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How Our Vehicle Recovery Management Software Helps Insurance Companies

At Vemark, we saw that insurance companies that dealt with salvage vehicles had a very hard time in processing them. From our own experience, we found that many insurance companies would send over the process to a salvage vendor to handle because the workload was too great. The problem we saw was that many salvage vendors were doing their vehicle recovery management inefficiently.  In the end, we realize that this placed a tremendous burden on insurance companies to manage their salvage vehicles which eventually had created major backups and lost time. In this post, we would like to list how our vehicle management software can help you, as an insurance company, when it comes to managing salvage vehicles.

We Provide A Seamless System

In the salvage vehicle market, we wanted to create a system that would make the process of managing salvage vehicles to be automated and seamless. We know when it comes to vehicle recovery management that every process needs to be handled with extreme care. This is how SalvagePRO™, our vehicle recovery management software, came to light. We wanted to help insurance companies in the management of their inventory and to alleviate the task so they can become efficient on the part of their business that they actually excel in, day in and day out.

We Provide Transparency and Accountability

The major keys to our vehicle recovery management software to help insurance companies are to provide a solution where we can create an automated process that’s transparent and shows accountability. We wanted to have a system whenever an insurance company that was looking forward to using our tool that they can see every detail of the vehicle management process from beginning to end. When this happens, there would be no second-guessing at all counts. Every step of the process would be easily viewable and accounted for. If a damaged inventory is spotted in the process, it would be handled immediately. The result would lead to minimal backups which will also have you saving time.

Conclusion

Here, at Vemark, we are very happy that our software, SalvagePRO™, can help insurance companies to manage their salvage vehicles. We know that it takes a great effort to do so and we wanted to help in managing the process. If you are an insurance company that needs help in vehicle recovery management, click here to request and schedule a demo. Let us show you we can save you time in managing your vehicles and have you focusing on your business tasks at hand.

What Are The Benefits of Auction Management Systems

At Vemark, we completely understand that the salvage rental agencies needed help in selling their vehicles for those who are looking to buy. We saw there was a need in the market and we wanted to make a change for the better. We saw, from our own research, that many salvage rental agencies were having problems listing and selling their vehicles to the masses. In addition, we also saw that buyers were having a hard time finding salvaged vehicles and making intelligent decisions with the lack of detailed information that was currently in the market.

Because of our due diligence,  we wanted to bridge the gap between sellers and buyers by building our own online portal called SalvageNow. We wanted to make sure that the process of buying and selling salvage vehicles was simple for both parties and everyone to leave happy.

Here we would love to explain the benefits of auction management systems for salvage vehicles and how we can help you when it comes to buying and selling salvage vehicles.

Extremely Easy To Register

One of the benefits is that it is very easy to register online with an online auction management system. If you, as a buyer, headed to our portal and you wanted to register to get started, this is what you would have to do:

Go over and click the Register

Benefits of Auction Management Systems

Enter Your Login and User Information 

Benefits of Auction Management Systems

When all of your information is completed, you are only left to pay the $195 annual fee and will now have access to huge amounts of salvage vehicles available to you. Sellers who sign up with us are free.

Full Details of Salvage Vehicles are Provided

This, we believe, is so important for buyers. We’re sure when you are looking to make a purchase on a vehicle, you would want the details and the history of the vehicle. With our online auction management systems, we do our very best to make sure all of the details of our vehicles are available to you (mileage, location, vehicle damage, etc…). By doing this, you can feel comfortable that you have all of the information that you are looking for at your disposal. In the end, you can make an informed and smart decision in your bidding and in what vehicle you are looking to purchase.

A Huge List of Salvage Vehicles Nationwide

Benefits of Auction Management Systems
Example of SalvageNow Database

Like we mentioned previously, our online auction management system has a huge list of salvage vehicles nationwide. From the vehicle type, to the model, to the year and everything in between, we help sellers across the United States list their vehicles with us so that buyers can pick and choose in whichever vehicle they would like.

Conclusion

We hope we did our best to explain the benefits of using an auction management system that can help you find ways to make bids and purchase salvage vehicles online.  Or as a rental agency or seller, have your vehicles listed with us so buyers can have access to them in the simplest way possible. If you are in the market and you are looking to buy or sell your salvage vehicle, click here to set up an account right away and start bidding now.

