What is the CIP?
The CIP is a government program that requires us and other lenders to identify anybody seeking to open an account. By federal law, we must verify the identity of all customers and retain client information.
What's the CIP process and program enhancements?
We've made several system and program enhancements aimed at making it easy for everyone to be in compliance with this program, including:
- Providing a CIP Disclosure Addendum to all PFAs requesting the insured’s information
- Creating CIP data entry fields in our quoting applications
- Utilizing third-party data providers to provide missing CIP data, where possible
- A direct-mail campaign to insureds asking for their CIP information