Miniter Group uses outsource services and custom underwritten insurance policies to transfer collateral risk and recover funds to help improve the profitability of our lender’s vehicle portfolios.
Miniter Group has provided VSI Insurance, CPI Insurance, skip tracing, and lien-holder outsource services for over 20 years. We are the largest provider of VSI Insurance and the only VSI provider with in-house skip tracing.
The tabs below provide detailed information about the lender vehicle solutions we offer. Maximum benefit can be realized using VSI Insurance or Collateral Protections Insurance in conjunction with one or more of our outsource recovery services.
Miniter group delivers VSI Insurance with a unique approach that enables rate stability to the lender in both good and bad economic cycles. Using this technique, one of our lenders has maintained the same low VSI rate since 2003 and consistently achieves annual net charge-off reductions from 10% to 18%. To learn more about rate stability, read Miniter’s Complete Guide to VSI Insurance.
Blanket VSI involves charging a small premium to the borrower at loan origination, which can be excluded from the APR in most states. The premium is then used to pay for collateral and skip losses that occur after repossession. Miniter group delivers our blanket VSI programs with a unique approach that ensures rate stability to the lender in both good and bad economic cycles.
For more details read the article “Miniter Group’s Complete Guide to VSI Insurance”.
CPI Insurance is a Lender-Placed Insurance product that works with Miniter Group’s Borrower-CentricSM Insurance Tracking system.
Collateral Protection Insurance Policies are dual interest policies, meaning that both the lender and the borrower will have coverage under the policy.
Learn more by reading the article: “A Detailed Review of VSI Insurance vs CPI Insurance”
With the unprecedented increase in vehicle skips since 2015, Miniter Investigations is rapidly expanding our skip tracing team to service all lenders outsider of our VSI & CPI insurance products.
Learn more by reading the article: “The Changing Landscape of Vehicle Portfolio Insurance“
Dealer GAP contracts are debt cancellation contracts, not insurance policies. When the lender agrees to accept these contracts as part of the vehicle financing, the lender is agreeing to cancel any GAP debt if the borrower’s car is a total loss. The lender must file a claim with the dealer’s GAP provider to be reimbursed for the debt that was forgiven.
Miniter Group has years of expertise working with hundreds of dealer GAP providers, which enables us to get the best possible settlement of your GAP claim.
Learn more by reading the article: “An Insiders View to GAP Claims Payments”
When a lender receives a repossession condition report with physical damage, the loan servicing department may not have the tools to identify the borrower’s insurance company, or the expertise to maximize claims payments.
Insurance companies know that bankers are not insurance experts. In our experience, they tend to “deny first” once they know they are dealing with a banker. They will quote some detail of the borrower’s insurance policy that the lender has neither the time nor the expertise to research. Without the proper expertise to respond to the denial, a legitimate claim payment may be missed.
Outsourcing your Lien-Holder Claims to Miniter will put our insurance experts to work for you. We have tools to identify your borrower’s last known insurance provider, and we will work with these insurance companies to make sure they pay all legitimate lien-holder claims.
Learn what makes modern insurance tracking different, and how it can change loan servicing.
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