VIA Insurance Replacement Software
The VIA Insurance Replacement Software utilizes the Consumer Products Database to provide a platform for insurance adjusters to find the value of an insured item and to match it with the current equivalent model to replace what was lost.
Features of VIA:
VIA provides flexible adjustment tools in a complete work environment to collect, organize and work contents data.
- Loss, policy and coverage information
- Inventory line details
- Quantity, quality, description and value
- Adjustment factors
- Depreciation, allowances and replacements
- Inventory Styles
- Sort by Building
- Sort by Room
- Limits Calculation
- Dwelling
- Contents
- Special Limits
- Calculate Depreciation and ACV
- by Age
- by Usage
- Average - High - Low
- with depreciation tables
- by fixed percentage
- by allowance factor
- by Full Replacement Cost
- Settlement Property Loss Worksheet
- Settlement totals
- Limits category totals, replacement cost, actual cash value
In VIA, the replacement cost of the defensible LKQ comparison item is the starting point for the settlement negotiation. The adjuster can apply depreciation specific to age, condition and usage or they may elect to apply flat rate percentage. The average savings result depicted through numerous carrier closed file reviews is 22% from typical contents settlement practice.
The VIA Current Products Database of consumer products includes current and available selections from over 600 product types, 2600 manufacturers and approximately 743,000 models. The Current Product Database can be searched by Brand, Type, Model, and Price. Also the VIA Instant Product Expert provides leading questions to allow the adjuster to easily qualify contents to zero on the right current model for LKQ. This LKQ method of research provides accurate and defensible settlements. The CORE current products group includes electronics, photographic, sporting goods, tools, musical instruments and sterling silver.
The VIA Historical Products Database of consumer products includes accurate and defensible replacement selections from over 600 product types, 2,600 manufacturers and approximately 118,000 models. Like kind and quality replacement selections are offered based on features selection. The product database can be searched by Brand, Type, Model, Age and Price. Also the VIA Instant Product Expert provides leading questions to allow the adjuster to easily qualify contents to zero on the right model for LKQ. This LKQ old to new research provides the most accurate and defensible settlements. The CORE products group with historical and LKQ replacement pricing includes electronics, photographic, sporting goods, tools, musical instruments and sterling silver.
Claim Builder leverages VIA default templates to allow the adjuster to do quick searches and to point and pick generically described items to the inventory with little keyboard input. These inventory items are treated in a 5 price level scenario and include clothing, housewares and furniture.
Benefits for you, your carrier partner and the insured:
- Carrier Benefits
- VIA platform positions a more consistent adjusting approach
- Severity impact
- VIA LKQ audit proven 18% - 22% lower than typical practice
- Supports best practice and underwriting
- VIA allows for the data mining of content inventories
- Adjuster Benefits
- Single point of access for a large pricing data base
- Point and pick inventory to contents list
- Flexible line item adjusting tools
- Depreciation by age, condition & usage or flat rate
- Insured Benefits
- Accurate and fair settlement
- based on today's LKQ
- Easy to understand settlement document
- Old to New, Replacement Cost, Actual Cash Value
- Access to convenient replacement
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