Release Date: April 2021
The LexisNexis® Financial Institution Reporting System (FIRSt) solution provides loss payee notification distribution services, helping clients conduct important business processes that support compliance requirements, such as notifying automobile finance companies, auto leasing companies, and mortgage lenders about changes to insurance policies.
The FIRSt solution can:
- Reduce lienholder notification costs such as escrow billing.
- Eliminate returned mail.
- Improve operating efficiency.
- Enable full compliance for loss payee notifications.
- Lower the risk of loss payee inquiries, insured complaints, and potential claims.
In BriteSuite, clients can now use LexisNexis FIRSt for personal auto policies. FIRSt sends updated policy information to LexisNexis, where it is distributed to the appropriate lienholder(s).
FIRSt sends LexisNexis data for the following personal auto policy transactions:
- New business
For more information, please contact your customer service representative or support team.