A new app is paving the way for better customer service and faster payment times for property insurance claims by alleviating frustrations and delays caused by multi-party checks. The sureti process was created, without bias, to remove mortgage companies from affecting the claims flow process, while still protecting their interest and those of everyone else involved in the claims cycle.
After years of research and development under the leadership of Founder Mark Whatley and Vice President Sean Duffy, sureti has been vetted and put to the test by some of the biggest restoration companies, and also established itself as a trusted resource by a growing number of carriers and mortgage lenders. The app, and people behind it, created a win-win for every party involved.
“sureti’s purpose as a third-party fund control company is to protect and preserve the interests of all materially-interested parties,” said Duffy. “Our payment rails expedite the flow of insurance proceeds, especially when the mortgage lender is included on the original insurance claim check.”
sureti eases the administrative burden on restoration contractors of receiving insurance claim funds for the work they perform, especially when a mortgage lender is listed as a payee. Behind the scenes, sureti’s team facilitates the transaction with the client to get the contractor paid promptly – releasing immediate funds to contractors during various stages of work, upon receiving proof of work via a 3D scan.
Property owners and policyholders no longer face the burden, frustration, and confusion of connecting with lenders to get appropriate signatures and release of funds for insurance work done on their property. With sureti, property owners and policy holders simply snap a picture of the check in the mobile app, sign some easy to understand paperwork, and sureti handles the rest.
For mortgage lenders, sureti is a cheaper, faster, more secure way to process loss draft checks. Likewise for carriers, sureti expedites the entire restoration process, getting property owners back in their homes and businesses, thus reducing business interruption and additional living expenses (ALEs).
“sureti was built by those with a deep understanding of the property insurance ecosystem,” Whatley said. “It was conceived without bias, with an eye towards being something that all four materially-interested parties could love.”