AXA INSURANCE has chosen CAP as its primary supplier of used vehicle values to ensure the most efficient operation of motor insurance claims.
In a new strategic partnership AXA engineers in the field will use the innovative CAP Market Value Manager system to value vehicles via SMS text message, with CAP car, light and heavy commercial vehicle values used centrally to assess motor claims as suitable for repair or total loss settlement.
MVM is a web-based valuation tool that delivers bespoke current used prices instantly via SMS text message and email using vehicle registration look-up.
The accuracy of CAP prices, ease of use and the innovative nature of Market Value Manager, led to CAP being chosen as the company’s primary supplier of used values, according to AXA’s Motor Development Manager, Walter Jones
Walter Jones said: “We see CAP as a progressive company with a market-leading product and we are delighted to be entering into a long term strategic partnership.
“Market Value Manager is an excellent and ground-breaking product, providing quick and accurate valuations enabling us to provide the highest level of service to our customers.”
CAP General Manager, Richard Whittles, said: “We are delighted to have been chosen by AXA, one of the most respected names in the insurance market, as a strategic partner.
“The collaborative nature of our relationship goes to the very heart of what we do at CAP. Our partnership has already led to important input from AXA in the development of Market Value Manager while AXA’s expertise and collaborative approach will ensure we continue to create best-of-breed solutions in the insurance marketplace.”
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Notes for editors
CAP is a premier provider of residual values data, technical information and asset management support systems to the automotive industry. CAP current used car values are widely used as the benchmark for residual values performance across the disposals industry, with major sale results almost universally reported against Black Book ‘CAP Clean’ figures. Similarly, CAP Monitor is the leading residual forecasting tool for the contract hire, leasing, daily rental, finance and insurance industries. CAP also provides data storage and retrieval solutions for leading Internet motoring portals. CAP is part of Emap Ltd, a B2B media group focusing on five main verticals - construction, retail, media, automotive and public sector.
