Leasepath, a leading provider of intelligent workplace, cloud- based software solutions for the equipment & asset finance industry, announced a new shared project with Great American Insurance Group’s (GAIG) Specialty Equipment Division. This collaboration marks a significant milestone, blending Leasepath’s cutting-edge technology with GAIG’s insurance expertise to deliver seamless, automated solutions for their shared customer base. While Leasepath and GAIG have previously worked together on various initiatives, this new project represents a focused effort to enhance the value delivered to their customers.
A Collaboration Built on Innovation and Excellence
“This shared project is a culmination of years of dedicated effort and innovation,” said Cody Sanguinetti, Divisional Assistant Vice President, Great American Specialty Equipment. “Working closely with Leasepath, we've developed one of the most sophisticated integrations in the industry, enhancing efficiency for all parties involved.”
Sean Scampton, Senior Sales Director at Leasepath, echoed this sentiment: “Our alliance with GAIG is a true success story. We have overcome numerous industry challenges to develop an interface that is both sophisticated and user-friendly, reflecting our commitment to innovation and customer-centric solutions.”
Enhancing Efficiency with Automated Insurance Integration
The integration between Leasepath and GAIG automates the insurance tracking and placement process, significantly reducing manual intervention and boosting efficiency. This system is already live with two equipment finance lenders with diverse products and needs, demonstrating the flexibility and robustness of the integration.
These success stories underscore the solution’s adaptability and precision in meeting varied business needs.
Tackling Industry Challenges and Technical Debt
“The industry has accumulated significant technical debt over the years,” noted Sanguinetti. “Many companies are reluctant to make changes due to their heavy reliance on legacy back-end systems. By investing in front-end solutions like Leasepath for better workflow automation, we’re helping clients mitigate these challenges and enhance usability.”
Continuous Development and Future-Ready Solutions
Michael Baez, VP of Professional Services and Customer Strategy at Leasepath, who oversees marketing and customer success, highlighted the ongoing development: “We’re not stopping here. Additional functionalities and phases are planned to further enhance the integration. Our mutual customers are already asking for more, and we’re committed to evolving to meet their needs.”
Great American’s Specialty Equipment Division emphasized that its objective is to offer a fully automated and integrated insurance program that can track and place coverage without the need for manual intervention. This system is designed to ensure compliance, improve risk management, and generate new revenue streams for clients.
Setting a New Industry Standard
This collaboration is a step towards creating a smarter, more efficient ecosystem for equipment finance. The next phase of the integration aims to provide insurance quotes during the lease origination process, offering customers transparency and choice from the outset. This proactive model will set a new standard in the industry, reinforcing the positions of Leasepath and GAIG as leaders in innovation.
Commitment to the Intelligent Workplace
Jeffrey Bilbrey, CEO of Leasepath, concluded, “Our collaboration with GAIG exemplifies our commitment to bringing the Intelligent Workplace to the equipment finance industry. We are proud of our achievements and look forward to continuing our journey, delivering unparalleled solutions to our mutual customers.”