Keep GAP simple. In a total loss, GAP helps pay the difference between the primary insurer’s settlement and any outstanding loan balance. Insurers normally pay the Actual Cash Value (ACV) or Fair Market Value (FMV) of the vehicle the moment just prior to the incident. There, done. Why does this…
Remember running to your mailbox as a kid, eager to find an envelope addressed to you? What could it be? A birthday card (I bet there’s cash from grandma!)? A letter from a friend (yes, that was a thing)? Maybe you even got to wave at your mail carrier. So…
You’ve made the decision to start texting your members. Smart move. Texting opens up a new communications channel that’s both convenient (and preferred) for your members, while helping your financial institution make more money. Note: Before you read any further, you’ll want to get caught up on our SMS series….
When it comes to member communications, email is king. Financial marketers use email every day to correspond with their member base, promote new offers, and drive member sign ups. But you know it’s not all roses and blue skies. With the average email open rate for the finance industry sitting…
Your Vehicle Service Contract (VSC) program helps reduce auto loan portfolio risk. It also protects borrowers while providing them with peace of mind. Are you marketing it to maximize those outcomes or unknowingly working against your own best efforts? First, let’s get on the same page. What we call a…
