Outsourced Insurance Tracking (OST)

We Protect Your Loan’s Collateral

Our agents are thoroughly trained to assist your borrower with the goal of helping them avoid the expense and hassle of lender-placed insurance and maintain their own insurance instead.  Our Borrower-CentricSM business model does not rely on forced-placed premiums to pay the bills, so we truly focus on helping your borrower obtain and maintain the most adequate insurance, ensuring both you and your borrower are protected.

We utilize our Borrower-CentricSM services on your Residential, Commercial, Flood, Contents, Escrow, Multi-Collateral, Vehicle and Condominium loans.  We have developed our insurance tracking software to handle the unique challenges associated with each of these loan types.
Utilizing a combination of proprietary borrower-based pricing, highly automated operational technology, and extensive training of our agents, we will deliver an insurance tracking solution that will satisfy your most rigorous requirements for years to come.

We are Borrower-Centric

When a borrower with insufficient or otherwise problematic coverage on their home or auto policy receives a letter stating he or she is about to be force-placed, it is always unpleasant. If you have ever taken a call from an irate borrower inquiring about such letter, you know this too well. Our aim is to minimize this unpleasantness.
Miniter Group’s Borrower-Centric Insurance Tracking works directly with the borrower’s agent/broker to resolve any non-conforming coverage issues before the existing policy expires. We handle 17 typical coverage issues, such as wrong lienholder address or a high deductible, prior to the existing policy expiration. Most of the time, the borrower will be unaware that we are working with their broker.
As a result, we send 75% less letters, which means fewer irate calls from your borrowers.  To learn more regarding our Borrower-Centric approach, download our white paper “An Introduction to Borrower-Centric Insurance Tracking.”

A Sign Reads "Borrower Centric" Behind Two Miniter Employees
Man Inspects Document with Magnifying Glass
Compliant Outbound Letters

All outbound insurance mail is handled by Miniter Group. We have invested in state-of-the-art outbound mail technology to provide low cost, accurate, and verifiable mail to your borrowers. All outbound letter formats are designed to be Dodd-Frank, NFIP and NAIC Model Act compliant. Letters can be customized by the lender. Outbound letters include: First Notice, Final Notice, Notice of Insurance (NOI), and cancellation letters.

Automated Premium Invoicing

Two invoicing options are available. The lender can be invoiced one time for the annual policy premium, or the annual premium can be billed monthly. Monthly invoices are based on a net calculation of new premium and unearned premium refunds, which avoids large premium refunds when the borrower obtains their own insurance. Invoices are prepared on the first of the following month and can be printed directly from the website.

Woman Prepares Invoice
Call Center Employee at Work
Escrow Servicing

With the implementation of The Biggert-Waters Flood Insurance Reform Act of 2012, lenders are now required to escrow insurance flood premiums. For loan operations, the collection of the borrower’s insurance policy invoice, for both flood and hazard, is time consuming. Miniter Group’s escrow service is designed to efficiently and accurately present these invoices for payment by the lender through the use of the lender’s loan servicing system.

Contact Us to Learn More

We’re here to help you protect your assets and loan portfolio while providing better service to your customers. To learn more about outsourcing your insurance tracking, reach out to us at 781-982-3100 or fill out our contact form.