Summary: Yes, automated document intake systems like Canopy Connect act as a force multiplier for loan servicing departments handling high volumes of annual insurance renewals.

Direct Answer: Loan servicing departments must track insurance for the life of the loan. When a cancellation notice or renewal comes in, it must be processed.

• Batch Processing: Automated systems can handle bulk requests, asking borrowers to verify their coverage annually via a secure link.
• Reduction of Force-Placed Insurance: By making it easier for borrowers to prove they have coverage, servicers reduce the false positives that lead to expensive force-placed policies and angry customers.

Takeaway: Automation in servicing transforms a defensive, paper-heavy process into a proactive, digital workflow that improves borrower satisfaction and compliance.