Q&A with Rick Evans, Vice President of CCC Intelligent Solutions Render Services

Software as a Service (SaaS) Provider CCC Intelligent Solution (CCC) We provide auto claims solutions to insurers, automakers, collision repair shops and parts suppliers to streamline the claims and repair process. More recently, the company has brought lenders on board to connect networks of lenders and auto insurers and exchange documents that can streamline the total loss process.

Rick Evans, vice president of render services at CCC, said: auto finance news Discuss the company’s software and expansion into car lending. Below is an edited version of that conversation.

AFN: CCC Software has traditionally supported the claims process. Where do auto lenders fit in that process?

Rick Evans: CCC processes more than 4 million damages claims each year. When vehicles are declared total loss, about half of them have a lien associated with them. CCC’s Total Loss Care – Lienholder Portal connects insurers and lenders to digitally exchange documents and data for faster settlement. Over 300 insurers rely on CCC every day to help process claims. Lenders communicate with participating insurers to receive early notice of losses, efficiently exchange documents to settle existing loans quickly, and minimize the chances of customers falling behind in payments. can do. It can be a very stressful and confusing time when a consumer has an accident and has to deal with the vehicle in total. As such, both lenders and insurance companies have a vested interest in satisfying loans, closing vehicle claims, and returning consumers to their original condition. road. Our Lienholder Portal helps lenders proactively manage their claims process and deliver a streamlined customer experience.

AFN: How How does the technology work and what efficiencies does it offer?

Date and time: Traditional processes are very outdated.It’s a manual process for backing When Phone, email and even fax. CCC Total Loss Care – Lienholder Portal digitizes these manual, high-touch processes and transforms them into automated workflows. Going digital helps lending teams spend less time on the phone. Designed to minimize these touches and reduce cycle times from weeks to just days. What we do is give lenders access to the CCC portal where insurance adjusters work, enabling real-time data exchange and communication. And by helping reduce cycle times, lenders can turn customers back on faster and turn unfortunate events into positive experiences.

AFN: Are there integrations? Do you use the Guaranteed Asset Protection Exemption (GAP)?

Date and time: a gap exemption In fact, it is a real extension from the total loss process. Our portal can identify if a loan has negative equity or if it meets the loan. If the claim has negative equity, it gives her the opportunity to start the GAP process early. There are many documents that need to be collected for GAP claims, many of which are already posted on the portal. There is a GAP module that helps in the workflow of the Total Loss Portal.

AFN: Are you working on new software or solutions in development for the auto finance industry?

Date and time: The synergistic effect with insurance companies and autolenders is significant. As the cost of vehicles is rising, the percentage of vehicles with a lien is higher. When I talk to lender customers, they say they have a lot of data from insurance companies that they would like to see. Software that is mutually beneficial for both insurers and lenders. We focus on creating solutions that help our customers deliver a better experience to their consumers.



https://www.autofinancenews.net/allposts/innovation-technology/qa-with-ccc-intelligent-solutions-vp-of-lender-services-rick-evans/ Q&A with Rick Evans, Vice President of CCC Intelligent Solutions Render Services

Exit mobile version