ACV Online
ACV Insruance Services has taken it's products to the web. Not for glory, but for efficiency. ACV Insurance Services has always been the frontrunner in developing adjusting software for the insurance industry. Once again, it has placed itself ahead of the pack. We now host fast and secure web-based applications connecting all parties involved in the claims process. Until now, the customer and the adjuster were held apart by lack of communication and trust. ACV Online gives insurance companies the opportunity to have their policyholders file personal property claims online directly into an adjusting tool, retain control of evaluations, and review files. Policyholders use the online application to view their claim inventory, make comments on individual items or valuations, and accept claim settlements. Consumers at large, can establish asset inventories of their personal or business belongings and store their information at our secure online data server. In the event of a loss, they can import any or all of their asset inventory into the ACV Online claims tool for processing. Finally, ACV Online is leading the way, connecting policyholders, insurance companies, and retailers in the claim valuation and replacement procurement process.
How does having the retailer involved help process and settle claims?
Retailers, insurance companies, and policyholders have traditionally worked independantly. ACV Insurance Services is making it possible for all three to come together to value and replace items online. Soon carriers will be able to value lost items
in real time, accessing live databases of several major retailers and suggest a variety of acceptable "like kind and quality" replacement items to their policyholders. Policyholders will be able to "view" a suggested replacement product, choose one or another product, and approve the purchase of products directly online from these retailers. They avoid the pitfall of having to replace at their own risk, or through a single insurance replacement service. Customer satisfaction, ease of replacement, and timely claim settlements will all improve dramatically.
Can insurance companies improve their performance with ACV Online?
Absolutely! ACV Online is fast, intuitive and cuts the time of valuation at least in half. Most users first question revolves around the time required to data enter a loss. However, the biggest time consuming element in claims processing is valuation of lost items. ACV Online couples its 55,000 item database with direct connections to online retailers for the most comprehensive access to pricing yet possible. Literally hundreds of thousands of products are now available without ever picking up a phone, catalog, or logging on to search the internet. Retail site identification and product categorization are done for you by our program. Valuation efforts bring back more choices than ever. Choices are refined by attribute searches, allowing any user to identify proper replacement products. This allows those users who do not have significant understanding of product features or functions to find "like, kind and quality" pricing.
But how does insurance company efficiency translate to customer satisfaction?
What do policyholders want? A chance to participate. The opportunity to purchase "like kind and quality" replacement items without risk. Faster settlements of claims. ACV Online allows the insurance company to provide all of this, and more! The policyholder can actually enter their own claim, and submit it electronically to their insurance company. The adjuster can review and value the loss immediately upon receipt without the usual pain of data entry and valuation. Adjusters can suggest many suitable replacement items, which are available to be purchased online immediately. Claims can literally be settled in hours instead of weeks. Bottom line is a win-win for all. Policyholders experience openness, speed, and fairness. Carriers enjoy customer retention, great word-of-mouth advertising, and tremendous adjusting expense savings.
How about expense? Is this product going to cost more money?
How about less? ACV Online is web-based. This means that ACV houses and
maintains the application in a secure facility with its own staff of programmers, database administrators, and network managers. An insurance carrier needs minimal IT involvement (except to bring the internet to the adjuster's desktop or laptop). Upgrades and enhancements are instantaneous and complete throughout the application. That means there is no time lost rolling out upgrades, and every one is working from the most current version. And the best news…….You only pay for the claims you process! No more, no less!
ACV Insurance Services Inc., 19110 Bothell Way NE, Suite 206, Bothell, WA 98011-2970. Tel: 800-228-6672; Fax: 425-482-0578.