The ClaimStinger Business Case for Credit Unions
The Opportunity: Protecting Member Financial Security
Today, credit unions face an unprecedented opportunity to deepen credit union member relationships and secure financial well-being. A recent poll highlighted a significant knowledge gap: nearly 80% of credit union members don’t know their auto insurance deductible. This lack of awareness leaves them vulnerable to unexpected financial burdens and the risk of denied claims.
ClaimStinger is a proprietary, white-label software suite that addresses this gap directly. It provides members with the tools and guidance needed to make smart, informed decisions about auto and property claims, turning financial uncertainty into confidence.
The Proven Solution: A Unique Suite of Tools
Developed over years of real-world application in the auto repair industry, ClaimStinger’s suite of four core products is proven to work. The software’s unique ability to create time-stamped, verifiable evidence for claims is a game-changer for members.
- Vehicle Condition Reports (VCRs) and Property Condition Reports create an irrefutable “before” picture of an asset, protecting against future disputes.
- Closed Claim Reports (for both auto and property)provide documentation to prove what was and was not repaired, preventing future claims from being denied due to “pre-existing” damage.
- Diminished Value Claim Reports help members recover the financial loss that occurs when an asset’s market value drops after an accident.
With this powerful, integrated suite, a credit union can offer a solution that is currently unavailable from any other provider.
The Irresistible Value Proposition: The Math of Financial Security
The true value of ClaimStinger is not in its features; it’s in the financial security it delivers to your members. Your investment in ClaimStinger can be justified by just a single, high-impact claim event.
The Strategic Logic of PMPY Pricing
Our pricing model is not based on the cost of development. The thousands of hours of R&D and beta testing are an investment we’ve already made. Instead, our price is based on the value we deliver.
The price is intentionally set to be so low that the value proposition becomes a “no-brainer” for any credit union.
The Unseen Threat: Protecting Your Auto Loan Portfolio
Beyond individual member losses, your auto loan portfolio itself faces a quantifiable risk. Industry data shows that credit unions experience an average of 2% in losses on their auto loans from accidents and up to 4% in losses from catastrophic weather events (like hail). These losses, often tied to disputed or denied insurance claims, directly impact your bottom line and threaten the stability of your portfolio.
By providing members with ClaimStinger, you are not only protecting them but also insuring the integrity of your own loan portfolio, turning a potential loss into a secured asset.
Consider the following real-world scenario:
A business owner had a $47,000 property claim for hail damage denied due to insufficient documentation. The loss could have been prevented entirely with the verifiable, time-stamped evidence provided by ClaimStinger’s software.
Now, let’s look at the numbers. At the proposed rate of $1.20 Per Member Per Year (PMPY), a mid-sized credit union with 50,000 members would pay an annual fee of $60,000.
The powerful conclusion? A single prevented loss of $47,000 could offset nearly the entire annual cost of the software for all 50,000 members. Your return on investment is not measured in cents, but in the thousands of dollars and the immeasurable trust you build with your members.
ClaimStinger isn’t an expense; it’s a strategic investment in your members’ financial resilience.
Recommendation: A Seamless Partnership
ClaimStinger is ready for a white-label partnership with CUInsight. The platform is designed for a seamless, branded experience, allowing you to quickly and effectively offer this essential tool to your member base.
- Pricing: Our tiered PMPY model is structured to make adoption a “no-brainer” for all credit unions, from the smallest to the largest.
- Small CUs (5K-25K members): $1.25 PMPY
- Medium CUs (25K-100K members): $1.20 PMPY
- Large CUs (100K+ members): $1.00 PMPY
- Implementation: The white-label solution is built for rapid deployment and easy integration into your existing member portal.
- Value: This partnership empowers credit unions to provide a truly meaningful service that protects their members’ most valuable assets and reinforces their role as a trusted financial partner.
We are confident that by offering ClaimStinger, you will not only generate significant, predictable revenue but also solidify your reputation as a forward-thinking institution dedicated to its members’ financial well-being.
0 Comments