Default Update Insurance Information Process

These are additional processes that you can add to your LMS tenant to help streamline your loan servicing. You can either set them up yourself using process wizards, or reach out to your success specialist to enlist the help of our support engineers (tech support rates may apply).


A major function of LoanPro's Loan Management System is to make common company processes as streamlined and effective as possible. Our process wizards make processes easier for your team and improve the chances they are completed successfully. This article will cover the process for updating a borrower's insurance information and how LoanPro makes it a breeze for your personnel.

Update Insurance Information Process

Insurance is a common piece of lending. Many lenders will require that a borrower acquire insurance on the item they're borrowing funds for. For example, a lender that specializes in automotive loans may require each borrower to insure the vehicle since it's also the collateralized item on the loan. Since this is a common requirement, saving and updating insurance information is an integral part of servicing; thus, we've made it easy for users to do as such with the Update customer Information Wizard.

Starting the Process

To begin, navigate to the specific loan account and then to the 'Wizards' tab. Select the 'Category' drop-down and click 'Servicing'.

Click  and  on the 'Update Customer Information' wizard to begin the process. 

On this page, the existing customer information can be edited. If additional customers need to be added to the loan, they can be created or linked to the loan if they are already created. Once the necessary information has been entered, click  and  .

Choose an appropriate Action & Result, then document a note with any additional necessary information regarding the customer information update. Save the information and click  to complete the wizard and the process.


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