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Today’s Overview. SWBC – Commitment, Strength and Reliability Collateral Protection Insurance – The Starting Point AutoPilot - Delivering Services Through Software A complete Loan Risk Management Solution.....”Cradle to Grave” Leveraging Technology to Improve Processes and Efficiency
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Today’s Overview • SWBC – Commitment, Strength and Reliability • Collateral Protection Insurance – The Starting Point • AutoPilot - Delivering Services Through Software • A complete Loan Risk Management Solution.....”Cradle to Grave” • Leveraging Technology to Improve Processes and Efficiency • An Integrated Process Solution
Getting Started in 1976 – literally out of the trunk of a car! Leadership provided by Gary Dudley and Charlie Amato. Management tenure – 21 senior management team members, 50% with SWBC for 20 years. 21 sales representatives, average tenure is 18 years. National financial services company with core business centered around tracking and loan risk management services. Supports the Credit Union industry and local community. Customer Service - Primary Focus. “Customer service is what everything’s about when you’re in the service business like us.” – Gary Dudley Technology Commitment – to support and advance Customer Service options. “We use to be in the insurance business. Now we’re a technology company that happens to sell insurance.” – Charlie Amato Committed to the Credit Union Industry…. Then
34 years of experience in serving the credit union industry. Consistent growth in terms of new credit union customers. More than 800 Credit Union Partners … approximately 400 have implemented AutoPilot solutions. Strong emphasis on philanthropy and giving back to the credit union industry. Customer Service and Technology – Still Primary Focus Commitment to high tech and high touch! Accomplished by consulting with clients on a regular basis. Change is our Middle Name! “Most tracking companies have done very little over the past several years to develop a “different mouse trap”. At SWBC we’ve been hard at work to deliver to the market place options that create a better member and Credit Union experience. We’re out to change the image of collateral tracking solutions. We recognize that collateral tracking is a key component of the total risk management picture. We understand that our clients want, and quite frankly the industry needs, a different approach to tracking services.” – Brad Young, VP of Strategic Operations Committed to the Credit Union Industry…. Now
Collateral Protection Insurance Services An SWBC Core Competency SWBC facilitates all administrative and technology aspects of our AutoPilot programs. Pricing and Underwriting Claim Adjustment and Settlement Premium Accounting and Taxes Technology development and maintenance Compliance and Legal Customer Service Collections Asset Recovery / Disposal Skip Tracing Remarketing
We track nearly 4M auto and mortgage loans for insurance compliance Our distribution centers process over 20,000 insurance documents daily SWBC wrote $665M in lender placed insurance premium in 2009 We adjusted and paid approximately 30,000 CPI claims in 2009 We realized nearly $3M in post skip claim payment recoveries in 2009 Strength and Reliability
Strategic Partnership OfferingAutoPilot “Delivering Services Through Software”
The Collection and Risk Management Industry Challenge AutoPilot Engaged With Loss Mitigation - seamless integration drives portfolio profitability Today’s risk management model - cumbersome and inefficient
Concept basis Improved collections and loss mitigation directly impacts a CPI program by reducing claims. Fewer claims = lower premium rate = reduces voluntary repossessions due solely to the addition of CPI/payment increase. Insurance by definition is a “reactive” risk management process. A cost effective technology solution that: Improves collections efficiencies (do more with less), Reduces delinquency (comprehensive collections assistance), Simplifies payment collections (automated and available through various member convenient venues), Reduces CPI administration, Integrates all risk functions into one platform, The Argument for AutoPilot
All these services and functions are interconnected….. So why look at them individually when they can be aggregated? The Argument for AutoPilot
AutoPilot Product and Services AutoPilot Engaged
Insurance Compliance and Tracking - Collateral and Mortgage Protection Asset Recovery and Disposal – facilitates the consignment of repossession, skip and remarketing services Legal Services – outsourced legal services related to collections efforts Payment Services – utilize an electronic cash management tool to process payments in first party environment Payment Reminder Services – facilitates conversion of early stage delinquency in first party environment Collections – facilitates payment, workout and resolution of late stage delinquency Account Services – supports and complements specialized member service and marketing needs AutoPilot Services A Diversified Solution Menu
Integrate entire risk management and collections team onto single technology platform. Connect directly with over 600 repossession agents/ appraisers, 200 attorneys and 150 Manheim / Adesa / Independent auction facilities. Workflows provide for uniform process control. Workflow Queues utilized to ensure nothing falls through the cracks Real Time Dashboards keep you up to date on the entire collection and loss mitigation cycle - “what gets measured gets done.” A single desk top to manage the collection process from cradle to grave – repossession, legal, skip, remarketing, CPI claims, insurance tracking, etc. The Benefits of AutoPilot
