MATERIAL DAMAGE MANAGEMENT IN MOTOR INSURANCE

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Claribel Morgan
8 years ago
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1 MATERIAL DAMAGE MANAGEMENT IN MOTOR INSURANCE Centro de Experimentación y Seguridad Vial MAPFRE C/. Jorge de Santayana, Ávila Tfno.: ingenieria@cesvimap.com

2 INDEX 1. MATERIAL DAMAGE MANAGEMENT IN MOTOR INSURANCE 2. HOW CAN CESVIMAP HELP INSURANCE COMPANIES TO REDUCE CLAIM COSTS? 3. CONSULTANCY 4. TRAINING 5. WORKSHOPS CLASSIFICATION. TQ CESVIMAP 6. REPAIR AND PAINT TIMES SCHEDULES 2

CLAIM COSTS? 3. CONSULTANCY 4. TRAINING 5.

3 1. MATERIAL DAMAGE MANAGEMENT IN MOTOR INSURANCE To meet its goal of profitability the auto insurance companies have to meet the expectations of its customers offering good prices. The insured customer perceived service quality, in the first place, as a fast and effective management of the claim and a minimal deprivation of the vehicle: quick repairs. Then, also appreciates things like courtesy vehicle, repair quality, free choice of workshop and others. Good management make possible to increase customers satisfaction while reduce the compensation cost of material damages. There are two keys to achieve this: Reduction of internal and handling costs. Effective management of suppliers. The internal cost reduction is achieved mainly by simplifying the process and relying on a powerful IT system. The supplier cost management involves: Good selection method. Fast and effective communication system between the company and the suppliers. Control of the activity (including fraud prevention) The main suppliers are: Experts. Workshops. Call centers. Road Assistance companies (cranes, ambulances, taxis). The experts to be effective must be trained in the repair methods, the use of the computerized estimating technologies and the use of time schedules. 3

Then, also appreciates things like courtesy vehicle, repair quality, free choice of workshop and others.

4 The workshops must be updated to the latest repair technologies applicable to modern vehicles and have professional management system for an easy communication with their customers, mainly insurance companies and their own suppliers: spare parts sellers, etc. Call centers must have IT systems capable of handling a large number of consultations and services in a minimum period of time, and very well technically trained people able to deal with the client to achieve a friendly and efficient communication in all type of situations. Road assistance companies must be managed so as to be able to act in minimum time and offering the customer the softer side of the world being the first representative of the insurance company that interacts with them in the most difficult situation: when the accident or the breakdown occurred. To be successful in these areas is necessary to have the specific know how needed in all the aspects of the service and to manage a team of very well trained people. 4

Call centers must have IT systems capable of handling a large number of consultations and services in a minimum period of time, and very well technically trained people able to deal with the client

5 2. HOW CAN CESVIMAP HELP INSURANCE COMPANIES TO REDUCE CLAIM COSTS? CESVIMAP is a pioneering center in the world in researching for automobile repair industry. It was created in 1983 for MAPFRE Insurance Company in Ávila, Spain, with the objective for helping the company to control the cost of the motor claims. So, CESVIMAP offers to the car insurance industry four main services: CONSULTANCY TRAINING TIME SCHEDULES WORKSHOPS CLASSIFICATION. TQ CESVIMAP PRIMAS INGRESOS GASTOS DE EXPLOTACIÓN SINIESTRALIDAD TÉCNICA GASTOS Gastos de gestión y tramitación Impuestos,... Gastos internos Gastos externos Indemnización daños materiales 5

So, CESVIMAP offers to the car insurance industry four main services: CONSULTANCY TRAINING TIME SCHEDULES WORKSHOPS CLASSIFICATION.

6 3. CONSULTANCY The CESVIMAP consultancy service adds value to insurance companies in the management of damage to your auto insurance. Based on an analysis of the efficiency of processes and the amounts of compensation, it will be proposed a plan for improvement in: CAR INSURANCE COMPANY PROCESSES Management and processing of claims: - Notification of loss for insurance company - Processing of claim - Notification and information for the appraiser - Appraisal methodology - Indemnity and claim paying - Closing of claim file Structure of appraisal team (internal / external) Assessment appraisal intervention (internal / external) - Vehicle identification - Inspection and damage analysis - Calculating the repair cost - Tracking repair process,... Tools for calculating the repair cost. Review and control of appraisal s report. Control appraisal team. SUPPLIER S MANAGEMENT Reviewing and control of repair budget Monitoring of the repair process Communication between Insurance company / Appraiser / Workshop Customer satisfaction Selecting a net of workshop suppliers 6

claims: - Notification of loss for insurance company - Processing of claim - Notification and information for the appraiser - Appraisal methodology - Indemnity and claim paying - Closing of claim

7 4. TRAINING Training is a way of profitability for the company which can increase the value of the services offered, to create independence and a higher level of responsibility, to explore new areas and, at the same time, it is a way for motivation and retention of talent. TRAINING FOR APPRAISERS Appraisal methodology of damages Financial evaluation of car damages Financial evaluation of other vehicles damaged: motorbikes, utility vehicles, vans ) Fraud detection Appraiser reports Specialist in: Traff - Truck and Industrial Vehicles - Motorbikes 7

8 5. WORKSHOPS CLASSIFICATION. CESVIMAP The insurance company pays repairs to workshops according to a quality standards and a specific service. But, the customer ends up getting the quality that really has paid the insurance company for?. The repair shop qualification TQ CESVIMAP is an independent warranty which prove to third parties, customers, suppliers and competitors that appropriate procedures are followed to ensure the quality of the final results. ADVANTAGES FOR INSURANCE COMPANIES To have unique criteria for selecting suppliers. Knowledge and classification of workshops network providers. Cost savings. Ensure customer satisfaction. To contribute to customer loyalty strategy. 8

. The repair shop qualification TQ CESVIMAP is an independent warranty which prove to third parties, customers, suppliers and competitors that appropriate procedures are

9 6. REPAIR AND PAINT TIMES SCHEDULES The alternative to replacing a car body part is to repair it: professional appraisers have to make a subjective estimate about repair, and painting times, and the cost of paint products. CESVIMAP, has been researching and analyzing repair processes and times for more than 30 years. Result of this work is the development of the Repair Times Schedule and Times and Painting Materials Schedule. Its use allows unifying criteria, eliminating subjectivity and facilitating understanding between the expert and the workshop. 9

CESVIMAP, has been researching and analyzing repair processes and times for more than 30 years.

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