Illinois—The International GNSS Service (formerly known as the International GPS Service), also known as the IGS, has finally joined forces with the National Insurance Crime Bureau, otherwise identified as the NICB, to provide auto insurance companies and lenders a full service supervising answer to these companies’ lending portfolios.
IGS is the leading company that offers skip tracing, asset location and collateral recovery services in the country. This company is under the Portfolio Recovery Associates, Inc. which is concentrated on locating or finding vehicles, for allocating repossession and for recovering the collateral for the lenders’ vehicles. It has a comprehensive and trustworthy building which features top of the line equipment and operations system. In here, the IGS receives an access to various data, communication equipment and a set of competitive repossession agents of the country.
NICB is a non-profit organization. It is also the leading organization in its field and in found in Des Plaines in the state on Illinois. The organization focus on completely eradicating, detecting and defeating insurance frauds and car thefts in the country. They achieve their objectives through analysis of information, investigation of this information, and they also provide trainings for legislative advocacy and for public awareness. This organization is maintained by at least 1,100 auto insurance and property insurance companies as well as self insurance organizations around the country. NCIB organization has helped protect over $319 billion worth of insurance premiums just last year. They have protected about 78 percent of the country’s property or casual insurance and they have also helped about $151 billion worth of auto insurance amounts of both consumers and lenders. The latter amount is about 93 percent of the total number they have helped in 2009.
IGS, which is a Las-Vegas-based corporation make skip tracing, asset location and collateral recovery services available to different giant auto insurance companies and lenders all over the country. IGS would be the one to help the lenders to recover a vehicle that has been stolen, impounded, and is about to be exported without the lender’s consent or even knowledge. They would also help the lender to reduce impound and storage cost that might affect the lender and its consumers.
NCIB, on the other hand, would be the one to track down motor vehicles. They would be obliged to track and give at least three times a day reports about stolen, impounded and about to be exported cars that the lender have not permitted.