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09 Dec 2021

An investment that pays dividends…

In an environment where trusting your source is key to your understanding, decision making and result, it pays to invest your valuable time and resources in the right product for the right outcome. Since go-live in January this year, the Pirum CoacsConnect product continues to be a trusted source of automation and risk reduction. When we launched the first phase of CoacsConnect (Income claims), we did so on the back of detailed conversation and support from long standing Pirum clients. As of the time of writing we now have eleven clients active on the service, four of which are agent lenders. All these lenders have had dividends paid as part of their investment in CoacsConnect. You know by now that we love wordplay at Pirum, so I hope the metaphor was not lost on you. To put these benefits into more specific terms, it is accurate to say that on average we have helped facilitate a reduction in risk. More specifically, the agent lenders are getting paid 7 days sooner than they were pre-adoption of CoacsConnect. As we grow the client coverage and as more of the eleven active users get more familiar with the product, we expect to settle a high percentage of claims on or just after pay date. This creates huge efficiency gains for the agent lenders, in the form of financial and operational risk reduction. The agent lenders no longer rely on emails, and no longer must waste time reading long email chains to understand the latest action and owner. CoacsConnect is a streamlined, automated workflow tool from claim issuance to payment. As part of the training and support the Pirum team are collaborating with clients and future clients to identify and resolve high value aged claims.

If you would like us to perform this analysis and show you how we can improve your existing process, please contact us and we will be happy to arrange a discussion.

The product team at Pirum have already started to think and plan phase two of the service, which centers around voluntary events. All our clients that subscribe to income claims are part of the design partner group (DPG) for voluntary events and are already sharing ideas and ways for us to make this the best version of the service it can be. If you are reading this and think that either this would be great for your business or you are a curious non-believer, it is after all the season where some believe, and some do not. Contact the sales team at connect@pirum.com to have a discussion and see a demo of the services.

 

Signed by:

Scott Brown

Director, Business Development