Total loss claims in the pandemic

Jeremy Trott, NED of the Society of Claims Professionals suggests total loss cases require consideration during the COVID-19 pandemic and urges insurers to 'assess the likelihood of a new vehicle being sourced at the moment, rendering payouts useless.’ We think total loss cases also require consideration outside of lockdown. Typically total loss cases represent 20-24% of motor insurance claims and result in a lost customer. But what if insurers could avoid categorising a vehicle a total loss by offering the policyholder the option of using e2e's quality assured, warranty covered reclaimed parts to reduce repair costs? The insurer keeps the customer, the customer keeps their vehicle and the environment benefits from vehicle recycling. https://lnkd.in/e_eVCaq #totalloss #motorclaims #customerretention #reclaimedparts