MADISON, Wis.–TruStage has launched a new Collateral Protection Insurance (CPI)-Auto Tracked product.
According to TruStage, the product, which is provided in partnership with van Wagenen, a financial services provider, helps protect vehicles financed through credit unions by monitoring physical damage insurance—both comprehensive and collision coverage—on a credit union’s portfolio. CPI-Auto Tracked then adds physical damage insurance protection when it finds a member isn’t insured.
“One in three U.S. drivers is uninsured or underinsured,” Shawn Heinecke, managing director of van Wagenen, said in a statement. “CPI-Auto helps protect your auto collateral and provides flexible options to meet the needs of credit unions and their members, leading to reduced administrative workload and costs, lower member noise, advanced commercial tracking capabilities, real-time reports and a simplified member experience.”
‘Brighter Financial Future’
“Both van Wagenen and TruStage have each committed more than nine decades to changing the way business is done and making brighter financial futures accessible to more people,” TruStage Vice President-P&C Solutions Susanna Goldberg said in a statement. “TruStage is proud to partner with van Wagenen to bring this increasingly important coverage to credit unions.”
According to the organizations, with CPI-Auto Tracked, every function is closely monitored to ensure quality, consistency and a seamless experience.
‘Dedicated Customer Service Team’
“A dedicated customer service team and account manager work with credit unions, responding to member inquiries and emails,” the companies added. “Reporting and Power BI dashboards are available in real time. There is no need to request data and wait days for information. The data is organized and designed to be easily accessible and convenient, freeing up time so your staff can focus on what really matters—your members.”
Along with TruStage’s Vendor Single Interest (VSI) and Blanket Auto, TruStage partners with van Wagenen for real estate Collateral Protection. Adding the CPI-Auto Tracked product provides a one-stop shop for a credit union’s collateral needs, TruStage said.
