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Cross Country Automotive Services Advocates Benefits of Real-Time Claims Adjustment for Insurers, Automakers
Sep 09, 2010 (02:09 PM EDT)
Insurance Senior Vice President and General Manager Dave Ferrick to Present at Telematics Update's Insurance Telematics USA 2010 Conference on September 14
MEDFORD, Mass., Sept. 9 /PRNewswire/ -- When Dave Ferrick took the helm of Cross Country Automotive Services' Insurance business in 2007, auto insurance carriers generally didn't receive their first notice of a vehicle loss from a claimant until days after the incident, impairing their ability to manage towing and storage costs of the crashed vehicle. Today, Ferrick's Insurance Services business unit is bringing to the market the capability to receive notifications in mere seconds after the crash in conjunction with the ATX Connected Vehicle Services (or telematics) business unit, a division of Cross Country.
"The potential savings to both insurers and policyholders are substantial, and for automakers, the potential benefit is adding value to their expanding investments in embedded vehicle telematics and automatic collision notification technology," Ferrick said.
Ferrick, senior vice president and general manager of Insurance Services, will be a featured speaker at Telematics Update magazine's Insurance Telematics USA 2010 conference on Tuesday, September 14, in Chicago. His presentation, "How to Position Telematics for the Insurer," will reflect his unique vantage point at the convergence of digital technology linking the automotive manufacturing, service and insurance industries, as well as connecting both ends of the Cross Country enterprise – vehicles with wireless connectivity for drivers and post-accident services for auto insurers.
Operating one of the largest roadside assistance networks in North America – with more than 20,000 providers contracted to serve more than 76 million drivers – Cross Country provides roadside assistance and post-crash services to more than 30 auto insurance carriers, accounting for nearly 50 percent of all premiums written in the U.S. The focus of Cross Country's service delivery is to continually accelerate post-accident intervention, thereby reducing costs associated with accident scene management, analysis and processing of the damaged vehicle.
The other source of Cross Country's projected business growth is its ATX connected vehicle services business, serving automakers that account for nearly 50% of all new vehicle sales in North America. ATX's key role in automobile crashes is providing immediate notification, location and with some vehicles, crash severity (and corresponding likelihood of severe injury) to emergency responders seconds after airbags deploy.
Ferrick's mission is to craft a service menu that provides end-to-end mobile emergency management – combining benefits of the automatic collision notification feature in connected vehicles with those derived from the accident scene management services of the Insurance Services unit. Using connected vehicle services to deliver real-time first notice of a vehicle loss offers the potential for a number of related advantages: faster and individually tailored post-crash service and accelerated claims issues for crash victims, reduced storage and rental cost for insurers, and increased product value for automakers and automotive retailers.
About Cross Country
For nearly 40 years, Cross Country Automotive Services has been a pioneer and thought leader in creating and delivering technology-enabled service solutions for the auto and insurance industries.
Cross Country's innovative, privately labeled customer relationship management programs connect, inform and assist drivers while building brand loyalty. Cross Country leverages emerging technologies, data and application integration, and multi-modal experiences to deepen customer relationships at critical customer touch points. Its customized solutions include accident scene and vehicle release management programs, comprehensive roadside assistance plans and connected vehicle solutions (telematics) through its ATX Group division.
Foreign and domestic automakers with more than 90% of U.S. domestic sales, as well as more than 30 of the largest automobile insurance carriers utilize Cross Country's expertise to engage with more than 76 million of their customers. Cross Country Automotive Services is a member of the Cross Country Group, one of the largest privately held providers of customer service programs in North America. For more information, visit www.crosscountry-auto.com.
SOURCE Cross Country Automotive Services