Information Services Provider Delivers Critical Market Data To Insurance Adjusters

Innodata Isogen Solution Helps Motorists Get Behind Wheel Faster

Challenge

Each year, more than 20 million vehicles are involved in accidents, from fender benders to head-on collisions. To process claims for the vehicles damaged in these accidents, local body shops, car sales and insurance workers need accurate data on the values of thousands of different makes and models of vehicles. The values can vary greatly depending on the age and condition of the vehicle, its custom options and pricing in specific local markets. Insurance adjusters need quick access to this market data, and accuracy is essential to ensure that all claims are settled equitably and to identify potentially fraudulent ones.

An information services firm started supplying data on vehicle values to a handful of insurance companies in 1980. By the late 1990s it had grown to be the leading source of total-loss vehicle data. However, gathering so much varied data in thousands of local markets, aggregating and verifying the values, and then making all the information available upon demand to its customers was taxing the company. The firm determined that its best option was to outsource the digitization of those records...