Valuation Use Case
Industry Benefits
Industry Segments
Industry Benefits
- Establishment of an accurate and efficient industry standard - by and for industry participants - to be used in the creation and industry standard implementation of electronic messaging for total loss valuations.
- XML electronic messages provide capability and flexibility for smaller-scale organizations and applications.
- Facilitates the integration of total loss valuation messages exchange.
- Eliminates redundant data entry and other manual processes which allows for improved integration of total loss valuation information across applications.
- Management of the standard by CIECA streamlines development, approval, revision, enhancement and publication.
- Reduction of cycle time
- Reduction/Elimination of phone and fax communications
- Faster total loss vehicle identification to reduce costs (e.g., storage, rental)
- Accurate and efficient industry standards
- Terminology of common terms for industry understanding and enable businesses to compare and improve their operations
- Process Flow Documents that define industry processes and communication points
- Enable comparisons for industry participants
- Standardize message protocols
- Streamline governmental reporting
Industry Segments
Adjustor
Data Recipients
Estimator
Information Provider
Insurance Company
Recycled Parts provider
Salvor
Third Party Administrator
Vehicle Owner and Self-Insured Company
