ADP Claims Services Group announced that its new ClaimsFlo Salvage Network, a single, integrated connection that routes salvage-management messages between a carrier’s claims system and the management systems of major salvors, has facilitated more than 6,500 transactions since its inception in February 2005.
The only network that reportedly offers access to all three major U.S. salvors through a single connection, ADP ClaimsFlo Salvage Network allows carriers to avoid the cost and effort previously required to maintain separate electronic links with multiple service partners.
The ClaimsFlo Salvage Network integrates with a carrier’s claim system to automatically generate salvage assignments and directs them electronically via ADP to the appropriate salvor. Salvage updates created by the salvor’s management system are then routed back to the carrier. The system also accommodates manual assignments.
By offering simultaneous access to three of the largest salvors – Insurance Auto Auctions (IAA), ADESA and Copart – ADP reportedly enables carriers to substantially increase their productivity by reducing the time it takes to process a claim from approximately seven minutes to just 30 seconds – a 93 percent reduction.
In addition, the system allows carriers to dispose of cars more quickly, reducing storage time by 10 percent, which translates into an average savings of $12.50 per vehicle in storage fees.
By using information in the carrier’s claim system to populate salvage assignments, ClaimsFlo reportedly reduces the occurrence of data entry errors resulting from the manual transcription of data from one system to another.
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