The insurance industry spends $300 billion a year managing vendors and procuring services for the claims process. 75% of those dollars are spent with third party auto and property related service providers such as repair facilities, rental car companies, property restoration firms, and auto glass installers.
Due to ineffective vendor sourcing and management, and the human errors that are inherent in manual processes and paper-based documentation, it is estimated that more than $30 billion is lost every year. Efficient, effective procurement and management of vendors and services can have dramatic results on policyholder retention, satisfaction and overall resource usage.
At ClaimForce we offer the most complete online procurement management solution in the auto insurance claims industry; our technology enables insurance companies to utilize smarter solutions and gain a competitive edge in the market. The transformation in their claims process results in reduced processing costs, increased customer satisfaction, and decreased cycle time.
To arrange a test drive of our ClaimForce platform, or to see a demonstration of our various auto claim services, contact us at 1-866-219-2177.