CAP have a long history of supporting the Motor Insurance Sector who look to us to create a trusted and accurate valuation to support their claims management processes. To have confidence in the valuations delivered knowing they have been independently and specifically shaped to create a total loss settlement is critical for any Insurer.
Claims management is only one area that CAP can deliver a solution to the Insurance Sector. Our data can be used to support consumer policy/quotation creation, to analyse policy risk and potential claim exposure, to support a First Notification of Loss (FNOL) process and to help deliver consumer value add/advice services through our Total Cost of Motoring (TCM) product.
- CAP are recognised by the Financial Ombudsman Service, delivering valuations to support the resolution of claim disputes
- Market Value Manager (MVM) – A CAP system designed to deliver complete control of total loss settlement values
- A dedicated 'face to face' account managed service to help deliver both operational and cost efficiencies for our customers
- Helping motor insurers to Treat Customers Fairly (TCF) by delivering accurate, fair and transparent valuations to consumers
Market Value Manager is a system designed to deliver accuracy, consistency and control over the creation of total loss settlement values for Insurance companies. MVM is unique in its approach to deliver evidence based valuations and transparency for customers to ensure that a fair and reasonable market value has been assigned to their written off vehicle.
This in turn helps insurance companies deliver:
- An 'end to end' total loss claims solution in one system
- Cost visibility and control to support key efficiencies
- Internal operational benefits
- Reduced claim times and Ombudsman referrals
- Increased customer satisfaction
MVM delivers the following key functionality:
- A single web based platform creating valuations on used car, LCV, Motorcycle, HGV and Imports
- Vehicle Registration Mark (VRM) lookup functionality on all used cars and LCV vans
- Car and LCV images
- Historic valuations up to 3 years old
- Visibility of comparable 'live' researched 'For Sale' vehicles to provide valuation credibility and benchmarking
- Vehicle purchase point valuation adjustments
- Full vehicle specifications with valuation adjustments on key extras
- Pre-accident condition adjustments
- Comparisons to other valuation providers
- A claims management tool to support a structured team environment
- Key management information to support visibility, control and measurement
MVM is powered by the following CAP datasets:
- Black Book Platinum (used car)
- Red Book Platinum (LCV and HGV)
- Green Book Platinum (Motorcycles)
- Grey Book Windows (Imports)
The Platinum data set contains valuations from 1 month old and covers registrations going back as far as 20 years at mileage points from 1,000 up to 250,000 miles relative to the age of the vehicle. Inclusion of a vehicle is subject to the availability of research data. Platinum also contains valuations for plates available within 6 months of introduction and discontinuation.