Our Technology - Miniter Group
Miniter Group provides web-based technology to insure bank and credit union loan portfolios while ensuring compliance.
force-placed insurance, mortgage hazard insurance, collateral protection insurance, VSI, insurance tracking, lender insurance, lender-placed insurance, bank insurance, credit union insurance
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Our Technology

Our Insurance Tracking Technology is Flexible, Efficient, and Compliant

 

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.  Here are some details on each of these systems:

Outsourcing Your Tracking to Miniter (OST)

When you choose Miniter as your lender-placed insurance tracking partner, we ensure compliance by following carefully designed and vetted processes, and employ a Borrower-CentricSM approach.  This means we treat your borrowers (or, your members, in the case of credit unions) like you treat them.

Learn More About OST to Miniter
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Write Your Own (WYO)

Our WYO solution is a web-based insurance placement system that is designed to integrate into a lender’s existing insurance tracking system workflow. WYO is an easy-to-use system that automates the placement, cancellation, billing, and compliance notifications associated with force-placing insurance.

Learn More About Our WYO Service
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Track Your Own (TYO)

If you prefer to track insurance in-house, but your information systems are not optimized for it, Miniter’s Track Your Own force-placed insurance tracking solution may be the right fit. This system provides the full functionality of our outsource insurance tracking technology in your loan servicing department.

Learn More About Our TYO Service
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Claims & Lien Holder Services

Claims service is critical to the operational efficiency of transferring collateral risk. Miniter Group has invested in state-of-the-art claims processing for force-placed hazard and flood insurance, as well as blanket VSI. In addition, we offer debt cancellation claims processing services to increase your per-claim recovery and reduce your net charge-offs.

Learn More About Our Claims & Lien Holder Services
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