Speed and satisfaction are core drivers of this revolutionary service
MANSFIELD, Texas, Oct. 25, 2022 (GLOBE NEWSWIRE) — ClaimBuyout, a national vehicle buying company, today announced the redevelopment of its self-service digital platform where people go to sell their damaged vehicle deemed repairable following an accident instead of having it repaired and receive pre-accident value. Using proprietary patent-pending technology and a broad marketplace view, the service positively impacts customer experiences, creating a release valve for the backlog of vehicles awaiting repair, parts stuck in the supply chain, and those who simply no longer want their damaged vehicle after an accident.
“We are addressing two big issues impacting the auto claims process at once–cycle time and customer satisfaction,” said Robert Guerrero, ClaimBuyout President and Co-Founder. “We are carving out a new lane in the auto claims customer journey where timing and experiences matter most. The vehicle owner can take the ClaimBuyout Offer and receive pre-accident value or move on with repairing their damaged vehicle—it’s their choice. We have purchased $30 million dollars’ worth of vehicles to date with an average of two business days from offer to contract.”
ClaimBuyout.com offers additional insights for insurance providers and vehicle owners to navigate this revolutionary process and learn more about how a ClaimBuyout Offer is generated.
Auto Claims Industry Snapshot:
- 3 million high impact accidents in the US annually (30% to 70% damage)
- 4.5 weeks repair facility backlog national average; 15% of repair shops experience an 8+ week backlog
- 100,000 auto tech job openings over the next decade
- 26.7 days length of non-drivable repair cycle time
- 15.6 days median delivery days for all party types
The ClaimBuyout Solution by the Numbers
- Average cycle time is 2 days from customer referral to contract
- Average damage repair estimate is 40%
- Average model year purchased is 2016
- 70% of customers say “yes”
- $30 Million worth of vehicles purchased to date
ClaimBuyout is a national vehicle buying company delivering a new post-accident option offering pre-accident value. The proprietary self-service digital platform is where people go to sell their repairable vehicles following an accident instead of having the vehicle repaired. Vehicles are acquired by insurance referrals, rental car company fleets, and heavy-duty commercial vehicles. Learn more at ClaimBuyout.com, email Offer@claimbuyout.com, or call 833.328.9688.
Susan Jablonski, VP Marketing