Fee Calculator Now Part of Valuation Workflow
Title, registration and additional fee calculations for total loss settlements can be complicated and time-consuming. Existing solutions usually involve a spreadsheet “knowledge base” of fees by state that each claim adjuster references to determine the amount of fees that may be owed to a vehicle owner. These calculations are often manual and completed separately from the process of determining the loss vehicle’s value, which can lead to inconsistencies when capturing and applying the fees by state, county or city.
CCC Fee Calculator brings vehicle valuations and fee calculations together in one place to simplify workflows and reduce the burden of manual calculations. Fee Calculator is available for all 50 states, the District of Columbia and Puerto Rico.
Automate Fee Calculation
The addition of CCC Fee Calculator to the CCC ONE® Valuation solution allows insurers to configure upfront what applicable title, registration or license plate fees should apply in a given jurisdiction. Once set, adjusters can include these selected fees as part of the valuation workflow, simplifying the process while minimizing user inputs.
Fees are calculated automatically when the valuation is requested, and the results are added when available as line items in the Market Valuation Report (MVR) based on carrier-established configuration and data inputs.
Fee Calculator further streamlines a process that includes photo-driven total loss predictions, valuations and title/paperwork transfer. Adjusters can not only calculate fees and add them to valuations but also share those valuations electronically using CCC® Total Loss Care.
The newest additions to the CCC total loss workflow, Fee Calculator and Total Loss Care are helping unlock an end-to-end claims process to improve efficiency and drive faster resolutions.
How Fee Calculator Works
Insurance carriers configure Fee Calculator by state, conducting an initial setup to identify the fees they want to include and the scenarios to which they will apply. Carriers are responsible for complying with applicable state total loss regulations.
For each valuation, input prompts will appear during submission for items such as owner vs. carrier retained salvage, registration date and transferability of license plates, which may affect the fees and amounts due as part of the claim settlement.
Once calculated, the total fee amount will appear as a single post-tax adjustment in the Valuation Summary section on the first page of the MVR. An additional section will appear in the MVR with a detailed breakdown of each individual fee, the fee amount and a link to state/local sources.
Some states have additional fees based on geographic region and legal jurisdiction, which makes it more difficult for carriers to identify the correct fee amount. Fee Calculator simplifies this process by including fee data down to the county, township or city level, where available. Once a carrier selects a fee during configuration, that fee is automatically applied during claim processing based on the claimant’s ZIP+4.
To learn more about fast-tracking the end-to-end total loss process, please visit the CCC ONE® Valuation page.
