or eliminating the NIE expense mentioned above. We pro-actively solicit process-improvement suggestions from our lenders and implement them every month. This is how our Borrower-CentricSM approach was developed. Listening to our customers helps us change the way lenders look at collateral risk transfer, one lender at a time.
Our core software systems include Outsource Insurance Tracking (OST), Write-Your-Own insurance placement (WYO), Track-Your-Own (TYO) in-house insurance tracking, and our Claims systems for Mortgage and Vehicle insurance claims. For more details on these systems please click below.