Image
Icon

Directory

IconAccounting & Tax
IconActuaries
IconAdministrators
IconAppraisers & Valuers
IconArbitration Services
IconASIB
IconAssessors & Loss Adjusters
IconAssist and Lifestyle Benefits
IconAssociations & Institutes
IconAuditors
IconBBBEE Consulting and Verification Agencies
IconBroker Acquisition Financing
IconBrokers for Brokers
IconBusiness Process Management
IconBusiness Process Outsourcing
IconCall Centre Outsourcing & Sales
IconCompany Secretarial Services
IconCompliance
IconConsumer Protection
IconCorporate Governance
IconCredit Bureaus
IconDebit Order Collection Facilities
IconDefensive Driver Training
IconEducation and Training
IconEmergency Medical Rescue
IconFAIS
IconFire, Storm, Flood Damage Specialists
IconForensic Investigation Services
IconHuman Resources
IconIndustrial Cleaners
IconInformation Technology and Software Partners
IconInsurance Companies
IconLegal
IconLightning Damage & Surge Protection Specialists
IconNiche Insurance Products
IconOmbud
IconOutbound Sales
IconOutsourcing Companies
IconPolicy Administration
IconPremium Financing
IconPublic Loss Adjustors
IconPublications
IconRating Agencies
IconReference Books & Material
IconRegulatory Authorities
IconRisk Finance
IconRisk Management
IconRisk Surveyors
IconSalvage Operators
IconSpecialized Claims Investigations & Assessing
IconSurveys and Research
IconTraining Courses & Workshops
IconUnderwriting Managers
IconVehicle Accident Management
IconVehicle and Household Risk Inspection Services
IconVehicle Tracking
IconWellness Programs
IconWholesale Brokers
IconZZZZZZ
Image
  Subscribe To »

Are you familiar with multiple motor repair quotation practices?

Published

2009

Fri

10

Jul

 

Unfortunately accidents do happen, and when they do, most people panic and are worried about both their repair costs and the potential impact on their insurance premium, excess and no claim bonus etc.

 

Give them something less to worry about by offering them a simple, easy way to self assess their damage and empower their claim decisions.

 

By joining our referral network, your clients enjoy a great service, empowering options, and extremely competitive pricing. We can't stop accidents happening, but we can allow you to leverage our system to elevate customer satisfaction, increase process efficiencies and decrease your cost per claim.

 

What prevents a 3rd Party from obtaining inflated quotations?

 

A simple example:

Best of 3 Quotations                  :           R15 000

Assessed Quotation                   :           R10 000

Actual Damage                          :           R 5 000

 

A large number of Insurers/Brokers request the insured/3rd Party to obtain and provide them with multiple quotations if the vehicle is drivable. Only one quotation is required if the vehicle is towed.

 

Instant Estimator is a service where your clients can load photos and a description of the damage to their vehicle onto a website. This information is then sent to independent participating repairers in the selected area. Participating repairers are aware that others will also be doing estimations. This causes the quotations to differ marginally as accurate quotations should. 

 

Repairers are also aware that other repairers are submitting estimations, and the healthy competition is enforced.

 

Almost every accident involves another vehicle. 3rd Party claimants are requested to obtain quotations as the insurer does not dictate where the vehicle is to be repaired. This practice fuels the inflated 3 quotations from one repairer practice.

 

After all, there is only one true cost for a repair…

 

Tracking where the vehicle was actually repaired is almost impossible as payment is made directly to the 3rd Party (Cash in Lieu). The 3rd Party can then take the vehicle to an alternative repairer who repairs the vehicle for the Actual Damage amount or do Inferior Quality Repairs, and gain financially from the claim.

 

As the recession continues, more and more people select higher excess payments and lower premiums, causing a large number of repairs to fall within excess. This also causes the claimant to institute a 3rd party claim to avoid the payment of an excess.  

 

The industry is rife with corruption. We aim to provide an environment where quotations can be freely and fairly requested and submitted. We also aim to empower people to choose to either claim from their insurer or pay for the repairs without submitting a claim due to the various factors. Some of these factors influencing their decision are:

 

  • High excess
  • Loss of bonus
  • Premium increase
 
Source: iOUTsource - Instant Estimator
 
« Back to previous page Print this page » |
 

Breaking News »

Technical Excellence – Principles and Practice

Technical excellence is a term that is often cited in insurance, and especially so in relation to AGCS’s international clients with their complex risk profiles. But while it is frequently used, what does ...
Read More »

  

SAIA Bulletin -  March 2021

From the Desk of the Chief Executive: Viviene Pearson   In ...
Read More »

  

First edition of the Ombudsman’s Briefcase for 2021

In our first edition of the Ombudsman’s Briefcase for 2021 we take this opportunity to wish you a safe and prosperous year ahead. We face this year with a little more hope having emerged from a second wave ...
Read More »

  

POPIA 101

All businesses with employees, customers and suppliers must comply with POPIA, which comes into effect on 1 July 2021. Here is a practical guide to the most important aspects   With the commencement ...
Read More »

 

More News »

Image

Healthcare »

Image

Investment »

Image

Life »

Image

Retirement »

Image
Image
Image
Image
Image
Image
Image
Image
Image
Image
Image
Image

From The Glossary »

Icon

ALBI:

All Bond Index.
More Definitions »

 

Advertise

 

eZine

 

Contact IG

 

Media Pack

 

RSS Feeds

By using this website you agree to the Terms of Use.
Copyright © Insurance Gateway (Pty) Ltd 2004 - 2021. All Rights Reserved.