The expert has 15 years of experience in the German insurance market. He spent most of his career in the claims department (specializing in motor claims). After having spent more than 6 years at a leading insurance carrier, he is currently leading a team of 50 people in the "Expensive Motor Claims department" where he is responsible for designing claims processes and working with different service providers (vehicle salvage companies being one category).
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Online platforms like AUTOonline and CARTV are the most established ones in the German market for posting salvage advertisements. The insurance company sends the salvage offer to the customer or claimant, who then has to contact the salvage buyer. The insurance company will then pay the market value minus the salvage value. But what can happen is that the customer has, in the meantime, already sold their salvage for a lower price. That is one of the key issues in this process.
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It's because the customer doesn't care. They get the same amount of money whether they sell the salvage at a lower or higher value. The insurance company will pay up to the market value, and it's only a saving for the insurance company if the salvage value is higher.
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It's also the reason why insurance companies usually use more than one selling platform. There can be clear differences, I would say up to 30%, or even 50% in extreme cases, in the bids on a salvaged car.
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The expert has 15 years of experience in the German insurance market. He spent most of his career in the claims department (specializing in motor claims). After having spent more than 6 years at a leading insurance carrier, he is currently leading a team of 50 people in the "Expensive Motor Claims department" where he is responsible for designing claims processes and working with different service providers (vehicle salvage companies being one category).
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