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Diversify your portfolio with auto debt using vehicle location data for collectability. By Stephen Nethery Auto debt doesn’t rank high on most Debt Buyers scorecards. But what many don’t realize is that they may be missing out on collectable portfolios that can drive results and revenue. Why does auto debt get a bum rap? Here’s […]

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Vehicle location data may be the missing link you need.  Arson set fires were up 10% in 2014, according to the National Fire Protection Association (NFPA). In 2014, arsonists were responsible for $729 million in property damage including fires at factories, residential buildings and churches and in motor vehicles. Even as carriers employ Special Investigative […]

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Flat-Rate Vehicle Location Data Helps You Prevent CFPB Fines. The CFPB (Consumer Financial Protection Bureau) is cracking down on Disparate Treatment and Disparate Impact and here’s the rub: you can get into hot water even if the disparate treatment or impact is unintentional. In simplistic terms, the CFPB is saying lenders must treat their customers […]

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Why Traditional Collections for Non-Traditional Loans Doesn’t Work. Imagine a perfect collections world – a world where all loans, subprime and prime, were paid on time. Admittedly that’s a fantasy scenario, yet we are seeing collections departments that live in a similar fantasy world – a world where tradition equals best practices. Problem is these […]

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JERSEY CITY, N.J., November 3, 2015 — Verisk Insurance Solutions, a leading source of information about property/casualty insurance risk, announced the launch of GarageConfirm™, a new service to help insurers verify garaging addresses at point of sale and renewal. The service uses license plate recognition technology provided by Digital Recognition Network (DRN), previously available only to law enforcement and auto lenders. Verisk Insurance Solutions is a Verisk Analytics (Nasdaq:VRSK) business.

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Value-Based Pricing Opens New Possibilities for Collections & Recovery FORT WORTH, TX 10/20/2015 – Digital Recognition Network (DRN) (www.DRNData.com) announced the launch of their new Enterprise Solution, a value-based subscription model for all-you-can-eat access to vehicle location data. Auto lenders rely on DRN’s vehicle location data to recover more assets and now they can employ […]

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Attention Auto Lenders: Use ROI to drive data investments and reduce charge-offs. In our last blog we talked about John’s loan and the power of new vehicle location data insights in collections. We learned how using LPR data early in the collections cycle provides valuable insights to help prevent charge-off losses. Sounds great, right? But […]

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