Claims Business: Premiere Services, and BitSight

August 8, 2022
Cat-Converter Thefts Focus of New Claims Service

Premiere Services, a provider of mobile aftermarket auto audio and entertainment systems and wheel replacements, has launched a new business that will focus on replacing stolen catalytic converters.

The company, based in Santa Fe Springs, California, said its new Cat-Converter Express service is the insurance industry’s first dedicated “white glove” national program for catalytic converter theft repair and replacement.

The company said catalytic converter thefts are up 33% this year from the previous year.

“Catalytic converter thefts are an increasingly common story in the news these days. And while a thief can remove a catalytic converter and be gone in just over a minute, for the insurer, this is a nuisance claim that can require multiple hours over days or even weeks to resolve,” Mark Puente, CEO of Premiere Services, said in a press release. “Our Cat-Converter Express program eliminates the hassle and gets these claims off the desks of busy adjusters by coordinating and streamlining the entire process for them.”

Premiere Services said services include towing, estimating, quality control, repair and delivery. The company said it has been able to repair 98% of all vehicles referred to tis Cat-Converter Express program since the service was launched in August 2021. The service is tied into all major estimating programs, including CCC One and Mitchell Connect. Teams Up with ClaimDeck, which offers a cloud-based litigation-management platform, has teamed up with ClaimDeck to manage the settlement process.

Charlee said said its product inspects all sources of data within a claim file to predict which claims will require litigation and attorney involvement. The San Francisco-based company said it will now send that data to ClaimDeck using an application program interface (API) for mitigation and management of the settlement.

ClaimDeck, based in Dallas, captures more than 500 categories of data that contribute to the predictive analytics effort and reduce legal and indemnity spend and average case life, the company said.

“This partnership ensures insurers will be able to more accurately predict which claims have the highest likelihood of litigation to ensure settlement and it is, therefore, easier to proactively manage the process to mitigate soaring loss costs,” Charlee Chief Executive Officer Sri Ramaswamy said in a press release.

BitSight Acquiring ThirdPartyTrust

BitSight, a Boston-based company that helps businesses manage their cyber risks, is planning to purchased ThirdPartyTrust, which automates the processes of vendor assessment and onboarding.

Integrating ThirdPartyTrust into its existing third-party risk management platform will allow BitSight to offer an end-to-end third-party risk management platform, the company said.

Risk managers must assess cyber risk quickly across their entire third-party ecosystem, the company said in a press release. However, many businesses still use slow, manual assessment processes.

“By integrating ThirdPartyTrust into our existing TPRM offering, we are providing them an integrated tool to better collaborate and share important cyber risk information across an ever-growing community of stakeholders involved in the management of cyber risk,” stated BitSight Chief Executive Officer Stephen Harvey.

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