CCC Information Services Inc. (CCC) announced the availability of CCC Total Loss Care, a comprehensive digital solution designed to simplify and improve the total loss resolution process and policyholder experience. Total Loss Care uses a range of technologies to digitize processes, connect disparate parties, and inform decisions throughout the total loss process. Namely, the solution […]
IAA Partners with NASCAR to Expand Capacity for Catastrophe Services
IAA, Inc. (NYSE: IAA) and NASCAR Enterprises, LLC., announced an exclusive agreement that further increases IAA’s catastrophe capacity footprint by enabling the vehicle auction firm to leverage NASCAR facilities for total loss vehicle storage after a catastrophe.. The agreement expands an already long-term relationship between the two organizations. In addition to the company’s other catastrophe […]
IAA and Snapsheet Announce Total Loss Process Automation Partnership
IAA, Inc. (NYSE:IAA) and Snapsheet announced an integrated partnership combining IAA’s total loss claims and salvage solutions with Snapsheet’s configurable claims management platform to create one seamless solution from first notice of loss to sale at auction. The combined offering will reduce the time it takes insurance carriers to process claims for total loss vehicles. […]
Kansas Legislation Seeks to Remove Airbag Replacement Costs from Total Loss and Title Branding Calculation
A bill supported by the Kansas Auto Body Association seeks to add airbags to parts excluded from total loss and title branding threshold. Legislation introduced in Kansas seeks to limit the impact the increase in the number of airbags installed by vehicle manufacturers in late model vehicles has on the total loss and title branding […]
Chubb to Wipe Insureds’ Personal Digital Data on Total Loss Vehicles
Chubb has launched a new exclusive service to help personal auto clients remove sensitive electronic information from their vehicles in the event of an insured total loss. To identify relevant information after a total loss, technicians will scan locations and wipe necessary systems on Chubb insured vehicles, subsequently clearing GPS, mobile contacts, text messages, and […]
CARFAX Announces New Total Loss Valuation Service
New service provides insurers with ability to use CARFAX data to establish total loss values. Carfax announced that a new insurance total loss valuation service is now available through its claims-centric web portal. The new product helps total loss adjusters determine a vehicle’s unique pre-accident value using Carfax’s VIN-specific History-Based Value. Carfax utilizes pricing data […]
Total Loss Valuation Class Action Lawsuit Filed Against Allstate and CCC in Alabama
Suit alleges auto insurer undervalues total loss claims using CCC’s software. In a Federal Class Action lawsuit filed in Alabama on Wednesday, plaintiffs allege that Allstate Insurance systemically undervalues automobile total loss claims using CCC ONE Market Valuation Reports. The complaint alleges that Allstate and CCC have engaged in a scheme to artificially deflate the […]
Massachusetts Auto Lender Alleges CCC Understates Total Loss Values
Boston news radio station reports allegations of systemic low valuations on total losses. Repair association hopes Division of Insurance examines shop and insurer estimating platforms. According to a report by Boston radio station WBUR, the Massachusetts Division of Insurance is investigating allegations by Source One Financial Corp., a Norwell, Mass. auto lender that CCC Information […]
NuGen IT Total Loss Workbook Adds Commercial Vehicle Settlement Across U.S.
NuGen IT announced the expansion of its Total Loss Workbook to include commercial vehicle calculations for total loss settlements. The calculations are state-specific for the 50 states and Washington D.C. to meet all of the statutes and regulatory requirements for the Department of Insurance (DOI) and Department of Motor Vehicles (DMV). The Total Loss Workbook […]
Allstate Reports Auto Policies in Force Up in Fourth Quarter
Allstate brand auto net written premiums up 5.7 percent in 2018. Sees increase in total losses on newer vehicles due to increased part cost, technology and repair complexity. The Allstate Corporation (NYSE: ALL) reported financial results for the fourth quarter and full year of 2018. “Allstate continues to deliver strong operating results while building the […]