 

Factors That Can Make Auction Buying Difficult

auction buying much difficultWhen it comes to the increased supply of discounted vehicles, you would believe that car dealerships could easily find auction cars compared to used vehicles.

All dealerships, used vehicle managers, and buyers are having a tough time finding qualified auction cars that will appeal to buyers in their market.

At VeMark, we would like to present the challenges dealerships face when it comes to preparing for auctions, their auction expectations, and their lack of homework looking for vehicles from remote locations. Here are the factors that make auction buying difficult for dealerships:

 

What Are The Factors that Makes Auction-Buying For Vehicles more Difficult Than It Should Be?

  • Knowing exactly what to buy: Many dealerships use their experience and intuition to find cars at the auctions. However, this is an inefficient strategy. When it comes to buying cars from the auctions, dealers should do their homework in advance and use their due diligence before going to the auctions. Not only will they save time in doing so, but they will feel assured that they will be comfortable with their purchase.
  • Locating the right inventory: For dealerships, it can be extremely difficult to locate vehicles at auctions. Even though most dealerships have come up with the times when it comes to using the latest technologies to find auctions across the country, many still shop for vehicles in their surrounding areas. Sure, finding vehicles that are closest to them will cut their transportation costs, it can most certainly limit their selection of vehicles in the process. In the case that dealers would want to purchase salvaged vehicles to repair and put on the market instead of buying at the auctions, we’ve built a website called SalvageNow that does just that. Here, dealerships can go through our huge online selection of vehicles at their fingertips and can bid for salvaged vehicles in real time.
  • Buying at the right price: When dealerships buy auction vehicles, they have to feel secure that they are making the right purchasing decision. If they make a  bad purchase or more, it can damage their revenue when making sales is of extreme importance. If dealerships use SalvageNow to purchase repairable vehicles, it can use its technology that calculates each vehicle’s profit potential. A dealership can use that information and determine if buying a particular vehicle will increase profitability.
  • Reducing the time required: If dealerships do their homework, use the latest technology, and use important information when it comes to buying auction vehicles, it will be natural for them to save time. In the end, it will be up to the dealerships if they will use the tools to buy vehicles and put them on the market to increase their sales.

What To Look For In Vehicle Recovery Management

 

When it comes to looking for the best vehicle recovery management company for wrecked vehicles, there are many solutions the company must have in their arsenal.

  1. Do they have an online auction that is using up-to-date technology
  2. Are they using current and intelligent information from their clients
  3. Are their management and processes done in an efficient manner

A Vehicle Recovery Management Company should have an online auction with up-to-date technology

Our customers incorporate senders, for example, accident protection organizations, rescue barters, merchants, rental, armada/rent and other resource proprietors, purchasers, authorized merchants, rebuilders, dismantlers, and recyclers.

Our online auction expels topographical limits with a full-benefit arrangement and gives shippers the adaptability to remarket vehicles. Our markets rescue vehicles to pre-qualified potential purchasers everywhere throughout the world. We likewise decrease the general recuperation process durations by offering every day barters. The SalvageNow Online Auction arrangement additionally oversees and tracks particular vehicles from both a shipper and purchaser viewpoint progressively, encouraging the ideal business encounter.

A Vehicle Recovery Management Company should use current and intelligent information from their clients

At Vemark, we do our best to make sure that every piece of information is current and detailed. This makes it very easy for us to process and have our clients compensated in a timely fashion.

A Vehicle Recovery Management Company should have management and process done in an efficient manner

In the vehicle recovery management industry, we have faced a big problem. Most companies today, do not have easy-to-use, efficient process to salvage vehicles.

Our process does not use manually archaic measures. At Vemark, we use technical data analysis that streamlines every detail in the process.

Conclusion

We service many types of companies in the auto industry such as auto insurance companies, auto asset owners, auto dealers, body shops, rebuilders, vehicle salvage auctions, auction networks, fleet lease companies and car rental companies.

By implementing these three principles, we believe that they are paramount in making Vemark a high-quality and unbeatable company when it comes to salvaged vehicles process.

 

 

Top 4 Steps For Using Our Vehicle Tracking Software

vehicle tracking software

When it comes to our vehicle tracking software, they are a few steps that we take to help businesses such insurance companies track their vehicles.

At VeMark, we believe the process should be streamlined step-by-step so that everything is done efficiently.