Provides complete access to all insurance tracking information within one desktop to provide a more complete picture to the collection team. Real time presentment of data provides complete snapshot allowing for a more informed risk management decision. Insurance status including, Agent and Insurance Company information, CPI Policy status and accounting. Insurance tracking history to include; customer service notes, scanned insurance documents / faxes, web updates, . .pdf versions of letters and CPI Policy and converted .wav files of all recorded inbound and outbound phone calls to include those of your on-site service representative. Insurance Compliance and Monitoring
Automated claims submission. Single settlement approach for all claims. SWBC provides a virtual claim file for research and quality control. Appraisals, Digital images of damaged collateral, ACV and Damage estimates Minimal paperwork required on most claims as data pre-filled from the database. Integrates within Loss Mitigation to further streamline and expedite claim process by connecting repossession, skip, remarketing and claim settlement from one desk top. Most repossession claims submitted using this technology can be settled within 1 to 2 business days upon receipt of the appraisal. CPI Claims Management
Create customized collection strategies that define processes around; timing and circumstances that might drive a repossession consignment; automated SWBC CPI or other claim submission upon recovery of collateral – no claims missed; triggers for potential legal work, such as a Replevin, that are required to complete the asset recovery steps; seamless conversion from repossession to an investigation required to resolve un-locatable collateral and/or borrower (i.e. “Skip” or legal locate); and final transition to remarketing efforts. Loss Mitigation
Provides a single desktop application within to: control order entry point for each service; manage the queues and workflow of collection services as normal; communicate with agent, attorney or auction through one application (i.e. new information, holds, cancels, etc.); framework captures agent, attorney or auction notes and documents for each case; single application documents audit trail from initial delinquency to asset disposal. Loss Mitigation
AutoPilot Service Metrics 2009 Monthly Loss Mitigation Assignments
Service Highlights Electronic cash management tool (ECM) utilized as a payment solution and promise fulfillment Checking, savings, credit, pinless debit payment options Live, Web and IVR payment channels Same day settlement of proceeds Automated posting to loan level for both ACH and Credit / Debit transactions Free up personnel from routine loan payment fulfillment. Electronic cash management tool (ECM) utilized as a payment solution and promise fulfillment Provide additional automated options for member to fulfill payment in timely manner Live Member Service, and Phone / Web Self Serve options available Extended hours solution (i.e. 7AM to 11PM) Standard ECM transaction fees along with per call pricing structure Payment Services
Service Highlights Enables outsourced evening and weekend collection calls for delinquent loans between 0 and 45 days. Primary focus is to contact early, obtain a payment and prevent the account from progressing to a seriously delinquent status. After hours focus (i.e. 3PM to 11PM) High touch live service achieves excellent overall conversion Provides multiple payment channels for resolution - Transfer, checking, savings, credit, pin less debit Electronic cash management tool (ECM) utilized as a payment solution and promise fulfillment Provides multiple communication approaches for borrower Text messaging, Email messaging, Automated voice messaging Payment Reminder Services
Service Highlights Enables outsourced collections in either 1st or 3rd party environment. Primary objective is to contact early, obtain a payment, prevent the account from progressing in to delinquent status, and increasing recovery of funds. Extended hours solution (i.e. 7AM to 11PM) Provides multiple payment channels for resolution - Transfer, checking, savings, credit, pin less debit Electronic cash management tool (ECM) utilized as a payment solution and promise fulfillment In-house skip tracing capabilities Resources to process repossessions, legal and remarketing services Per account, or contingency pricing models available Collections
A Centralized Software Platform SWBC’s browser based application No seat limitations Provides user a single web portal to all AutoPilot products and services Collateral and Mortgage tracking Loss Mitigation ECM Payment Services Payment Reminder Services Collections Account Services
A Centralized Software Platform The #1 third party collections platform in the Credit Union marketplace today. The concept of a “connected” Framework integrates key business solutions eliminating the need to toggle between multiple software applications to complete risk management functions. SWBC is a partner and equity owner of Akcelerant Software Business partner since 2006 SWBC / Akcelerant Technology partnership was created to improve efficiencies in processes and enhance communication among employees involved with our risk management solutions
