California-based ADP Claims Services Group, a provider of information services for the insurance, collision repair and automotive recycling industries, announced the 10 millionth total loss valuation transaction executed by Autosource®, a database of “for sale” vehicle valuation information.
The 10 millionth transaction was processed by Hanover Insurance in Worcester, Mass., by appraiser Bob Nichols on a 1995 Mercury Tracer. The first transaction processed by Autosource was in 1994 on a 1980 BMW 633 by an independent adjuster in Portland, Ore.
The Autosource database is a database of “for sale” vehicle valuation information, with more than 110 million vehicle records entered annually.
It is updated daily with real-world market information gathered from private-party advertisements in more than 3,300 publications and Web sites nationwide and ADP’s electronic dealer inventory program, which collects information from more than 11,700 dealerships. The result is a database updated with more than 2 million vehicles per week.
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