Depending on the catastrophe activity and incidence of vehicular accidents, a large insurer may process an excess of 100,000 total loss auto claims in a given year. This translates to a six-digit opportunity to recoup a portion of claims payouts while fostering good will with customers.
From the perspective of a total loss, the assignment of salvage must be made as early as possible, preferably at FNOL. This, of course, requires the insurer to swiftly categorize the vehicle as a total loss after weighing factors such as the age of the vehicle and extent of damage inflicted.
Partnering with the right salvage specialist represents half the battle. As we'll discuss, insurers must also employ the appropriate technology platform to optimize work flow in order to avoid unnecessary bottlenecks and towing expenses.
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