Highest auction returns continue
As this year continues to present challenges for the UK, used vehicle demand remains particularly strong. This increased demand means our auctions continue to provide outstanding returns on our customers vehicles, and our vehicle management experts continue to carefully manage stock levels to ensure that our customers keep seeing the benefits of this period of particularly strong demand.
In addition, our member base continues to grow despite local and national restrictions, demonstrating the strength of both our auction and member proposition. We have recently enhanced our member registration process to make it quicker and easier than ever before for new members to sign up to bid and buy your vehicles.
It’s so important to make sure you have the slickest processes in place to gain the maximum value at auction and moving the vehicle through the claims process as quickly as possible is not only beneficial to the customer journey but also reduces claim cost and maximises the value of your asset. Once you have made the decision that it is a total loss we can manage the rest of the claim for you through our dedicated engineering and claim settlement services.
Straight to Salvage (STS) – frictionless and most cost effective routing
Decision making is pivotal – making the right decision is key to delivering:
- Reduce claims cost
- Reduce cycle time
- Deliver a better customer journey
- Create maximum value
The most important decision is to repair or total loss a vehicle, and it is critical to get this right. As always, our objective is to continually support you in creating value throughout the process, so you can realise the best possible returns.
Getting the STS decision right at FNOL can save you up to £300 per claim.
We have worked with many of our customers looking at opportunities to increase their STS cases to support reduced claims cost – and we will continue to do so. We understand that one sizes doesn’t fit all, and we can support you with on-going reviews of this process, and identifying opportunities by:
- Sharing data
- Support with decision making
- Identifying those vehicles where you can maximise the most value
Please contact your National Account Manager for more information.
Engineering and Claims Settlement Services – A streamlined customer experience
Once the vehicle has been identified as total loss and assigned to us we then collect and inspect the vehicle and provide you with an engineer’s report.
We have the largest AQP engineering team in the salvage UK market, and we have seen a 33% increase in inspection requests over the last twelve months, demonstrating that this service is becoming more a more in demand from our customers, providing quick decisions, reduced claim cost and quicker cycle times.
Claims Settlement Service
Our claims settlement service is a natural extension to our engineering service. The end-to-end service from collection through to claim settlement includes the ability to make settlement payments directly to your policy holder, keeping everything in one place. We provide you a packaged total loss claim service, removing unnecessary hand offs within the process.
Customers using our claims settlement service benefit from:
- 84% of claims agreed on first call
- 90% settlements are agreed within 24 hours of notification (day one) or availability of the engineer’s report
- Indemnity checks in place to protect your spend
- Ability to enter the category onto MIAFTR
- Integrated Private Plate and Finance Management as part of the claim service
- Settlement payment made direct to the policy holder
Find out more about our services through the links below:
All these services are now under one roof
We recently announced that due to the success and growth of our engineering and claims settlement services that we provide, we have invested in a brand new customer excellence centre which will allow our teams to continue to grow, and most importantly, provide an outstanding service to our customers.
These services provide a full end-to-end vehicle valuation and claims settlement solution, with both teams working closely together to make sure your customers have a great customer experience, and each claim is settled quickly, with the best outcome for all involved.