For today’s CRE lenders and servicers, the intensely manual process of insurance compliance review is one of their largest operational costs. While maximizing the efficiency, accuracy and speed of this process is a key consideration during any business cycle, the need has become particularly acute with the recent economic uncertainty.
Maximizing Productivity and Profitability Despite Cyclical Conditions.
Manual monitoring of complex insurance documents like ACORD forms — and staying current with ever-changing requirements for underwriters and investors — are challenges for even the most experienced insurance analysts. Ways that new automated solutions for high-speed tracking and compliance can help include:
- Using AI-assisted text recognition to extract information from ACORD forms with exceptional accuracy
- The ability to assign tasks and automate work processes to streamline the logistics of alerts, actions and remedies
Download our free white paper to find out more:
Risk-proofing CRE insurance compliance for the economic downturn.
In October 2019, McCracken published a white paper on this subject entitled: Risk-proofing CRE insurance compliance for the economic downturn. Its content has become even timelier over the last several months. We invite you to download the white paper, and to contact McCracken with any thoughts or questions you may have.