IrisX (Informed RISk eXchange) is a proprietary software tracking system specifically developed for lending institutions, mortgage servicers, and REO and property investors.

On-demand, cloud-based lender-placed insurance technology for insurance coverages. Accessible from any computer or mobile device, IrisXpress is a feature-rich and user-friendly system to help you deliver coverage quickly and accurately with simple set up.

Functionality

IrisX streamlines tracking insurance within a portfolio and applies complex business rules to report or act upon this information in a compliant manner. This cloud-based, secure system provides critical insurance tracking, coverage ordering, robust search and reporting, and consumer-compliant communications capabilities in an intuitive Windows interface.

Using data points entered manually or routine client data feeds in the hundreds of thousands, the IrisX system is working constantly to update and pinpoint property exposures. Data is encrypted at rest, system access is secure, and our redundant systems and archiving practices ensure business continuity. The IrisX system is central to a risk management approach that fits your organization best.

OSC clients benefit from quick adaptation of new regulations and data sets including flood zone determinations and tax code changes as we have in-house programmers and on-site support. IrisX handles escrowed loans, commercial property, auto loans and multi-collateral loans, including equipment, with ease and it’s infinitely scalable.

Features

• Insurance monitoring for all exposure and collateral types
• Automatic insurance coverage and certificate generation (e.g. hazard, wind, flood, REO)
• Document management and customer call recording
• Automated data input, cash management, claims, and escrow processing
• Customized notifications generation to borrowers
• System integration (e.g. flood determinations, tax tracking, 3^rd party platforms, etc.)
• Encrypted data at rest
• Standard and customized reporting
• Multi-lingual interface

Implementation and Ongoing Support

We’ve developed a proven implementation process at OSC that clearly outlines the necessary steps to implement IrisX with minimal disruption to your organization. At every step in the process, your assigned team will work closely with you and your team to effectively transition onto IrisX or expand usage as you grow. With larger or more complex portfolios, a dedicated client service manager, lender support representatives and others will be assigned to the account.

Training and support on IrisX is included in your service agreement. We will regularly communicate and release new enhancements to the system based on client input, new regulations or updated insurance rates.