Verification as a Service, our innovative lender solution, streamlines insurance verification
Lenders and insurers spend countless hours communicating with each other, but they still have no common language for key information identifiers such as loan, policy, and claim numbers. The process of moving critical data elements can be time-consuming and expensive.
CV-VaaS™ is here to help streamline insurance verification. It’s one part of the full CV Services suite of compliance and lienholder-insurer communication solutions.
Lienholder-verification processes can be manual and inefficient; some insurers report 10% of inbound contact comes from lenders.1
Key identifiers that connect information—loan, policy, and claim numbers—are different. And there’s been no aggregate source of critical data points—until now.
Learn more about the efficiency gains achieved through utilizing Verisk’s innovative Coverage Verifier automated compliance solutions. Get off the reporting treadmill using a single data feed. Our services help you remain compliant while optimizing your spend and streamlining your verification workflow.
When a vehicle is deemed a total loss, it can take days or weeks for the auto insurers to notify and pay the lienholder.Read the article
Verisk is rolling out CV-VaaS (Verification as a Service) to connect key information between lenders and insurers via a new contributory database.Read the article