Policy Administration
- Register insurance policies upon vehicle allocation
- Validate mandatory coverage (comprehensive / third-party, according to company policy)
- Monitor policy validity and renewals
Claims Management
- Handle claims reporting
- Follow up through resolution
- Control indemnity payments and allocation (e.g., loan cancellation or asset replacement)
Registration
- Manage lien registration before the Motor Vehicle Registry
- Follow up until the lien is fully perfected (legal enforceability)
Document Control
- Maintain physical or digital custody of lien documentation
- Ensure document integrity and traceability
Portfolio Monitoring (Compliance & Risk)
- Monitor portfolio with active liens
- Ensure all financed vehicles maintain valid insurance coverage
- Identify:
- expired policies
- uninsured vehicles
- legal or documentation inconsistencies
Lien Release Management
- Manage lien release once the financing plan is fully paid
- Issue lien release certificates
- Coordinate filings before the Motor Vehicle Registry