DIMONT Auto Insurance Verification Service Updated

DIMONT, a Dallas-based leading provider of insurance administration and loan services, has recently announced the availability of its new Insurance Verification Service. The new verification service makes the whole authentication process a lot quicker and more effective as dealers and auto finance companies verify legit insurance coverage on customers through the implementation of proprietary insurance monitoring technology.

The service will help reduce fraud and risk by getting electronic verification in about an hour – replacing the usual manual process utilized by most companies, which may take several days.  The new verification service streamlines the verification process for all the lenders helping them to finance quicker.  DIMONT says they look forward to continuing to alleviate fraud and risk for all their clients and assist them with their updated services.

Presently, the insurance verification process is a bit outdated, which includes lenders giving a call to insurers to verify the whole coverage process.  The new data-driven service is both cost-effective and automated. Technology is carefully implemented to consolidate insurance information, also approving collateral protection in case of a repossession claim.   

It’s important to alleviate losses and increase recoveries. DIMONT’s new insurance eligibility verification process provides solutions and integrated technology to deliver the success customers are looking for through enhancing insurance monitoring, verification, total loss claims, and repossession claims.  

Insurance verification is vital to any practice. Some companies may prefer a more traditional approach because perhaps they doubt the new system’s reliability – it’s all a matter of perspective. More sophisticated verification tools, always keeping the basic protocols, can automate much of the tedious process and help your practice ensure payment promptly, also leaving your customers satisfied with the punctuality and quality of the services offered.

DIMONT is a leading provider of insurance claims management for both auto lenders and mortgage. They have so far recovered $2 billion in claims for their customers. They care about people and encourage development.

In like manner, most states have some type of insurance verification.  Currently, many states use online motor vehicle insurance verification systems to find out whether a vehicle is insured – taking it a step further. Several state agencies are involved in the verification process. The system requires insurance companies to keep their database of insured motorist up to date, that way the police has quick access to this crucial information through the internet if a motorist is stopped for a traffic violation.  In states, without databases, all drivers are mailed notwithstanding their insurance status.

Auto insurance verification programs have proven to be very efficient. As long as there is fraud, states and companies like DIMONT will keep finding new ways to catch violators and eliminate gaps. Technology plays a vital role in reducing the risk of fraud.  

  • https://www.businesswire.com/news/home/20191021005375/en/DIMONT-Announces-New-Insurance-Verification-Service-Mitigate