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Insurance Overview

Insurance Overview

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Insurance Overview

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  1. Insurance Overview

  2. Introduction • The Insurance team is responsible for handling insurance CLAIMS: Total Loss Repairs (Physical Damage) GAP Credit Life

  3. What should a Servicing associate do with an insurance call? • The Servicing associate must process the PTIN (Potential Insurance activity code) to notify the Insurance team of the account. • After processing the PTIN activity code, if further information is needed, the call can be transferred to the Insurance Team via My Supervisor.

  4. What is PTIN?? • PTIN-Potential Insurance Activity Code. • It’s an activity code to flag an account when an insurance claim is involved. • Total Loss Claim • Repairs (Physical Damage) • The PTIN is a mirror queue, so once the PTIN activity code is processed the account will reside in 2 locations until the claim has been verified. • The original Servicing list • List 3091 PTIN-Potential Insurance Activity Code.

  5. Needed Information for PTIN • Insurance Company Name • Insurance Phone Number • Insurance Contact • Insurance Claim Number • Insurance Policy Number • Unit Location (Company name, address & phone number)

  6. PTIN Activity Code

  7. Proof of Insurance • DO NOT transfer calls regarding Proof of Insurance to the Insurance Team OR advise the customer to fax the information to Account Services Unit. • Fax to Van Wagenen: 1- 855-889-6113 • Toll Free Number: 1-800-562-6143 • Hours of Operation are: Monday through Friday: 7 am – 9 pm CST Saturday: 7am - 4pm CST

  8. Total Loss Claim-Common Questions • My insurance company advised me not to continue making payments or my vehicle is a total loss and I don’t have to make any more payments. • Customer must continue to make regular monthly payments until the Insurance check is posted. • I thought my insurance company is paying off the vehicle and why do I still have a balance left? • Insurance company is ONLY paying the Actual Cash Value (ACV) of the vehicle. • Customer is still responsible for deficiency balance if it’s not paid in full by insurance company (ies).

  9. Total Loss Claim-Common Questions • Why is my account still being reported to credit bureaus? • Account will continue to be reported to credit bureaus until it’s paid in full. • I thought GAP was going to payoff my account. • Not all GAP policy is 100%. • GAP will not cover any: • Late Payments • Missed Payments • Deferments • Due Date Changes

  10. Repair Claim - Common Questions • I received an insurance repair check from my insurance company, what do I need to do with it? • Endorse the check and forward the insurance company’s estimate and/or the body shop invoice : • to the following address: Santander Consumer USA Attn: Accounting 5201 Rufe Snow Dr. Suite 400 North Richland Hills, TX 76180-6036 • Fax documents to: 214-540-5692

  11. Repair Claim-Common Questions • Are you going to endorse the check and send it back to me right away? • NO: SCUSA will not endorse the insurance check and/or mail it to body shop UNTIL proof of repairs is provided. • Can the repair check be applied as regular payments. • NO • All insurance proceeds will be applied towards principal balance only.

  12. Repair Claim-Common Questions • How long does it take for the shop to be paid? • It all depends on the promptness of the customer/repair shop. • How long does it take to get my insurance proceed back to body shop? • As soon as the Repair associate receives all documentation they can have the repair check endorsed and sent via UPS overnight delivery the same day • Can I bring up check to SCUSA to get it endorsed? • NO, for security purposes that’s not allowed.

  13. Repair Claim-Common Questions • Do I need to continue making payments? • YES: The account will continue to report to the credit bureau as normal. • Collection activity will resume as normal to reduce delinquency. • In most cases, the check will not be released if the account is past due.

  14. Insurance Contacts • Insurance Managers • Carlo Tolentino • 817-605-5372 • Claudia Flanagan • 817-605-4830 • Sandra Kay Kirkpatrick • 817-605-4932 • Insurance Numbers • 1-800-215-6922 option 2 • Extension= 8164 • Email • @Loss Mit: Total Loss/Repairs/Gap • Fax • Total Loss = 214-540-5553 • Repairs = 214-540-5692

  15. If there is any doubt whether or not an account has or is an insurance claim, please transfer the call to the Insurance Department! Thank you! Insurance Department