Here are that steps that we take:

  1. Install – All of our vehicles are fitted with our vehicle tracking device. When the vehicles being transported to their destination, we can pinpoint it using our GPS system and the information is automatically recorded in our database.
  2. Track – All of the fleet vehicles are tracked through our GPS systems and are logged in our database. In essence, all of the movements and speed are recorded from beginning to end.
  3. Discover – Once we have all of the data, we have them analyzed and compiled into reports. By doing this, we can determine how to save money on the costs of fuel and minimize the amount of paperwork that companies would’ve probably have been using in the past.
  4. Save – Because of our detailed analysis and insight, VeMark can optimize every driving route and driving style so that we can avoid hours and the vast amount of paperwork.

In retrospect, here is how we benefit insurance companies with our vehicle tracking software:

  • Real-Time Tracking
  • Daily Driver Logs
  • Driving Style Analysis
  • Unlimited Geofencing
  • Comprehensive Reports

 

 

Top 5 Ways Your Agency is Losing Time & Money on Salvage

As an insurance agency or vehicle claims processing company it’s never been more important to start cutting costs; and there’s no better place to begin than your salvage process.

Here are the top 5 ways your agency’s current salvage process is hurting your bottom line:

  1. Holding Costs:

    Holding costs can be run into the $1000’s per vehicle costing money and tying up operating capital.   Just as a more efficient factory can offer lower prices to its customers, an insurance agency that takes the time to streamline its processes is better equipped to provide more competitive rates with lower deductibles and premiums. What’s more, a salvage process that runs more efficiently can reduce the cycle time as well, giving your clients the money they need to recover from their loss even quicker. By investing in services that finally make it possible to streamline and capitalize on the salvage process, auto insurers are in a better position than ever to maximize gains from the trend of rising total loss rates.

  2. Using the Same Vendor:

    Another commonly under-utilized tactic with regard to the salvage process is using more than one salvage vendor. Similar to how separate markets can value the same item differently, salvage auction vendors often have their own unique rates for various vehicles. Up until recently, taking advantage of these niche markets was difficult due to the complexity of managing the various vendors. There are now, however, products on the market that effectively navigate these differences, passing on the savings to the auto insurers and ensuring they get the best price possible for each piece of salvage.

  3. Keeping the Salvage Process In-House:

    Keeping your agency’s processes within your organization instead of hiring out to professional services may be the right move but execution can still be poor.  A complete software system for salvage vehicle handling exists that was designed by salvage experts. Keep your systems is house by utilizing a top salvage management system like SalvagePRO™.

  4. Legacy Systems vs. Upgrading:

    Adapting to change can be a tricky process for any company. But hesitating to take advantage of the vast improvements in automation based on fear of “growing pains” alone can be crippling. Besides the obvious labor benefits involved, by choosing the right software you’ll also gain access to and take advantage of expert industry knowledge, earning you more from each salvage sale.

  5. Lack of Visibility:

    The salvage process especially has been largely thought of as a type of “black hole”; insurers rarely get the kind of transparency and accountability they need to make informed decisions and identify problems before they start costing money. Having systems in place to provide more visibility in this area can help prevent issues from happening entirely, saving you money down the line.

    *Bonus* Titling:

    Each state has different titling laws and processes as well as varying procedures when it comes to the salvage process. Large and small insurers alike are spending a surprising number of man-hours learning state differences alone. SalvagePRO™ from Vemark has titling expertise in house with it’s multi-state titling platform, saving time and effort for the insurer. “For example, getting the proper documentation to sell the vehicle from the owner and processing through the state where you have 50 different state laws to navigate should be a simple, automated procedure. Instead, it is riddled with issues… SalvagePRO™ also handles all insurance side reporting with the federal government, NICB and with state title laws through integrations and automation, removing the thousands of labor hours a month this process currently takes.”  “It will end up being cheaper (and less problematic) to use automated systems that operate according to these individual differences.”

     

Want to Maximize Your Agencies Salvage Gains?

 

If you would like to reduce salvage costs and ensure your insurance agency is getting the most out of its totaled vehicles, look no further than SalvagePRO, the first ‘salvage vehicle aggregator’ for the auto insurance industry.

You can find more information at SalvagePRO or you can contact us directly at 877.392.6276 or info@vemark.com.  

How the Salvage Process Affects Your Customer’s Payout

Sell Your Totaled Car to A Salvage Yard. How the Salvage Process Affects Your Customer’s Payout:

 

The salvage industry is experiencing a dramatic shift. According to Insurance Networking News, “Analysis of vehicle claims data for 2015 to date shows the rate at which vehicles are being totaled versus repaired has risen for the industry.”

