CUInsight's Greg Michlig is joined by James Bishop, Founder of ClaimStinger for a quick 3 question interview about strengthening collateral protection and deepening member trust...
Three questions:
- (0:44) Let's talk about the 'silent risk' in credit union lending. Your work points out that most members don't understand their deductibles, leading to insurers making low-ball payments. Can you quickly explain how this process actually devalues the asset securing the loan, and how ClaimStinger's Fair Market Repair (FMR) assessment stops that depreciation immediately?
- (2:15) ClaimStinger is all about being proactive. Why do you insist that CUs need to document the condition of an asset before any damage occurs—with tools like the Vehicle Condition Report (VCR)—and how does that VCR data become a valuable resource for loan officers right at the moment of lending?
- (5:30) Credit unions thrive on trust. You offer members a path to recover 'lost' money through Diminished Value Claims, which is something most members don't even know they're entitled to. How does providing this kind of specialized, high-value protection transform the member-CU relationship?
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