Wingspan Portfolio Advisors, Carrollton, Texas, a component and special servicer based in Dallas, Texas, has introduced Wingspan Insurance Services, a new subsidiary created to address growing concerns among servicers, investors and others over risks associated with insufficient insurance coverage in their portfolios. Wingspan Insurance Services offers a wide range of insurance products.
“Servicers, investors and other stakeholders know that there are a lot of moving parts in moderating the risks they face every day,” says Steven Horne, Wingspan’s founder and CEO. “By launching Wingspan Insurance Services, we are uncomplicating things for servicers and others so that important insurance concerns don’t fall between the cracks. We help identify insurance problems and inadequacies in small and large portfolios and provide the services needed to minimize unwarranted exposure.”
Wingspan Insurance Services is a result of strategic partnerships with several highly experienced insurance providers with extensive capabilities in financial services insurance products. The new unit is based in Richardson, Texas, near the Wingspan Portfolio Advisors headquarters, and is headed up by Managing Director Vik Jain.
“Vik is a talented professional with over 25 years of domestic and international experience in the insurance industry,” says Horne. “Under his leadership, Wingspan Insurance Services has created an array of offerings that leverage the expertise of our partners and provide excellent protection for our clients.”
“The key to controlling insurance risk on portfolios lies in having a broad range of products as well as the ability to track loans to ensure they are covered properly," says Jain. "Wingspan Insurance Services is designed to perform these roles with a customized approach rather than the more typical ‘one size fits all’ offering,” he explains. “The company has invested in a proven technology to perform the insurance tracking part of the equation, solidifying the strength of the firm’s capabilities."