This recognition demonstrates the continued success of Allied’s Risk and Recovery team working on our clients’ behalf in 2020.
Allied Solutions successfully navigated the unprecedented challenges the COVID-19 pandemic brought on, continuing to serve clients, communities, employees, and partners in monitoring, managing, and mitigating emerging risks.
Despite abrupt service disruptions in March 2020, Allied maintained 100% of its service level agreements as well as a review of all vendor and partner relationships. Service levels remained steady throughout 2020, with few exceptions. Average recoveries for Allied clients increased 2.7% in 2020.
Shifting regulatory measures presented an industry-wide focus on voluntary protection products (VPP), a challenge that prompted Allied Solutions to launch REFUND Plus™. This compliance-focused solution streamlines the cancellation process for aftermarket products due to early payoff, repossession, total loss, charge-off, and abandonment. With the inclusion of REFUND Plus™, Allied Solutions offers an optimized, bundled solution suite for Total Loss, GAP, REPO Plus® and Track, and ancillary products to address client needs.
Anne Holtzman, Allied Solutions’ Senior Vice President of Risk and Recovery, explained, “With this expanded offering, Allied Solutions in uniquely positioned to provide three key areas of benefit: extended coverages, reduced consumer deficiencies, and program support for changing regulations and moratoriums.”
To prepare for 2021, Allied Solutions has proactively implemented cross-training protocols to manage an anticipated increase in claim volume for GAP, Total Loss, and product cancellation efficiently. In 2020, Allied responded to state-specific litigation to provide look-back assistance and assurance that consumer refunds were effectively managed and distributed. Additionally, Allied implemented a robust strategy to ensure state mandates, particularly those relating to aftermarket product refunds, are compliantly managed.
The Road Forward
Consumers are relying on financial institutions to provide solutions that will assist in financial recovery. Allied ensures its lender clients have access to best-in-class solutions that provide a competitive advantage. Additional information may be found on Allied’s web page and social channels.
About Allied Solutions
Allied Solutions, LLC is one of the largest providers of insurance, lending, and marketing products to financial institutions in the US. Allied Solutions uses technology-based products and services customized to meet the needs of 4,000 clients along with a portfolio of innovative products and services from a wide variety of providers. Allied Solutions maintains over 16 regional offices and service centers around the country and is a subsidiary of Securian Financial Group, Inc.
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