Comparable Vehicle Build Sheet Data Improves Total Loss Accuracy and Claim Settlement Times
San Diego, CA – June 14, 2016 - Mitchell International, a leading provider of technology, connectivity and information solutions to the Property & Casualty (P&C) insurance industry and their supply chain partners, today released the latest version of the WorkCenter™ Total Loss solution. The latest version integrates vehicle build sheet data when identifying the exact trim and options on available comparable vehicles, resulting in more accurate vehicle values.
“At Mitchell we’re constantly challenging ourselves to think creatively about ways to deliver greater value to our customers, and the latest version of WorkCenter Total Loss does just that,” said Paul Rosenstein, Vice President of Product Management at Mitchell. “The revamped WorkCenter Total Loss is a significant advancement to our vehicle valuation solution and we are ecstatic about delivering it to our valued customers.”
The WorkCenter Total Loss solution leverages select vehicle manufacturer’s build sheet data to identify the options and packages specified to be on vehicles when they rolled off of the production line. This significant enhancement results in more accurate vehicle values by finding comparable vehicles that best match the loss vehicle. Build sheet data also limits the adjustments to the comparable vehicle’s stated price to match the configuration of the loss vehicle.
With the implementation of comparable build sheet data to WorkCenter Total Loss, vehicle valuations can be more accurate, efficient, and productive. Full advantages of this enhancement, with the addition of build sheet for the loss vehicle, include:
- Automated comparable vehicle selections that are a much closer match to the loss vehicle
- Reduction of the time required to be at the vehicle during the inspection
- Users no longer need to make interpretations regarding a loss vehicle’s specific configuration / trim level and the factory installed optional features and packages
- Reduction in inaccuracy caused by typos or lack of detail
For more information about Mitchell’s WorkCenter Total Loss solution please visit: http://www.mitchell.com/products-services/physical-damage-claims-management/total-loss
About Mitchell International
Headquartered in San Diego, California, Mitchell International, Inc. is celebrating its 70th year of enabling better business outcomes for its Property & Casualty customers and supply chain partners. Mitchell delivers smart technology solutions that simplify and accelerate claims handling processes, driving more accurate, consistent, and cost-effective resolutions. Mitchell integrates deep industry expertise into workflow solutions, which provide unparalleled access to data, advanced analytics and decision support tools. Mitchell's comprehensive solution portfolio and robust SaaS infrastructure connect its customers in ways that enable tens of millions of electronic transactions to be processed each month for more than 300 insurance companies and over 30,000 collision repair facilities across the Americas and Europe. For more information, please visit http://www.mitchell.com/