Leasepath and Great American Insurance Group join forces

Leasepath, provider of intelligent workplace, cloud-based software solutions for the equipment and asset finance industry, has announced a collaboration with Great American Insurance Group’s (GAIG) Specialty Equipment Division. The two industry players are launching a shared project that combines Leasepath’s innovative technology with GAIG’s insurance expertise to offer seamless, automated solutions for their mutual customer base.

This initiative marks a new chapter in the partnership between Leasepath and GAIG, who have previously collaborated on various initiatives. This latest endeavour is a more focused effort aimed at significantly enhancing value for customers through the integration of advanced technology and industry-leading insurance services.

“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.”

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 early successes demonstrate the adaptability of the solution, which is well-positioned to serve a wide range of clients in the equipment finance industry.

“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, highlighted the ongoing nature of this integration:

“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.”

GAIG’s Specialty Equipment Division is equally dedicated to innovation, emphasizing its goal of offering a fully automated and integrated insurance program. This system aims to track and place coverage without the need for manual processes, ensuring compliance, improving risk management, and unlocking new revenue streams for clients.

Looking ahead, the next phase of the Leasepath-GAIG collaboration seeks to provide insurance quotes during the lease origination process. By offering customers transparency and choice from the beginning, the partnership aims to set a new standard for the equipment finance industry.

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.”