Training
VisualGAP® offers online training sessions through GoToMeeting®.
This is a very exciting way to re-train employees and
train new hires on how to use VisualGAP®,
and we believe it will have great benefits for everyone using the system.
Here is a list of our up-coming Training Sessions:
Using VisualGAP®
How to use VisualGAP®
- This training session will re-train employees or train new hires on how to use VisualGAP®.
Monthly Remittance
This session will train the employee who handles your
GAP monthly remittance how to reconcile and remit payment.
Filing Claims
Basics of how GAP claims should be processed.
Contest Corner
You can win great prizes
by entering our VisualGAP® contests! You will
be awarded an entry into the contest each time
you sell a GAP waiver. The more GAP waivers you
sell through VisualGAP® the more opportunities you have to win.
You can enter to win by clicking on 'Update Profile'
in the 'Contest Corner' tab and selecting "Yes, enter me in the VisualGAP® contests".
Please make sure to check with management at your Financial Institution prior
to enrolling in the contests. You can always change your selection by clicking on
'Update Profile' at a later date.
This is a win-win situation for both you and your Financial Institution.
The more you sell the more opportunities you have to win, but you also help
protect more borrowers and generate more fee income for your Financial Institution.
If your Financial Institution does not want to participate in Contest Corner,
please call us at 888.753.7678 and we can turn off access to the
current contests for all loan officers.
Marketing & Selling GAP with Confidence
GAP is a valuable and popular loan protection product that is designed to help protect auto loan borrowers and provide peace of mind. However, some recent industry news has highlighted the risk of sloppy marketing/sales tactics and reinforces the importance of marketing/selling GAP appropriately and accurately.
The following list of “Do's” and “Don'ts” will help ensure that your borrowers understand the product they are buying, and help keep your institution out of legal and regulatory hot water. Please share these best practices with your lending, marketing and compliance colleagues at your institution.
Download the list of “Do's” and “Don'ts”
TotalRestart Loyalty Membership Program
Frost has recently introduced an enhancement to our GAP program that can greatly increase
the value of your GAP offering. Our new TotalRestart Loyalty Membership Program does more
than just forgive a deficiency loan balance created by a theft or total loss. It helps borrowers replace their total
loss vehicle with one similar to the one they originally purchased and financed with your Financial Institution.
Contact your local representative or email us to learn how you can significantly increase your
GAP sales by adding clear value and benefits to your GAP offering. Additionally, increase loyalty after a total loss
and ensure that the loan for the replacement vehicle ends up with your Financial Institution.
TotalRestart is available exclusively through VisualGAP®.
Letters of Guarantee (LOG) & Legal Jeopardy
How does the routine and common practice of signing a Letter of Guarantee with your borrower's physical damage insurance company become a legal nightmare for you? Simple. You signed up for it.
As is standard procedure, when a borrower totals his or her car, the insurance company sends the lien holder a summary letter and a document called a Letter of Guarantee (LOG). The Letter of Guarantee details what they will pay in return for releasing the title of the totaled auto. This letter is written by the insurance company and is, naturally, designed to protect their interests; however, it has the potential to jeopardize the interests, legal and financial, of you and your borrower──if you sign it!
Read here for details