With used auto prices on the rise how is this impacting auto claim settlements?

May 10, 2011

You will find an interesting article in the WSJ about the shrinking bargains to be found on used cars in this article

This raises an interesting question about what impact this is having on auto claim settlements. Are auto insurance companies still using NADA book prices and or Kelly Blue book pricing to determine ACV? Do those auto valuation tools keep up on a month to month basis to keep up with the market or are they updated only annually?

We’d love to see your comments on this in reply to this blog post, One comment received already says this article is “right on” with the exception it didn’t mention last years Cash for Clunkers program and what additional impact that has had on used car prices.

Update 5/10/11- Here’s an article just put out by Kelley Blue Book giving actual examples of changes in book values due to the rising cost of used vehicles


Vale Tech is now offering a Transportation / Cargo course- Auto adjusters

March 5, 2010

It pays to follow twitter!

I  just learned today that Vale Tech is offering a new course on Transportation claims and cargo claim handling. They just joined Twitter today!

http://www.valetrainingsolutions.com/transportationFleet.html


Just a ClaimSmentor Moment- #10 2009’s Most Dangerous Vehicles

May 26, 2009

I was quite surprised at the cars that made this list published at Forbes based on the Insurance Institutes information on the 10 most dangerous cars for 2009 based on crash performance tests:

http://www.forbes.com/2009/02/06/most-dangerous-vehicles-lifestyle-vehicles_0206_dangerous_vehicles_slide_12.html?thisSpeed=15000


Talk about Making Great Use of Social Media for Claims! Watch these Auto Claim Direct You Tube Videos!

May 10, 2009

I’ve spent quite a bit of time recently researching all of the various social media options available for claims adjusting firms and for independent claims adjusters and we’ve been discussing it in our ClaimSmentor forums. I’d have to say, from the firms I know, that Auto Claims Direct is the most proactive claims adjusting firm with use of social media! They have blogs, sites at Twitter, Face Book, Linkedin, proactive members of ClaimSmentor, and now today I find some training videos on You Tube as well.

Here is a link to their You Tube profile if you wish to follow their videos in your goal to obtain more auto claim adjusting experience.

http://www.youtube.com/user/autoclaimsdirect

Very  impressive Ernie Bray (President of Auto Claims Direct) ! We appreciate your membership and monitoring of our auto claim training forum over at ClaimSmentor too. I don’t know how you find time for it all after reading on one of the social media sites that you now have 850 independent adjusters. I was also convinced of the value of Twitter the other night when my husband who also follows you on Twitter told me you posted late Friday night that the deployment calls from carriers were coming in for the midwest storms. What an advantage that would be to an adjuster with your firm that is ready to deploy if they saw that “tweet” on Twitter and had the heads up to get a call in to let your firm know they are available!

You definitely have my vote for Best at Social Media in the Claims adjusting field. Very very progressive new world! You are right there on top of it all! Deb

To view all of the other social media outlets I’ve found Auto Claims Direct on as a fantastic example of professional ways to use social media for claim adjusting firms you’ll find them here:

Twitter:   www.twitter.com/autoclaims

Facebook: http://www.facebook.com/home.php#/pages/AutoClaims-Direct/58266381164?v=wall&viewas=780383851

Forums-ClaimSmentor www.claimSmentor.com  login id- AutoClaimsDirect

Linkedin: http://www.linkedin.com/in/erniebray

Auto Claims Direct Auto Adjuster Blog: http://blog.autoclaimsdirect.com/     

Their  Property Adjusting Claim Firm: http://www.americanpropertyclaims.com/aboutus.php (and this I didn’t even know until writing this blog)

Thanks for the fine example you are setting for the independent claims adjusting community on dealing with change and setting the pathway to use of new tools available for us all to get the best use of these new social media outlets. Now that is being a ClaimSmentor Mentor Adjusting firm at it’s finest!


Where has the last month gone? Blogs resume 5/8/09

May 7, 2009

It seems to have been a very crazy past month with no time at all for blogging!

The office phones are ringing off the hook with calls from adjusters as they spent a most active month on the road attending claim conferences, carrier certification seminars, and other necessary training.

Our ClaimSmentor forums have been most active with adjusters looking for classes before hurricane season begins and it’s very hard to believe we have less than 30 days before the season begins! My husband was laid off a month ago (plant manager for Ready Mix plant here in Nashville) so it’s been a rough time reorganizing our family plans. He’s made a decision to leave the construction industry due to the current economic situation and has a background in auto. He should successfully complete his course work for his FL adjuster’s license tomorrow we hope then his extensive training begins at Auto claims schools. Let me know if you have any firms you especially recommend! I’ve been doing quite a bit of research and we’ll finalize the decision probably tomorrow.

The majority of the month has been spent proactively enhancing our adjuster services programs for our training firm and business services for adjusters so watch for many new additions at our claim staffing firm site (see About US tab for all contact info). We have also concluded our April 2009 50 Hour Fundamentals of Claims class and already 2 weeks into our May online class. We also held our first claims examiner and claims management classes online this week for those considering progression to those positions. As with all classes I teach, I think I learn as much from the  participants as they are the eyes and ears in the field and always catch me up to date on new trends in the field. We had such a great exchange of information that we have agreed to go many more nights (Tuesdays) to finish up the case review studies of human resource / personnel issues they can expect to face in these advanced roles and general standards they can expect to follow while managing those issues. It was quite informative for us all. We hope you’ll consider registering for our June classes for Fundamentals of Claims and for Claims Management Transition classes.

Lots to catch everyone up on! If you happen to be in Boston, MA- we have a great new daily large loss commercial opening there as of a few hours ago.

More tomorrow!