PROBLEM STATEMENT

Traditionally, insurance companies rely on assessors for the estimation of repair costs which include part prices and labour costs. This in itself is a problem because:

  • It takes close to a week to get a repair estimate when an accident is reported
  • The estimates created are not easily verifiable for accuracy.
  • Historical information for vehicle repairs is unavailable
  • Part lists are manually kept
  • Assessors and garages can collude to give inaccurate estimates causing fraud

PROPOSED SOLUTION

Expaq Repair Estimating System makes the first critical step of the repair process seamless and efficient. This is by:

  • Maintaining a database of parts and updated prices
  • Maintaining a database of labor costs and other miscellaneous costs.
  • Creates estimates that are accurate, verifiable and accepted.
  • Avoid errors with parts look-up, part graphics prints etc
  • Reduces the time to process claims
  • Assessment reports can be uploaded and an accurate estimate of the cost of repair produced as a report by this system
  • Assessors can log their estimates from anywhere

KEY FEATURES

  • 1. Master Data Management

    The system can maintain all forms of applicable master data ranging from internal and external assessors, garages, vehicle models, types, parts, prices e.t.c.

  • 2. Estimate Creation

    The system allows both internal and external assessors to create estimates for repairs after claims have been launched. This process involves adding the damaged parts and the estimated prices, adding other costs like labor, painting e.t.c., adding photos of the damaged parts and attaching any estimates from the garages and submission of the estimates

  • 3. Estimate Processing

    Involves price comparison from different suppliers with these data being derived from the system catalogue. They system will show costs that are

  • 4. Document Generation

    The system automatically generates highly customizable documents based ranging from authority letters, cash in lieu and total loss.

  • 5. Automated Cost comparison

    Based on the parts catalog saved in the system, it is able to compare prices based on different suppliers against the estimate provided by the garage.