The shift is due in part to the recent U.S. recession. As consumer spending cash dwindled, vehicle sales plummeted to match, reaching a 27 year low in the year 2009, better known to some simply as the “nightmare year”.

One of the byproducts of this recession is an increasing number of old-aged vehicles being driven. Since the repair cost to actual cost value (ACV) ratio increases with a vehicle’s age, it is becoming more and more likely that the average vehicle in an accident will end up being totaled rather than repaired.

With the trend shifting evermore towards total losses, auto insurers are re-evaluating the ins and outs of the salvage process. Many are finding new ways to not only streamline what was once thought of simply as an immutable part of the industry but also to maximize gains as well.

 

Cutting Salvage Costs When Selling Your Totaled Car to A Salvage Yard

One of the major inefficiencies in the salvage process is the number of labor hours required to effectively keep track of what stage a vehicle is in. From the date of loss to the disposal, there are a myriad of man-hour intensive steps and procedures in between.

Getting the insured to sign paperwork, managing lien payoffs, releases, and letters, and handling the EFT payments are just some of the ways auto insurers spend their work hours dealing with the traditional salvage process.

By taking advantage of automated programs to bear the brunt of the labor with regards to these steps, auto insurers stand to save an enormous amount of both time and money.

Another commonly under-utilized tactic with regard to the salvage process is using more than one salvage vendor. Similar to how separate markets can value the same item differently, salvage auction vendors often have their own unique rates for various vehicles.

Up until recently, taking advantage of these niche markets was difficult due to the complexity of managing the various vendors. There are now, however, products on the market that effectively navigate these differences, passing on the savings to the auto insurers and ensuring they get the best price possible for each piece of salvage.

 

What This Means for the Customer

Just as a more efficient factory can offer lower prices to its customers, an insurance agency that takes the time to streamline its processes is better equipped to provide more competitive rates with lower deductibles and premiums.

What’s more, a salvage process that runs more efficiently can reduce the cycle time as well, giving your clients the money they need to recover from their loss even quicker.

By investing in services that finally make it possible to streamline and capitalize on the salvage process, auto insurers are in a better position than ever to maximize gains from the trend of rising total loss rates.

 If you are interested in optimizing your agency’s salvage process and getting the most out of your customers’ total losses, look no further than Salvage PRO, the first ‘salvage vehicle aggregator’ for the auto insurance industry.

You can find more information at Salvage PRO,  feel free to visit our online auction cars for sale or you can contact us directly at 877.392.6276 or infro@vemark.com.

How to Register and Win a Salvage Car Auction?

Online Public Car Auction. How to Register and Win a Salvage Car Auction?

Participating in an Online Public Car Auction can be intimidating at first, to say the least! There aren’t many resources that cover how to partake in these Internet events. Here is an easy step-by-step guide on how to bid on a salvage auction online.

 

  • Register as an auction member

 

Sign-up for our online Public Car Auction with the proper information, which includes a valid drivers license, proving your status as a legal adult (18+), tax-exemption documentation, a Vehicle Dealer’s, Salvage, Dismantling/Recycler, or equivalent license, and a security deposit.

 

  • Find your vehicle & place a bid

 

After you place a bid, you must confirm it. From this point on, you cannot delete it. It’s set in stone, so be sure you’re 100% interested in purchasing that vehicle.

 

  • You win! (Conditionally)

 

If you are the highest bidder of the Online Public Car Auction, you are considered the conditional winner. You must wait for confirmation from the company to be named official winner. This may take up to 5-business days.

 

  • You win officially!

 

Once officially confirmed, you are on your way to becoming the new owner of a salvaged vehicle.

 

  • Submit your payment

 

Since you’ve been declared the winner, you must pay for the vehicle. You will submit the cost of the vehicle, in addition to any applicable fees and taxes.

 

  • The vehicle is delivered

 

The vehicle will be released within 2-days of receipt of payment. From there, the vehicle will be delivered to your pre-negotiated drop-off spot.

 

That’s it! Online Auto Auctions are a very straight-forward process. At SalvageNow, we have the largest selection of both clean-title and rebuildable auction cars for sale. By participating in our auctions, you’ll be saving time, money, and headaches. Bring the bidding process directly to your fingertips!

