DALLAS, July 01, 2024 (GLOBE NEWSWIRE) — LossExpress, the leader in software-enabled lien and title release capabilities for insurance carriers in the U.S., announced today it has ushered in the nation’s first fully digital vehicle title for total loss with Elephant Insurance, representing the first of many for LossExpress in its efforts to advance the traditional title procurement process for total loss vehicles.
Elephant Insurance (“Elephant”), a Virginia-based, digital-first auto insurance company, welcomes the addition of this transformative title procurement enhancement to its longstanding use of LossExpress solutions.
“We are excited about this efficiency enhancement for the insurance industry,” said Rhys Pearce, Head of Claims at Elephant. “Policyholders deserve a smooth and expedient claims process, and that’s what LossExpress’ digital title procurement tool can help deliver. The often frustrating vehicle titling process can be simplified and reduced from weeks or months, down to a matter of days. And that’s a win for the customer.”
The process of obtaining and transferring a vehicle title from the vehicle owner to the insurance carrier during a total loss, commonly referred to as title procurement, has historically been fraught with challenges driven by a confluence of factors, including the inherent complexities of managing multi-jurisdictional rules and requirements, the time-consuming process of tracking down titles and documentation from vehicle owners and lienholders, manually completing forms and compiling paperwork, and the considerable amount of time waiting for the new title to be produced. Though some insurance carriers still manage this process internally, many have outsourced the handling of this labor-intensive process to salvage companies and other third parties.
Leveraging LossExpress’ suite of solutions, insurance carriers can now streamline these manual and complex processes of lien release and title procurement to resolve total loss claims faster, with greater ease and with increased confidence in consistency and quality.
“Today marks a monumental achievement in title procurement,” said Brandon Hall, President of LossExpress. “There is a real demand for high efficiency solutions in total loss, and through our strong relationship with Elephant and other leading insurance carriers, we will further our mission in delivering new innovations in lien release and title procurement to the insurance industry.”
For more information about LossExpress, visit www.lossexpress.com.
For more information about Elephant Insurance, visit www.elephant.com.
About LossExpress
LossExpress is the industry leader in software-enabled lien and title solutions that streamline automotive claims processes for the insurance industry. Its suite of dynamic and powerful software solutions help insurance companies increase efficiency, consistency and performance. To learn more, visit www.lossexpress.com.
About Elephant Insurance
Elephant Insurance is an auto insurance company that provides consumers with the tools and advice they need to buy and use auto insurance. Elephant is known for its customer focus, innovative pricing, and inclusive work culture. Headquartered in Richmond, Virginia, Elephant is a wholly owned subsidiary of Admiral Group, plc., a FTSE 100 company and one of the U.K.’s leading insurers with a presence in eight countries and millions of customers worldwide. Elephant is rated in the excellent range on Trustpilot and is certified as a Great Place to Work®. To learn more, visit www.elephant.com
Contacts
Brandon Hall
President, LossExpress
bhall@lossexpress.com
(855) 943-1975
