My team is all about interesting education—a fresh take on the daily routine for credit unions. We all know that no matter what, dealing with members on some days can be a challenge. We want to be a new approach to maybe some old ideas.
We want to give you a competitive edge—some tools in your skills toolbox that make a real difference in your day. We want to empower employees to feel like superheroes. What are the ways we can do this?
The hidden risk: The gap between member documentation and credible evidence
When it comes to documenting auto and property conditions, things have fundamentally changed. While every smartphone photo technically contains a timestamp, the rise of mobile devices has created a hidden financial risk: the member’s quick, standard documentation is often rejected because it lacks the necessary credibility for the claims process.
The challenge isn’t the technology, but the lack of awareness about what constitutes verifiable evidence. A member’s photo includes an internal timestamp, but because this data is self-generated and easily disputable, it is not considered irrefutable proof by insurance carriers and is often challenged because of the way information is gathered properly by insurance carriers. This creates a massive gap in trustworthiness—a gap that low-cost insurance carriers are quick to exploit.
These carriers, focused on maximizing profit over quality claims service, know that most DIY evidence is easily challenged. They rely on this weak documentation to justify “low-ball” estimates, delays, and outright claim denials. This practice maximizes their profitability at the direct expense of your member, leaving the credit union with risk tied to an under-repaired, devalued asset. This failure to use credible, proactive documentation is the root of the friction your members face.
The unseen stressor: When financial turmoil hits home
Credit union employees—from tellers to loan officers—are the bedrock of your communities’ financial stability. They often carry the emotional weight of their members’ lives, constantly juggling roles, wearing many hats, and striving to find solutions.
But there is a moment when even the most dedicated employee feels powerless: when a member calls, distressed, not about a late payment, but about a denied or severely underpaid insurance claim on a vehicle they finance or a home secured by a mortgage.
The member is stressed, their collateral is devalued, and the CU employee, despite their mission to help, has no proactive, tangible tool to offer. They must watch as a key asset turns into a painful liability for their member. This is the moment of friction where a credit union’s “people helping people” mission often collides with the complexity of the modern insurance world.
The AH-HA moment: Shifting from reactive support to proactive relief
We realized that the solution isn’t just a piece of software; it’s a toolbox and a shared language from our experts that educates and empowers the CU employee to become the member’s ultimate financial guardian.
This transformative approach is centered on empowering your team with knowledge and an easy-to-use, white labeled time-stamped mobile application. Behold the Cover Your Assets! LMS video series—the education platform that shifts complex insurance jargon into simple, actionable steps.
Your employee’s new superpowers: The Cover Your Assets! toolkit
The concepts taught in our LMS series, coupled with the power of a secure documentation platform, turn what would be mundane or frustrating encounters into moments of member delight and loyalty building.
1. The power of proactive documentation
Most members document damage after an incident. Real financial protection starts before an event. Our LMS highlights the critical need for proactive documentation, and a Vehicle Condition Report provides the perfect tool.
It is a simple, mobile application that generates a secure, verifiable report on the condition of a vehicle or property. Crucially, the app guides the member through the essential photographic evidence needed for an irrefutable report. For vehicles, this includes: four corner photos, straight-on front and rear views, the VIN tag, and the current mileage shown on the odometer. For property, the process captures the Google Maps pin location, before-images of damages, uploaded estimates from a verified independent repair company, and, crucially, after-repair receipts and new photos documenting the completed repairs. Done twice a year as a habit for vehicles and making it part of your employee’s process can easily be recommended as part of the lending or onboarding process.
The Result: If a claim arises, the member has irrefutable, third-party evidence to back their position, removing ambiguity and speeding up the resolution process.
2. Eliminating the low-ball estimate
A frequent frustration for members is the “low-ball” estimate from an insurance carrier. They are left confused and facing out-of-pocket expenses.
The training equips employees with the concept that a verifiable, independent report is the best defense. We teach the difference between a carrier’s initial estimate and the true cost of restoration. Products like a Collision Initial Report and Hail Initial Report are direct applications of this concept, allowing members to challenge low offers with objective, detailed documentation.
3. Proactive deductible decisions
Imagine a CU employee guiding a member on a complex financial decision before they suffer a loss. Our LMS covers the concept of making proactive decisions about deductible amounts or split deductibles. This knowledge gives employees confidence to discuss a member’s risk tolerance and policy structure beyond the standard lending conversation, cementing the CU’s role as a trusted financial advisor.
4. Unlocking the hidden asset: Diminished Value
Few members know that when their vehicle is damaged in an accident by an insured at-fault driver, even if fully repaired, it instantly loses market value—an issue known as Diminished Value. Even fewer know they can file a claim to recover this loss.
A Diminished Value claim product is the key to unlocking this hidden recovery. By introducing this concept and providing the proper tool, your employees become heroes who help members recover thousands of dollars they didn’t even know they were owed. This is direct, tangible, and highly memorable financial relief.
The feel-good ROI
What does this translate to for the credit union decision-maker?
- Elevated employee satisfaction: Empowering employees with tools that genuinely help members eliminates the stress of feeling helpless. They move from “transaction processors” to “super-protectors.”
- Unbreakable member loyalty: When a credit union helps a member recover a potential loss of $6,000 on a vehicle claim or $50,000 on a property claim, that member becomes a loyal member for life. This level of proactive asset protection is a service no bank can easily match.
- Risk mitigation: By ensuring member assets (your collateral) are properly documented, repaired, and valued, you mitigate financial risk for the entire cooperative.
Bridging the cooperative spirit and modern risk
We believe that becoming a financial expert and protector can be an empowering feeling, not just for you but also for your members you look forward to encountering every day. ClaimStinger is the bridge between the cooperative spirit and the reality of modern risk. ClaimStinger wants to be a new take on maybe some old ideas, giving you a competitive edge. We’ve developed the ClaimStinger platform to give proactive relief to your members, but ultimately, our goal is to give CU employees the keys to the tool box that ClaimStinger is. Let’s discuss how we can put the “Cover Your Assets!” toolbox in the hands of your team today.
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