State National Expands Online Capabilities for Lenders

Leading provider of collateral protection insurance adds calculators for guaranteed asset protection, extended warranty, and credit life coverages.

Bedford, Texas - October 5, 2009 - State National Companies (SNC), the national leader in collateral protection insurance (CPI) solutions, today announced the availability of expanded online capabilities through its web-based InsurTrak program management application. Newly added calculator functionality enables lenders to easily and efficiently cross-market ancillary products, including guaranteed asset protection (GAP), extended warranty, and credit life/debt protection.

"Although collateral protection insurance is our primary product, our clients do have a need for our ancillary products and an effective way to offer them to their customers," says Trace Ledbetter, senior vice president of service. "InsurTrak was already the most flexible, efficient, and reliable program management tool on the market. Now, we have made it even better."

With this latest enhancement, lenders can use InsurTrak to automatically calculate loan payments based on any combination of GAP, extended warranty, or credit life coverages. Calculations can be represented as either a monthly or daily amount.

"Expanding InsurTrak complements the service we provide to credit unions and banks nationwide," said Ledbetter. "In addition to our online capabilities, State National offers individual pricing in all our coverages. We also have dedicated product managers available for training and helping loan officers market additional products that generate non-interest income for the lender and peace of mind for borrowers."

The new functionality adds to an already impressive array of capabilities available to lenders through the secure InsurTrak website, including monitoring insurance status, providing full online claims reporting and administration, and delivering comprehensive management reporting.

"Our service excellence is based on the right balance of people and technology," says Ledbetter. "We are committed to providing our clients the service and tools that make it easy for them to provide additional products to their borrowers and strengthen customer relationships."