Market Value Manager is a system designed by CAP to deliver accuracy and control over the creation of total loss settlement values for Insurance companies. MVM is unique in its approach to deliver market adjusted valuations for Insurers to ensure that a fair and reasonable value has been assigned to customer write offs.
MVM supports a move from consistently settling on a retail value and considers the vehicle’s purchase point, factory extras, condition and mileage before a settlement value is finally delivered. This in turn supports insurance companies with:
- A web based “end to end” total loss claims solution in one system
- Claim cost reduction, visibility and control
- Internal operational efficiencies
- Reduced claim times and Ombudsman referrals
- Increased customer transparency and satisfaction
Whilst MVM continues to deliver key valuation services to the insurance industry CAP have recognised with the support of our customers that further enhancements to this system would support increased efficiency in this space. To this end over the coming months CAP are looking to upgrade MVM.
The upgrade will include the ability for claims handlers to reference live vehicles currently “For Sale” on forecourts in the UK and compare valuations. An estimated 200,000 vehicles will be available to view through key partner sources which will help evidence the settlement valuation created for the customer. This function can also be used to help the customer find a new vehicle to buy in a bid to promote key service delivery and repeat business.
A PDF output document of the settlement value is planned to help deliver increased evidence and transparency for Insurance customers. This PDF will include the vehicle image, spec information, settlement value and creation process, For Sale references and many other relevant data items.
CAP are also looking to enhance the current Management Information (MI) section of MVM and for the first time deliver an output of this functionality to promote key control and visibility of all critical valuation data. This is useful for measuring settlement savings, costs, timescales and handler KPI’s. As a further enhancement through a dedicated Insurance Key Account Manager, CAP are looking to deliver “face to face” data/savings/valuation reviews for all MVM users to help Insurer’s deliver both cost and operational efficiencies in this area.
This is an exciting time for CAP as we move forward with our plans to enhance our customer experience whilst continuing to deliver market leading automotive data services. Enhancements to our MVM system represent a leap forward for CAP to ensure that our Insurance customers are delighted with the services we deliver.
Should you wish to explore how MVM can support your business needs then please contact Scott Chandler the CAP Insurance Key Account Manager who will be delighted to meet with you to discuss your requirements.
For more information on Market Value Manager click here.
Scott Chandler, Insurance Key Account Manager
Mob: 07525 989740
Tel: 0113 222 2000
Fax: 0113 222 2001
Email: scott.chandler@cap.co.uk
Address: CAP Automotive, Capitol House, Bond Court, Leeds, LS1 5EZ
