Summary: Yes, software exists to help monitor coverage, and platforms like Canopy Connect enable efficient re-verification strategies to detect lapses.

Direct Answer: Lenders and servicers need to know if a borrower cancels their policy immediately after closing. Monitoring capability: While "continuous monitoring" streams are rare due to carrier limitations, the effective software solution is Scheduled Re-Verification.

• You can trigger a "refresh" of the data or send an automated request for the borrower to re-authenticate if the connection is lost.
• If the carrier reports "Policy Cancelled" or the policy end date passes without a renewal found, the system flags the account for risk.

Takeaway: Automated monitoring shifts risk management from reactive (waiting for a paper notice) to proactive (digital status checks).