eAutoclaims, Inc. provides Internet based vehicle collision claims services for insurance companies, managing general agents (MGA) and third party claims administrators (TPA) and self-insured automobile fleet management companies. The company accepts assignment of claims from its customers, and provides vehicle repairs through a network of repair shops. It also provides online systems to connect clients with service providers of estimates, audits and claims administration services for claims for which the company does not perform the repair. The company controls the vehicle repair process from the reporting of the accident through the satisfactory repair of damage. It has contracted with approximately 2,500 body shops throughout the United States to repair vehicles. These shops, referred to as its ‘provider network,’ provide the company a discount on the vehicle repair because of the volume of repairs the company provides to them. Products and Services The company develops customized Internet technology solutions for insurance companies, financial services companies, and companies with fleets of vehicles and heavy equipment. These products provide for both a business process outsource and/or application service provider (ASP) solution aligned with industry standards. The outsourcing solution provides customers with a complete Internet based managed claims solution from first notice of loss through the completion of the repair cycle leveraging its vendor and partner networks. The ASP solution allows the customer to use its Internet technology solutions independent of its personnel, enabling them to reduce their costs associated with developing, supporting, and maintaining a proprietary technology solution. The company’s network of vendors and partners can provide services such as independent adjustors, car rentals, tow trucks, accident reporting and auto repair centers all available through its technology solutions. The ASP solution enables customers with their own network of vendors and partners to be integrated into its technology solutions. Outsourcing Solutions The company, in its outsourcing solution, handles the entire collision repair function for its customers from the time of reporting of the accident through the vehicle’s satisfactory repair. Through its network of parts and repair service providers, the company is frequently able to obtain parts and services at lower costs than otherwise available. It monitors and audits all repair work to help assure that the proper repair work is performed at the negotiated price. These services include: centralized accident reporting, copies of accident reports, identifying the appropriate network repair facility and directing the policyholder to such facility, deliver repair estimates and photographs/digital images of damage to any location overnight or same day upload, audit of every claim by its in-house physical damage experts, assignment of independent field appraiser, when necessary, expedited delivery of part and materials as needed, computerized tracking and follow-up system to minimize repair time, replacement rental vehicles, and a lifetime guarantee from its network of repair shops (for as long as the insured owns the vehicle) on all physical damage body repairs and administration of manufacturer or installer’s warranty on replacement parts. The company help its clients manage their vehicle claims losses by providing the following: Technology – The company builds customized Web-based vehicle claim assignment and delivery systems for insurance companies and corporate fleets. Additionally the company builds asset recovery and remarketing Web services, applications, and tools for the financial services institutional sector. In addition, the company utilizes digital cameras, smart phones, Internet communication, advanced data storage, transmission and scanners for auto repair shops that are not equipped with digital cameras, to create a defined audit trial and high capacity digital storage. The company provides these customized applications to its clients with their own private label that includes their corporate colors and logos, which makes the claims, recovery and remarketing process transparent to both insurance company personnel and the insured. Online, real time reporting: The company provides its customers with online, real-time reports of the most critical information used in their operations. These reports include a comparison of their average paid losses (cost to repair a vehicle), cycle time (time to complete an estimate of the damage), and lost adjustment expense (cost of the repair estimate or appraisal) between the eAutoclaims network, independent appraisers and staff appraisers. Audit Trail: The company audits every claim that comes into its network. This helps the company delivers the lowest available audited cost to its clients on every repair. Customers The company’s customers consist primarily of insurance companies, financial institutions, managing general agents (MGAs), third party administrators (TPAs) and managers of self-insured automobile fleets. Its customers include Mitchell International, Vision and Fireman’s Fund Insurance. History eAutoclaims, Inc. was founded in 1995. The company was formerly known as eAutoclaims.com, Inc. and changed its name to eAutoclaims, Inc. in 2004.
eautoclaims inc (EACC:OTC US)
110 East Douglas Road
Oldsmar, FL 34677
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