Summary

Laird Assessors provide intelligence to the automotive world predominantly relating to crashed vehicles. Utilising Swiftcase, an automation and AI platform, they have created a comprehensive and evolving system which controls almost every aspect from FNOL (first notice of loss) to invoice with only essential expert human intervention.

As a third-party insurance claims provider, Laird Assessors are required to provide multiple accurate vehicle valuations daily. Having visibility and access to relevant market valuation data in a single, trustworthy place was the missing link in enabling their team to make decisions efficiently.

The business utilises Percayso Vehicle Intelligence (PVI) as part of their claims process to quickly assess and validate claims by accessing multiple, real-time vehicle valuation data from the largest UK vehicle database.

Lee Baty, Head of Automotive at Laird Assessors, said integrating vehicle valuation insights into their claims process has made valuations more accessible and straightforward. The team at Laird Assessors benefit from:

  • Easy evaluation of multiple claims valuations using a single aggregated data tool.
  • A streamlined and efficient claims process, vastly reducing the time and resources required.
  • User-friendly tool with input options that quickly produce evaluation data and documentation.
  • Full integration of data to existing Laird Assessors systems and workflows.

The problem

The legacy claims process was complex and lengthy. It relied on manually assessing, comparing and processing multiple data feeds to conduct valuations. It also depended on many different data sources, ranging from vehicle data such as registration details and mileage to market comparison information, which were not always reliable or current – particularly concerning commercial vehicles.

This was a significant problem due to the scale and size of claims needing to be processed. Laird Assessors typically had, on average, 15 engineers producing 20 reports a day, each requiring manual input of data to get a valuation before having to validate that valuation by researching traditional guides and market trends. Not only was this taking a considerable amount of time and resources, but it raised concerns about the accuracy of the data, which could subsequently impact total loss and claims decisions.

The need

It was clear that the claims process needed to become more efficient and streamlined, and to achieve this would require real-time, accurate and up-to-date data that the claims team could easily and quickly access. Laird Assessors sought a ‘one-stop shop’ solution to integrate into their existing systems to streamline the end user process and associated time and costs.

It was also crucial for the user to quickly input several data fields into a single system, producing an accurate and reliable valuation.

“The time it took us to follow our process manually far outweighed what we needed it for. It was a lot of time wasted. We were looking to bring in more efficiency and confidence so that our clients could go away and replace their vehicles. – Lee Baty, Head of Automotive, Laird Assessors

The solution

PVI’s Companion tool provides essential real-time vehicle valuation data to help Laird Assessors engineers carry out market research across both private and commercial vehicles, capture an accurate valuation of the market, easily manipulate the changeable options, such as mileage, and provide accurate valuations for their clients.

“It’s a far easier, far simpler, far better process for us. It’s a one-stop shop. We input the selected three data points, click valuation and it produces the valuation, supporting evaluation documentation and automatically goes straight into our system.” – Lee Baty, Head of Automotive, Laird Assessors

The impact

Using PVI’s Companion tool, Laird Assessors can provide fair vehicle valuations supported by reliable evidence and contribute to an overall reduction in resource, time, and costs across the valuation process.
Laird Assessors also credit the quality of PVI data for removing any ‘guesswork’ from their process and providing better-evidenced valuations, which ultimately help reduce client disputes.

“The number of disputes has massively reduced. Unlike before [using the traditional and manual approach], clients can now work with the accident management and insurance companies and reference the detailed examples in our valuations reports thanks to PVI’s Companion data.” – Lee Baty, Head of Automotive, Laird Assessors

Find out more

Turn data into intelligence, insights and outcomes with our Companion tool. Book in a call with the team today to find out how we can help you see the full picture.