Innovative New Management System for Total Loss Vehicle Valuation Offers Customers an Expedited and Transparent Settlement Process
San Diego – March 25, 2015 – The integration of Total Loss Manager with the Autosource® total loss valuation platform from AudaExplore™, empowers insurance carriers to provide measurable improvements to total loss settlements that increase customer satisfaction.
Using Autosource, total loss claim professionals are able to provide customers with fast, fair and accurate market-driven vehicle valuations. The combination of Autosource with Total Loss Manager allows carriers to further expedite the settlement process by providing total loss claim representatives, agents and appraisers with a streamlined workflow system, and the tools needed to help their customers better understand their settlement.
Since its introduction in 2011, Total Loss Manager has been used by hundreds of claims staff, agents and appraisers. Within just a few weeks of deployment, representatives report having more time to focus on their customers instead of process related activities. One top U.S. insurance carriers implemented Total Loss Manager and has since seen first-call settlements increase three percent thereby allowing claim representatives to reinvest time saved into customer service and claim resolution.
“We see a sustained improvement in our same day settlement and have recently benefitted from the integration of Total Loss Manager with our vehicle replacement program, allowing us to offer our insured customers a quick path back on the road,” said a senior manager at a U.S. insurance carrier.
The clear and concise Consumer Valuation Report can be easily accessed in the AudaExplore Driver Experience web portal, connected to Total Loss Manager. This ready access provides transparency to the process and increases engagement with the customer, resulting in maximized efficiency and improved claim resolution rates. Because of the efficiency gains, another carrier was able to retain a high average settlement rate even during the peak winter season when claims can increase by more than 25% while working days decrease.
“We worked with many carriers over a period of two years to design our Total Loss Manager solution specific to the needs of total loss professionals who want to build customer trust and satisfaction within the claims process,” said Tanya Elkins, Vice President, Valuation and Identification Solutions at AudaExplore. “Our mission is to provide customers with the technology they need to produce the most trusted and accurate valuations so vehicle owners can be confident that their claim settlement is based on fair and accurate market data and experience an efficient claims process in respect to their time.”
Total Loss Manager includes:
For more than 40 years, AudaExplore has provided integrated solutions that enable insurance carriers and repairers to run a more profitable and productive business, while creating uncommon experiences for their customers. Additionally, AudaExplore’s proven data-driven solutions help insurers streamline the claims process—from first notice of loss to settlement. At each step in the claims process, AudaExplore offers products that dramatically improve efficiency and increase policyholder satisfaction, putting vehicle owners back on the road safely, and in record time.
As owners expect greater service throughout the life of their vehicle, AudaExplore helps businesses reimagine the ownership experience through its proven data-driven solutions. By delivering global data, easy-to-use technology and deeper insights into the ownership lifecycle, AudaExplore is leading the industry in making insurance carriers, repairers, dealerships and fleet owners more competitive and profitable. AudaExplore is a business unit of Solera Holdings, Inc. (NYSE: SLH), a leading global provider of risk and asset management software and services to the automotive and property marketplace, including the P&C insurance industry. For more information, visit www.audaexplore.com, or follow us on Twitter at @AudaExplore_.
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