Ohio-based Loan Protector Insurance Services, LLC partners with DIMONT to provide innovation to the marketplace in the Loss Draft space
DALLAS, June 20, 2018 – DIMONT, the largest provider of insurance claims recovery and collateral loss mitigation services for more than 22 years, confirmed today it will combine efforts with Cleveland, Ohio-based Loan Protector, a provider of lender placed insurance, to provide loss draft processing services for Loan Protector’s mortgage client base.
DIMONT’s Loss Drafts service combines inspection reviews; repair processes; the company’s best practices for dealing with insurance claims developed over the past 20 years and a flexible and collaborative web portal allowing borrowers, servicers and DIMONT personnel to upload claims-related documents and share case status information electronically. DIMONT manages the service and allows servicers to focus on their customers rather than the complicated claims process. The service provides real-time visibility of the loss draft status, a complete audit trail of all uploaded documents and event tracking. Faster claims resolutions are achieved through an automated to-do list and alerts sent to DIMONT’s claims staff.
“We can see the benefit this disruptive solution provides to our clients through utilizing the innovative, collaborative portal. It will provide visibility and oversight management to our clients and enables their customer to fast track repairs leading to accelerated funds disbursement and overall loss resolution,” said Dennis Swit, CEO Loan Protector. “This is just another step we are taking to partner with the leaders in our industry which allows us focus on what we do best, and that is to create the best insurance experience we can for our clients and their customers”.
“Our Loss Drafts service takes the burden of dealing with claims off the shoulders of mortgage servicers who want to stay focused on serving their customers,” said Denis Brosnan, DIMONT president and CEO. “This service is important because it allows the mortgagee to ensure an effective claims process — that the remedial efforts are monitored, repairs are made using the disbursed funds and the collateral is protected.”
Founded in 1996, Dallas-based DIMONT is one of the largest providers of insurance claims and collateral loss mitigation services to the residential mortgage and auto lending industries in the United States. Additional information is available at www.dimont.com.
About Loan Protector Insurance Services, LLC
Established in 1978 and headquartered in Cleveland, Ohio, Loan Protector has built a reputation as an industry leader in providing lender-placed insurance and insurance tracking services to the mortgage servicing industry. www.loanprotector.com