SWBC – Loss Mitigation Manage SWBC Loss Mitigation through Temenos. Integrated to the Temenos LMS Collection and Recovery Module swbc logo img The SWBC Loss Mitigation connector delivers a unique suite of insurance and collection services within Temenos LMS Collection, including service requests for field contact work, asset recovery, repossession, remarketing with online or live auction sales, as well as submission and tracking of collateral protection claims. Key Features Easily Initiate and Track Requests for Loss Mitigation Services Account-level screens, designed specifically to monitor loss mitigation service requests, allow for the creation, tracking and management of requests within a single system. Automate Batch Orders The SWBC Loss Mitigation connector provides functionality to automatically take action on accounts meeting specific criteria. Through powerful configuration controls, you can configure your environment to automatically submit repossession orders. Conveniently Track Claim Status Never lose track of a claim again! The system provides a virtual claim file for research and quality control. View appraisals, digital images of the damaged collateral, ACV, and damage estimate for an up-to-the-minute review of your claim directly within Temenos LMS Collection. Benefits Simplify Processes and Communication Create a routine audit trail to eliminate errors, reduce compliance exposure, and streamline your communication. Build Strategies that Suit Your Risk Needs Leveraging industry-leading technology and best-in-class service providers allows you to create your own customized suite of services. Build a strategy tailored to you, starting with field contact work where a personal visit is made to your borrower in order to re-establish contact with your institution, then moving to repossession and skip with either a direct agent model or by utilizing one of our preferred forwarding providers – ultimately getting to the point where you sell the collateral online or through live auctions. Resources SWBC – Loss Mitigation Download data sheet Allied CPI Connector Download data sheet Request a Demo Request a Demo Eliminate the Need for Multiple Programs Eliminate time spent maneuvering between multiple screens and programs. All the necessary tools to create, update and submit insurance requests can be found in the system. Seamless Transfer of Loan File Data The SWBC Insurance connector enables the secure download of your loan file on a daily basis for both auto and mortgage portfolios. Daily updates such as address changes, paid-off loans, refinances, bankruptcy and other collection flags are captured faster, resulting in more accurate borrower communication. You control the transmission frequency and schedule, and you can change or add collateral codes without IT involvement. Utilize one secure communication channel to facilitate both collection and collateral insurance tracking requirements, and at the same time, eliminate the need for an external loan file with updates to SWBC. Real-time View of Loss Mitigation Information Information regarding your loss mitigation service requests is received in real time, allowing you to make more informed decisions. All comments, attachments, notes, claim statuses, etc. are housed within the Notes section of the connector and in the workflow history, giving you a complete and up-to-date view of all the work being performed on the account. In addition, you’ll be able to manage offers and bid on your remarketing collateral right from the connector. Never Miss a Step As updates occur to service requests, alert emails are sent automatically. This prompts staff to take action, utilizing a pre-defined business strategy to move the service request from field contact to repossession, to claim initiation and settlement, and to remarketing. In addition, this technology assists you with enhanced remarketing features that allow you to set your floor price and manage bids and offers. Additional CPI-Related Fields and Data Integration Pertinent CPI data is uploaded and housed within the system for easy creation of workflows and reports. Eliminate the Need for Multiple Programs Eliminate time spent maneuvering between multiple screens and programs. All the necessary tools to initiate and track SWBC Loss Mitigation service requests can be found in the platform. Stay One Step Ahead All loss mitigation information is displayed in real time, eliminating errors made due to inaccurate or outdated information. In addition, standardized workflows ensure the collection process is done exactly as you have defined every time.