The CV-Exchange® loss payee and mortgagee notifications service will streamline your process for notifying loss payees of policy changes affecting their collateral.
Loss payee and mortgagee notifications can be complex and expensive. Incomplete loss payee information or out-of-date mailing addresses result in significant amounts of returned mail. Using your staff to process returned mail is expensive and time-consuming — especially since information changes constantly throughout the life cycle of an insurance policy.
Now you can choose a comprehensive electronic-processing solution.
CV-Exchange uses a sophisticated and unique process to correct data automatically. The service performs several error-detection and correction operations to:
CV-Exchange uses multiple databases and sophisticated match technology to perform its error-detection and correction operations. The service then sends “cleansed” addresses through electronic data interchange (EDI) or through the U.S. Postal Service to the appropriate lender or tracking agent.
You’ll transfer data securely and electronically to CV-Exchange and get immediate, measurable results. To document notices, the service archives a “proof of mailing” for notifications sent through electronic delivery or through a U.S. Postal Service receipt.