Vehicle Values With Historical Performance Can Greatly Increase Accuracy in Claims Adjustments
Black Book, a division of Hearst that provides industry-leading used vehicle valuation and residual value forecast solutions, today announced its History-Adjusted Valuations (HAV) data and resources will be integrated into an interface with DIMONT, one of the largest providers of insurance claims adjusting and collateral loss mitigation services to the residential mortgage and auto lending industries.
Under the agreement, Black Book’s HAV insight and resources are now integrated into DIMONT’s proprietary systems for claims adjusters to help in their work pursuing insurance claims on repossessed vehicles.
History-Adjusted Valuations are a VIN-specific, analytics-driven resource that delivers Black Book’s most precise vehicle valuations, helping automotive professionals determine the impact a vehicle’s history has on its value. DIMONT is leveraging HAV as a precise independent data source for its claims adjusters. DIMONT’s team of adjusters will benefit from the increased precision of vehicle values, enhancing their negotiations and leading to better outcomes on vehicles in their portfolio of claims.
Even with the use of vehicle history reports, automotive professionals are still reliant on making an unscientific, educated guess as to the impact a vehicle’s history has on its value, which often leads to mistakes in the valuation process. HAV helps automotive professionals remove the guesswork involved by providing access to a more precise value on each individual vehicle.
“We’re excited to work with Black Book, a company with a rich legacy in accurate valuations for the automotive industry,” said Denis Brosnan, CEO of DIMONT. “For our adjusters, having accurate vehicle valuations is critical to reaching good claim resolutions, which is what we’re all about – proving outstanding service for our customers.”
“It’s no longer enough to have vehicle values that are reported just based on make, model and trim level,” said Jared Kalfus, Executive Vice President, Revenue at Black Book. “Access to each vehicle’s unique valuation that takes into account its exact historical performance is a critical competitive advantage in the claims adjustment process, and can help minimize risk exposure when evaluating vehicles in accidents.”
Founded in 1996, Dallas-based DIMONT is one of the largest providers of insurance claims and collateral loss mitigation services to the residential mortgage and auto lending industries in the United States. Additional information is available at www.dimont.com.
About Black Book
Black Book® is best known in the automotive industry for providing timely, independent and precise vehicle pricing information, and is available to industry-qualified users through online subscription products, mobile applications and licensing agreements. Since 1955 Black Book has continuously evolved to ensure that it achieves its goal of delivering mission-critical information to its customers, along with the insight necessary to successfully buy, sell, and lend. Black Book data is published daily by National Auto Research, a division of Hearst, and the company maintains offices in Georgia, Florida, and Maryland as well as the Canadian Black Book in Toronto. For more information, please visit BlackBook.com or call 800.554.1026.