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Mitchell, an Enlyte company and leading technology and information provider for the property & casualty (P&C) claims and collision repair industries, announced that its advanced vehicle valuation solution now delivers full lender coverage and automated tax and fee calculations for total loss claims. These enhancements are designed to streamline the total loss settlement process for carriers by integrating Mitchell’s advanced WorkCenter platform with market-leading technologies from LossExpress and Claim Toolkit.
“Mitchell is absolutely committed to automating and expediting the claims process for our customers,” said Debbie Day, executive vice president and general manager of Mitchell’s Auto Physical Damage division. “By joining forces with LossExpress and Claim Toolkit, we can help insurers reduce settlement cycle time — allowing them to provide better, faster and more accurate outcomes to their policyholders.”
Mitchell WorkCenter Total Loss combines the company’s best-in-class physical damage claims handling solutions with J.D. Power data analysis and pricing techniques to generate fair market values for vehicles declared a total loss. Integrating the LossExpress technology with WorkCenter Total Loss gives U.S. and Canadian carriers access to the largest active lienholder network and lender coverage for loan payoff amounts. It also offers document procurement for all finance, vehicle and asset types within Mitchell’s cloud-based solution as well as access to electronic lien and title information.
“We collaborate closely with both Mitchell and LossExpress,” said Mark Mitchell, state physical damage manager of Texas Farm Bureau Casualty Insurance Company. “The integration between the WorkCenter Total Loss and LossExpress solutions is a natural fit for settling total loss claims quickly while meeting our customers’ expectations for an efficient claims experience.”
Through the integrated WorkCenter Total Loss and Claim Toolkit platforms, U.S. insurers have the ability to accurately and automatically calculate state-specific taxes and fees for total loss settlements. They can then use WorkCenter Total Loss to export a market value report along with a more detailed breakdown of the applicable taxes and fees for that particular loss vehicle. Automating this process assists carriers in decreasing settlement time and increasing customer satisfaction.