By: AnSR
On a typical day, in-house fleet managers are already accomplishing a tremendous amount with limited resources. Even the smallest, unexpected events can stretch bandwidth to the brink. Of all the surprises involved with managing a fleet, few cost as much time, money and frustration as dealing with a property damage claim. Whether organizations choose litigation or handle the process internally, it’s rare to recover the full damage amount without an expert. Here’s why:
Litigation
Fleets that opt for litigation often face a long, drawn-out claim resolution process. (Think: Mounting attorney fees and time-intensive court appearances.)
In some cases, claims could be tied up in litigation for years. Given this reality it’s not surprising that many fleets settle. While a quick settlement saves time, it can come at a steep financial cost: These recoveries are typically much lower than the actual cost of the asset’s damage. After lawyers take their piece of the pie, organizations are often left with less than 20% of the claim’s original value.
Internal Shops
Other fleets try to handle the process internally. When roadblocks arise, they often let go of the claim altogether rather than invest in additional resources, like attorneys. The fleet absorbs the costs of this time-intensive process.
Roughly 20% of commercial vehicles are involved in an accident each year. According to a study funded by the U.S. Department of Transportation, these accidents cause employers more than $72.9 billion annually. In a landscape where in-house managers are stretched thin and fleets are more serious than ever about cost savings, there’s got to be a better solution, right?
There is — AnSR.
One fleet management company, Onward, recently partnered with us to help their customers maximize their recovery in the event of a property damage claim.
The value of a fleet subrogation partner
Onward is always looking for ways to maximize value for their customers and their fleets, especially through best-in-class partnerships with companies that share their commitment to optimizing fleet costs and efficiency. As former in-house fleet managers, they can attest to the complexity of managing claims internally and the value of our specialized expertise.
If an asset is damaged and a property damage claim is filed, trust AnSR to manage the process — eliminating unnecessary litigation, maximizing recovery amount and removing headaches every step of the way. We leverage arbitration to resolve disputes outside of court; it’s our secret weapon in damage claims resolution.
For busy fleets, the value of our fleet subrogation work speaks for itself.
- Calculate the damage’s full costs: The cost of damage is more than just repairs and replacements. AnSR will review fleet records and calculate an accurate loss of use (the expense incurred from running the business without the vehicle). Think: rental vehicles, outsourcing services and other overlooked line items while the asset is being repaired.
- Increase chances of a win: With a 94% win rate and a track record as panelists on more than 5,000 arbitration cases, our skilled experts know how to build a winning claim. Through our savvy arbitration, fleets can avoid costly, time-intensive litigation.
- Maximize recovery rate: AnSR recovers 74% of the dollars filed, to the tune of $450M over the last 12 years. The industry average recovery rate is 40%. Because “dollars filed” reflect the damage’s full cost — which goes above and beyond mere repairs — fleets stand to reap significant value.
- Close claims faster: Rather than languishing for months or even years, AnSR’s average cycle time is 30 days or less.
- Stay informed at every stage: With AnSR, organizations benefit from transparent, timely communication so they always know exactly where the claim process stands.
- Focus on operations, not claims management: Trust AnSR to manage the recovery process from start to finish. By doing so, organizations can devote critical resources to operations — not developing and managing an internal program for resolving claims.
In today’s fleet management landscape, every opportunity for cost- and time-savings is critical. Rather than settling for less than the costs incurred or waiting years for a payout, choose the partner equipped to maximize recovery — no headaches, and no money left on the table. Contact us to learn more!
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