Unraveling CPI: Safeguarding Assets & Understanding Risks

Anne Holtzman, Senior Vice President Risk Management

 

In her current role with Allied Solutions, Anne Holtzman is responsible for internal product development and identifying and developing partner vendor strategies that serve to provide risk management solutions to all facets of lending institutions. She has over 30 years of experience in the insurance industry, serving in various executive level positions for both the personal lines automobile insurance industry and now in a service support role for financial intuition clients. Anne has strong recovery expertise in areas of repossession, total loss, and GAP claim adjudication.

 

In this episode:

[0:26] Meet Anne Holtzman 

[3:46] Why CPI, why is this such an important topic? 

[6:10] In 2023, we've seen the highest auto default rates now up to almost 0.94%. 

[6:26] A decline in automobile car values. 

[8:19] The average interest rate on a used vehicle is 10.5%. 

[9:17] Continue to see restricted demand on vehicles as we move through 2023 and 2024. 

[11:10] With inflation, a much higher cost to repair vehicles. 

[11:52] Delinquency or deficiency balances, are going to return. 

[12:34] If you're not lending, then the focus is always on risk mitigation. 

[13:50] About 36% of the repossession agent market was lost. 

[14:28] We are going to see decreased recovery rates and an increased need for technology. 

[18:49] What are your market predictions going into the back half of 2023? 

[19:06] Are vehicles going to be affordable for the main-line consumer? 

[19:50] Technology, digital engagement, and AI are going to make a big mark. 

[20:39] 2024 will be a year of refinance.