Insurance/Impounds Specialist responsible for processing insurance and impound activities at DFC. Overseeing vehicle lifecycle and ensuring accurate customer insurance coverage management.
Responsibilities
Process insurance policy cancellation and lapse paperwork to the collection account.
Establish and maintain tracking system for DFC customer insurance coverage.
Contact customers to verify current insurance coverage and educate on terms on contract related to coverage.
Confirm insurance claim status and update collection account status.
Process “Guarantee of Title” paperwork needed for payment in timely manner.
Contact and educate customers on total loss process and account responsibility until process complete.
Verify additional contracts and process cancellations as needed.
Contact insurance companies weekly to verify status of claim process and payment.
Monitor customer account details for non-payments from contract cancellations and insurance companies.
Educate and counsel customers on account terms and payment programs to resolve past due amounts
Utilize various skip tracing methods and processes to locate customers as needed
Maintain and ensure accurate, up-to-date customer account information.
Manage end to end Impound process: Oversee lifecycle of impounded vehicles from initial notice, through legal hold, to recovery or abandonment.
Fee Negotiation: Negotiate storage fees and charges with towing/repair facilities to minimize financial loss.
Loss Mitigation: Analyze vehicle value against accrued fees to determine whether to secure the vehicle or abandon it to minimize net loss.
Documentation & Accuracy: Prepare legally required state-specific impound packets, hold-harmless documents, and affidavits to facilitate swift vehicle release.
Recovery Coordination: Collaborate with repossession agents to schedule and coordinate the prompt pickup of vehicles from impound lots.
Requirements
Strong attention to detail
Sense of urgency
Excellent communication
PC skills including knowledge and use of MS Office (Excel, Word, Windows, etc.)
Previous auto insurance experience preferred
Previous auto industry experience preferred
Previous collections experience a plus, but not required
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