Advanced Remarketing Services, a technology company focused on the remarketing and automobile recycling sector, and Guidewire Software, Inc. (NYSE: GWRE), provider of the industry platform Property and Casualty (P&C) insurers rely upon, today announced that Advanced Remarketing Services has joined Guidewire PartnerConnect™ as a Solution partner. The companies also announced that Advanced Remarketing Services’ Ready for Guidewire validated add-on is now available to insurers in the Guidewire Marketplace.
Advanced Remarketing Services’ Ready for Guidewire add-on, the ELVX (End-of-Life Vehicle Express) Add-On for Salvage Disposal, enables P&C insurers on Guidewire ClaimCenter™ to address long-standing challenges in the identification and segmentation of low-value and end-of-life salvage as well as badly damaged and end-of-life commercial assets. The ELVX add-on allows insurers to assign predictive total loss assets to an alternative salvage disposal method without leaving ClaimCenter. With the ELVX add-on, customers can dispose of salvage units from the primary storage location directly to a purchasing network of licensed recyclers.
“Insurers have long faced challenges with segmentation of end-of-life vehicles which has in turn created hurdles for claims operations,” said Joseph Hearn, President & CEO, Advanced Remarketing Services. “Advanced Remarketing Services’ Guidewire integration allows claims staff to leverage its solution from within their ClaimCenter workflows, covering the entire salvage process, for efficient and effective processing of these assets.”
With Advanced Remarketing Services’ Ready for Guidewire integration, insurers can:
Access easy to use segmentation tools to identify predictive total loss ELV units;
Maximize recoveries on predictive total loss and low value salvage;
Reduce transportation costs, field charges, and claims handling and cycle times;
Have the option to initiate an alternative method of inspection (MOI) to obtain photos from the storage location or tow network for faster claims settlement; and
Experience streamlined processing within ClaimCenter including automated notifications and custom reminders.
“We welcome Advanced Remarketing Services as our latest Guidewire PartnerConnect Solution partner and are pleased to offer our joint customers access to salvage disposal for total loss vehicles as a claim service right at first notice of loss or total loss determination,” said Becky Mattick, Senior Director, Guidewire Software. “Easily installing the ELVX add-on from the Guidewire Marketplace will help insurers expedite claims processes more efficiently, without a significant IT or business change effort.”