Loss Mitigation Process Improvements

Client Need: A rapidly growing automobile finance company sought to improve the productivity and performance levels of its servicing and loss mitigation units with special emphasis on cost effective scalability and technology opportunities.

Solution: BenchMark Consulting documented the current servicing and loss mitigation operating environments including organization, technology, workflows, processes, policies and procedures. The team identified several opportunities to improve processes, productivity, service levels, revenue, and to reduce operational risk primarily in vehicle disposal, collections and recovery.

Results: An annual estimated benefit of more than $3.7 million from the implementation of recommendations was identified.