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ClaimForce Passes $150 Million Mark in Insurance Rental Replacement
CHICAGO, IL MAY 15, 2007 -- ClaimForce, Inc. announced today that it has exceeded the $150 million mark in successfully managing insurance replacement rental car expenditures. This is a major milestone for the web-based, independent, multi-vendor claim service network and communication platform. Insurance replacement rental and reimbursement costs insurance companies $4.4 billion each year and is one of the largest service costs associated with auto claims. Prior to the ClaimForce rental solution, insurance companies were without a single solution to offer choice to policyholders, manage walk-in customers, or track and pay for the services associated with insurance replacement rental.
The ClaimForce Rental Control Manager is a network solution in which rental vendors compete for insurance claims business. By utilizing ClaimForce, the industry's largest open network of rental providers, insurance companies are assured complete national coverage, more competitive pricing, increased service levels and reduced rental duration. In addition, insurance companies are better able to provide their policyholders with choice, and adhere to regional and national anti-steering regulations. The ClaimForce Rental Control Manager provides insurance companies a single solution to manage the entire rental process from assignment to payment to management reporting.
"Given the significant and rising costs of insurance replacement rental to the insurance industry and the ongoing consolidation of supply, the ClaimForce rental alternative is a solution whose time has definitely come," commented Stephen Applebaum, president of ClaimForce. "ClaimForce has leveled the playing field and created a healthy, competitive marketplace for vendors while achieving critical improvements in the claim process."
In recognition of the impact ClaimForce has made within its client base and specifically its contribution to the operating results of the Claim Department at a large client, ClaimForce recently received the Chairman's award for the most outstanding contribution to the success of one of the industry's fastest growing Top 50 insurance companies.
"The value our solution brings is long overdue in this industry," said Dennis O'Mahoney, founder and CEO of ClaimForce. "The opportunity to regain control and improve results and policyholder satisfaction in this crucial part of the insurance claim process is too compelling to ignore, and is quickly being recognized by a growing number of leading carriers."
The ClaimForce Rental Control Manager is a network solution in which rental vendors compete for insurance claims business. By utilizing ClaimForce, the industry's largest open network of rental providers, insurance companies are assured complete national coverage, more competitive pricing, increased service levels and reduced rental duration. In addition, insurance companies are better able to provide their policyholders with choice, and adhere to regional and national anti-steering regulations. The ClaimForce Rental Control Manager provides insurance companies a single solution to manage the entire rental process from assignment to payment to management reporting.
"Given the significant and rising costs of insurance replacement rental to the insurance industry and the ongoing consolidation of supply, the ClaimForce rental alternative is a solution whose time has definitely come," commented Stephen Applebaum, president of ClaimForce. "ClaimForce has leveled the playing field and created a healthy, competitive marketplace for vendors while achieving critical improvements in the claim process."
In recognition of the impact ClaimForce has made within its client base and specifically its contribution to the operating results of the Claim Department at a large client, ClaimForce recently received the Chairman's award for the most outstanding contribution to the success of one of the industry's fastest growing Top 50 insurance companies.
"The value our solution brings is long overdue in this industry," said Dennis O'Mahoney, founder and CEO of ClaimForce. "The opportunity to regain control and improve results and policyholder satisfaction in this crucial part of the insurance claim process is too compelling to ignore, and is quickly being recognized by a growing number of leading carriers."
