LossExpress Pioneers Digital Vehicle Title for Total Loss with Elephant Insurance

The new solution replaces manual and complex processes of lien release and title procurement to resolve total loss claims faster, with increased confidence in consistency and quality.

(Image source: LossExpress website.)

LossExpress (Dallas), a provider software-enabled lien and title release capabilities for insurance carriers in the U.S., has launched fully digital vehicle title for total loss with Elephant Insurance, representing the first of many for LossExpress in its efforts to advance the traditional title procurement process for total loss vehicles. Elephant Insurance (Richmond, Va.), a digital-first auto insurance company, has adopted the title procurement enhancement to its longstanding use of LossExpress solutions, according to a LossExpress statement.

Rhys Pearce, Head of Claims, Elephant Insurance.

“We are excited about this efficiency enhancement for the insurance industry,” comments Rhys Pearce, Head of Claims, Elephant. “Policyholders deserve a smooth and expedient claims process, and that’s what LossExpress’ digital title procurement tool can help deliver. The often frustrating vehicle titling process can be simplified and reduced from weeks or months, down to a matter of days. And that’s a win for the customer.”

The new solution addresses the process of obtaining and transferring a vehicle title from the vehicle owner to the insurance carrier during a total loss, commonly referred to as title procurement, which historically has been fraught with challenges driven by a confluence of factors, including the inherent complexities of managing multi-jurisdictional rules and requirements, the time-consuming process of tracking down titles and documentation from vehicle owners and lienholders, manually completing forms and compiling paperwork, and the considerable amount of time waiting for the new title to be produced. Though some insurance carriers still manage this process internally, many have outsourced the handling of this labor-intensive process to salvage companies and other third parties.

Leveraging LossExpress’ suite of solutions, insurance carriers can now streamline these manual and complex processes of lien release and title procurement to resolve total loss claims faster, with greater ease and with increased confidence in consistency and quality, according to the LossExpress statement.

Monumental Achievement in Title Procurement

“Today marks a monumental achievement in title procurement,” comments Brandon Hall, President, LossExpress. “There is a real demand for high efficiency solutions in total loss, and through our strong relationship with Elephant and other leading insurance carriers, we will further our mission in delivering new innovations in lien release and title procurement to the insurance industry.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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