Our Process - How we work
With over 20 years of experience since its founding in 2006, PRI continuously improves our repossession processes through an analytical, iterative approach. Our team leverages data-driven insights and field lessons learned to refine our methods and integrate the latest technology. Data allows us to optimize asset recovery plans efficiently by utilizing AI and probability mapping, resulting in maximum client value.
Analyze
Once a repossession order comes in, our data team jumps into action. They aggregate and cross-reference historical LPR records, public databases, and old-school skip-tracing data to build a comprehensive profile of the debtor and asset.
Our machine-learning algorithms analyze patterns and probabilities to identify the most likely locations for recovery. The output is an optimized route map pinpointing where our agents should focus efforts for the highest probability of retrieval.
Throughout this process, we strictly adhere to data ethics, only utilizing information relevant to the recovery. Protecting privacy is paramount. Our goal is an accurate, ethical analysis to enable efficient, successful repossessions.
Included in this phase
- Aggregate Data Sources
- Skip Tracing
- Probability Mapping
- AI Analytics
- Route Optimization
- Data Ethics
Update
Constant communication is critical during the recovery phase. Our clients have a dedicated account manager who oversees the process and provides real-time updates. Our software and infrastructure logs each geolocation and field visit.
Account managers and service representatives are available to address any client needs or concerns. Their deep familiarity with the repossession plan allows them to resolve issues and keep the process moving smoothly and quickly. Cross-team collaboration enables full transparency.
In the search and update lifecycle, we utilize both RDN and MBSi software to enable real-time data flow in both directions. This integration allows seamless information sharing between systems to provide clients with complete visibility into asset status.
Recover
Upon locating and securing a vehicle, our agents utilize Recovery Database Network (RDN) and RecoveryConnect. PRI's custom software integrates with both platforms, helping us receive real-time client updates while sending recovery status, photos, condition details, and account activity back to the client. These systems provide comprehensive chain of custody documentation, transport details, and visual records of the vehicle's condition.
The innovative RecoveryConnect platform plays a crucial role in averting unintended repossessions. It integrates real-time account status verifications and mapping technologies, only displays recoverable assets, and automatically removes any ineligible cases.
Our integrated two-step recovery process notifies lenders immediately upon asset securement, fostering timely and transparent communication. This system ensures precise recovery reporting after safely positioning the agent and asset with proper recording.
Included in this phase
- Recovery. Agents utilize RDN, RecoveryConnect, RC Mobile, and PRI's integrated software to report repossessions live while transmitting pictures, condition details, and client updates in both directions for immediate and transparent communication.
- Storage. Repossessed vehicles and personal property are stored securely and safeguarded within our advanced, state-of-the-art facility, guaranteeing the safety and integrity of the client's collateral.
- Support. Our dedicated office and yard teams engage with debtors to facilitate the process of vehicle and personal property redemption, providing clear guidance and support throughout.
Our values - Balancing Innovation and Excellence
At PRI, we integrate cutting-edge technology while never compromising service quality and compliance standards. We strive to be at the forefront of data tools and analytics while remaining focused on human oversight and proper protocols.
- Meticulous. We abide by all regulations and treat every recovery with precision.
- Efficient. Our data-driven approach optimizes routes for timely, successful repossessions.
- Adaptable. From LPR integration to machine learning, we continually adopt innovations to improve.
- Transparent. Clear communication and real-time updates provide complete process visibility.
- Loyal. We cultivate long-term client relationships and provide ongoing value.
- Innovative. By analyzing results and challenges, we refine our tech-enabled services for the future.
Have collateral to recover?
Send us the address where you believe the vehicle is located and we'll confirm coverage and next steps.