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NAF Conference Offers Return to Industry Camaraderie

The National Automotive Finance Association (NAF) held its annual Non-Prime Auto Financing Conference last week in Plano, Texas. This was a great opportunity for subprime lenders to network, share best practices, get updated on industry trends and learn about new innovations in our space. I spoke to many lenders, agents and other vendors who were really glad to be back – we’ve all missed the camaraderie and learning that can happen when we come together. The group was eager to talk about what’s coming for the industry as the pace of collections and recoveries begins to increase. There was a

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The 5 Most Shocking Commercial Use Examples Hiding in Your Books

Pictures prove extent of commercial use of a personal vehicle   Unfortunately, vehicles insured on personal auto policies are used for commercial business purposes at a surprising rate. When that happens, carriers lose out on premium and lose even more when accidents occur because commercial use vehicles carry higher risk.

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Three Takeaways from the Automotive Intelligence Summit

Alternative data’s impact on the automotive industry is heating up Last month, DRN’s FinTech team attended the first annual Automotive Intelligence Summit (AIS), where we were also a proud sponsor of the event. The conference centered around technology and its effect on the automotive industry, bringing together professionals within the

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Spot Fraud in Your Books with Two Easy Indicators

Every carrier’s book of business is filled with fraud. There are often easy hints that can be used to identify them. To my surprise, carriers often overlook these red flags, which ends up costing them in the long run. So, what are the “overlooked” identifiers? They’re the well-known, easy to

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What Can You Do with Billions of Pictures?

Carriers turn to pictures for proof of commercial use and pre-existing damage fraud   What is the most irrefutable proof that someone is using a personal vehicle for commercial purposes, or that a vehicle had pre-existing damage prior to the claim? In these cases, the “eyes” have it – pictures provide

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DRN Vehicle Recovery Hotlist Grows to 360,000 as the Company Marks Milestone of $2 Billion in Asset Value Recovered in 2017 for Lenders

Hotlist Growth Reflects Confidence in DRN’s Provider and Affiliate Network FORT WORTH, TX 1/23/2018 – Digital Recognition Network (DRN) announces today that the company’s active hotlist hit an all-time high of 360,000 License Plate Recognition (LPR) assignments. DRN also reports that in 2017 the company’s providers recovered collateral totaling a

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