EXPERIENCE THE NEW SALVAGENOW™ MOBILE FRIENDLY WEBSITE

SalvageNow™ Online Auto Auction By Vemark. Experience The New SALVAGENOW™  Mobile Friendly Website

 

The process of buying and selling cars at auctions is a logistical, time-consuming nightmare; with high storage fees, transportation expenses, ever-increasing auction costs and scarce free time. However, there is light at the end of the expensive, stressful tunnel. SalvageNow™ transforms the process, reducing fees and wasted time, while increasing convenience like never before.

Vemark has worked tirelessly to set a comprehensive auction solution into motion, enhancing the efforts of rental fleet companies, insurance companies, rebuilders, dismantlers and dealers. SalvageNow places a fair bidding process in your hands, with access to exclusive TradeYourWreck™ vehicle listings and direct deals from the Insurance and Rental Car companies.

SalvageNow™ sellers are able to enjoy uncompromised nationwide exposure, and risk-free listings. There’s no need to worry about additional damage or losing time to transport vehicles around. SalvageNow™ allows buyers and sellers to get the job done from wherever a vehicle is currently sitting, at any time. With reduced auction fees and hassle, SalvageNow™ is truly changing the future of car auctions for the greater good.

Nobody likes playing the waiting game of gathering cars to be transported to site, crossing fingers for a sale. SalvageNow™ connects insurers to nearly 5000 qualified, dedicated buyers online. We’ve spent the past two decades fine-tuning our efforts, taking advantage of evolving technologies to ignite seamless transactions, from upload to delivery and beyond…

…But that’s just the beginning. At the end of the day, SalvageNow™ is here to do everything a traditional auction can, for a fraction of the cost. We believe in fair bidding, connecting buyers and sellers like never before. We embrace a unique combination of age-old wisdom and forward-thinking methodologies to simplify your life.

Get in touch with us today to experience the new and improved SalvageNow™ . Find out what a proper auction can truly be like.

Tips for Buying Salvage Cars in an Online Auction

For some people, seeing a car with a salvage title is enough to turn them off from any type of purchase. However, for those who are “in the know,” such as car dealers (and other salvage markets), buying a car with a salvage title can actually be a great investment. If you are considering buying salvage cars at auction such as the ones we provide at Vemark’s (online auto auctions) SalvageNow, it is important that you keep the following tips in mind for the best possible outcome.

Understand the Damage

First of all, you want to make sure that you understand the damage that the car has. In the vast majority of the cases, the car has a salvage title due to a crash. However, fire and flood damage might also be the cause. At SalvageNow.com, we offer many detailed photos of the damage as well as detailed damage descriptions so you can understand the type of damage as much as possible. Additionally, some types of damage are easier to repair than others. To get the most out of your investment, it’s best to choose a car that only has body damage in an isolated area. It’s also advisable to stay away from suspension and frame damage. This is much more difficult to deal with than it might appear. Cars with this type of damage are better used as parts cars.

Stick to One Make and Model

Buying a car that you have the parts for or you know where the parts car is will give you a huge advantage. Sticking to a particular year, make and model when rebuilding cars has several advantages. If repairing the same type of vehicle, you become familiar with the type of damage certain cars have given a certain type of hit. You also cannibalize the remains of each car and use every last part from the parts cars saving you a great deal in parts and time.

Learn How Car History works

Secondly, you want to make sure that you understand how history of cars work and why a clean title can have damaging history. One easy way to do this is to get a CARFAX report, or similar, but remember, this is not the entire story. As a matter of fact you can’t control cases where the CARFAX shows up after the car has been repaired. The vehicles we offer on SalvageNow are from a wide variety of sources including from individuals, national car rental companies, insurance companies, fleet companies and other sources. The salvage title vehicles have a value that if taken into account is sometime easier to manage making a profit cause there’s no surprises. If you repair cars correctly representing them accurately and build a good name for yourself, the history is far less an issue and certainly not a surprise in the form of a loss on sale

Get the Purchase Details Right

Finally, make sure that you are paying attention to the correct way to bid, especially when it comes to an online auction. For instance, you will likely need to use a dealer’s license or salvage license to register, and then ensure that you know what everything means. Most online auto auctions have symbols, terminology, and bidding methods that you must become familiar with to get the most out of the purchasing process. At SalvageNow.com, we make everything as seamless as possible, from registration to bidding to delivery, so you don’t have to worry about the details and can focus on running your business and making a profit on your salvage car purchases.