DALLAS — The StoneEagle Group has announced that United States Warranty Corp. (USWC), a provider of risk management and fee income products to lenders and auto dealers, has selected SEcureCard. StoneEagle developed the SEcureCard to provide vehicle service contract administrators a streamlined approach for handling claim payments.
When it comes to vehicle service contract products, claim payments have been a challenge when paid via credit card. Administrators spend significant time reconciling credit card charges back to individual claims within their administration systems and tracking adjustments that were made at the dealership prior to actually charging the claim payment. These over/under amounts often result in major losses. If an administration company allows up to only a $5 variance between claim approval and the actual amount charged to the card, significant claim dollars are spent without approval. There are also instances where credit cards are used for additional and often fraudulent charges by repair facility personnel.
