EurotaxGlass's is developing a software package to manage the valuation of written-off vehicles.
The system, which will be launched in the second quarter of 2006, is designed as a 'one-stop shop' that will allow claim settlers to generate valuations that accurately reflect the pre-accident condition of vehicles.
Iain Burkinshaw, EurotaxGlass's business development manager, said: “Many motor insurers have reluctantly become accustomed to extended settlement periods — up to 80 days for some total loss claims — dramatically increasing their administrative costs and reducing customer satisfaction.”
Burkinshaw added that policyholders are often confused about pre-accident valuations: "We feel that this can be addressed by the introduction of a transparent and independent valuation mechanism, speeding the calculation and settlement of total loss claims."
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