GCC Servicing Systems has introduced a new Insurance Renewal System to reduce mortgage servicer’s insurance payment process.

The new system automates organising and sending insurance vendor payments processes within the G/SERV loan servicing platform.

It categorises the servicer bill and schedules payments automatically while reducing monthly time commitment by 80 percent.

The new system reduces the amount of time spent on the insurance renewal process to between one and two hours which took GCC clients more then eight hours a month to complete.

GCC president Glenn Liebowitz said that the Insurance Renewal System is a result of the company’s team listening to client needs and building products to address the inefficiencies they face on a daily basis.

"Through this automation we address the back-office operations of our clients and free up time to handle tasks that actually need human touch, such as borrower service," Liebowitz said.