Streamlining Heavy Equipment Claims with Advanced Claim Processing

Handling claims for damaged heavy equipment is one of the most complex challenges insurers face, requiring speed, accuracy, and specialized expertise. Advanced Claim Processing (ACP) integrates advanced technology with expert appraisals to streamline every step of the claims process and address any challenges head-on. From tractors and trailers to farm equipment and off-road vehicles, ACP ensures timely resolutions, cost savings, and customer satisfaction.

Davies developed ACP as a comprehensive, technology-driven solution to help insurers effectively manage high volumes of complex claims for tractors, trailers, farm equipment, and off-road vehicles. By integrating advanced technologies with meticulous desk reviews, ACP ensures faster processing, greater accuracy, and cost savings for insurers.

ACP: The Data-Driven Difference in Heavy Equipment Claims Management

Whether handling daily claims or responding to a surge in assignments, speed, accuracy, and efficiency are paramount for insurers managing heavy equipment claims—ACP meets and exceeds these demands. From the moment a claim is initiated, ACP’s technology-driven solutions simplify processes, reduce errors, and deliver tangible value for insurers and policyholders.

However, the real strength of ACP lies in its specialization and expertise with innovations like electronic logging devices (ELDs), GPS tracking, backup cameras, dash cams, telematics systems, automatic emergency braking, and autonomous truck technology. With an average of 28 years of experience writing heavy equipment estimates, ACP’s appraisers possess unparalleled industry knowledge. Their skills include:

• Rapid response within 2 hours of an assignment has been shown to increase policyholder satisfaction by 25% and reduce the time to initiate a claim by 15%.
• Technology-driven efficiency through virtual technology streamlines the assessment process. According to a 2023 study by J.D. Power, this translates to an average reduction of 3.5 days in claim processing time compared to traditional methods.
• Meticulous desk reviews and audits performed by Davies experts, which have led to a 12% reduction in claim discrepancies and disputes and significant cost savings.
• Salvage optimization management, which can increase recovery values by up to 20% according to IAA-Insurance Auto Auctions.

Benefits for Insurance Carriers & Underwriters by the Numbers

Insurers partnering with ACP realize tangible benefits that impact their customer satisfaction and long-term success. These aren’t just anecdotal claims; they’re backed by data and real-world results. Quantifiable benefits that make ACP a strategic asset for any insurance carrier include:

• ACP’s average turnaround time of 1.75 days from receipt of proper documentation is an impressive benchmark. This speed has been linked to a 10% increase in customer retention for insurers, as per a 2022 Accenture report.
• ACP’s nationwide coverage ensures consistency in service delivery across all 50 states and is critical for insurers with diverse portfolios.
• Qualified heavy equipment appraisers oversee every ACP assignment. This specialized expertise has reduced the need for external appraisal services, saving insurers an average of $500 per claim.

ACP: Your Strategic Partner in Heavy Equipment Claims Management

Advanced Claim Processing (ACP) is the trusted solution insurers need to tackle the complexities of heavy equipment claims. From daily operations to high-demand situations, ACP’s proven track record ensures insurers can meet challenges head-on. Contact us today at acp@us.davies-group.com to learn more about how ACP can transform your claims management process.