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In the business of insurance premium financing this notion is magnified. The rapid
pace of collateral dissipation requires a plug-and-play solution for backup servicing.
That is to say, if the primary servicer of an insurance premium finance receivable
is unable to service the portfolio, a new servicer must be put into place almost
instantaneously.
Input 1 provides backup servicing to national and regional insurance premium finance
companies as required by their lenders. In order to secure the payoff of their commercial
warehouse lines of credit and larger commercial paper facilities, financial institutions
such as JP Morgan Chase Bank,
GE Capital,
DZ BANK
AG Deutsche Zentral-Genossenschafts Bank and M&T Bank have entrusted Input 1 with the
resumption of services if any of the primary servicers fail or are replaced.
In the aggregate, Input 1 is in stand-by position to assume servicing of more than
$850 million in insurance premium receivables.
Input 1 has designed a methodology to integrate data from other systems into its
own systems to facilitate the readiness component of the backup servicing requirement.
Data can be provided daily, weekly or monthly as required by the lender or the finance
company.
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Requirements and Methods
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Service Options
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