In this episode of The Allied Angle, we discuss the rising risks facing auto lenders, especially in the wake of recent hurricanes Helene and Milton. Allied's Vice President Claim and REPO Plus Operations Scott Myers and 2nd Vice President RMO Product Management Mike Batchelor dive into the impacts on loan portfolios, the surge in GAP claims, and insurance rate hikes.
In this episode:
00:46 Meet Mike and Scott
04:25 The market trends most influencing auto loans and the risk landscape
10:01 Why people don't talk about the high cost of auto insurance and the relationship between high insurance costs and high vehicle prices
11:55 The impact of natural disasters on everyone's insurance premiums and how they will affect future claims
16:59 How financial institutions should adapt their collateral protection strategies to mitigate risks amid current market pressures
21:00 The advantages of an insurance tracking program for financial institutions and the risks associated with not having one in place
25:07 What financial institutions should lookout for when utilizing technology to optimize delinquency management and loss mitigation
28:19 The most beneficial tools to help navigate the future of risk management.