When it comes to processing a total vehicle loss, carriers are often stymied by the variety of data acquisition challenges, resulting in increased loss frequency and declining customer satisfaction. But what if you, as a claims professional, were able to easily get the information you need to settle a total loss claim in one place, at one time?
In the video below, Omar Nieves, Director, Claims for LexisNexis Risk Solutions, gives an example of what information a claims adjuster must have on a vehicle that may be a total loss, including:
- Is the driver the titled owner of that car?
- Is he or she the registered owner?
- Is there a lien holder on the vehicle?
Consumers are demanding that their claims are resolved quickly, especially in this age of digital transformation and automation. When a busy adjuster must go to different sources to find the necessary information, the cycle time is increased, and customer satisfaction trends downward. Unfortunately, as Nieves points out, innovation in the total loss space has been lagging.
The good news is that LexisNexis® VINsights™ draws from multiple sources to deliver owner data through a single, integrated service that enables you to settle a total loss in near real-time.
Visit our website for more information on how VINsights can help you reduce total loss cycle time and improve the customer experience.