On a typical day, in-house fleet managers are already accomplishing a tremendous amount with limited resources. Even the smallest unexpected events can stretch your bandwidth to the brink. But of all the surprises involved with managing a fleet, few cost as much time, money and frustration as dealing with a property damage claim.
Whether you choose litigation or handle the process internally, it’s rare to recover the full damage amount without an expert in your corner. Fleets that opt for litigation often face a long, drawn-out claim resolution process. (Think: Mounting attorney fees and time-intensive court appearances.) In some cases, your claim could be tied up in litigation for years. Given this reality, it’s not surprising that many fleets settle — and as former fleet managers, we can relate. But while a quick settlement saves you time, it can come at a steep financial cost: These recoveries are typically much lower than the actual cost of your asset’s damage. After lawyers take their piece of the pie, you’re often left with less than 20% of the claim’s original value.
Other fleets try to handle the process internally. When roadblocks arise, they often let go of the claim altogether rather than invest in additional resources such as attorneys. The fleet is left to absorb the costs of this time-intensive process.
Roughly 20% of commercial vehicles are involved in an accident each year. According to a study funded by the U.S. Department of Transportation, these accidents cause employers more than $72.9 billion annually. In a landscape where in-house managers are stretched thin and fleets are more serious than ever about cost savings, we knew there had to be a better solution for Onward clients. We partnered with AnSR to deliver it.
The value of a fleet subrogation partner
At Onward, we’re always looking for ways to maximize value for our customers and their fleets. One way of doing so is through best-in-class partnerships with companies that share our commitment to optimizing fleet costs and efficiency. Combined with our in-house fleet management expertise, technology, analytics and white-glove service, these partnerships give our clients a level of value only possible with Onward.
In that spirit, we’re excited to join forces with Advanced Subrogation Resources (AnSR) — a fellow Oklahoma City business — to provide fleet subrogation solutions that help our customers maximize their recovery in the event of a property damage claim. As former in-house fleet managers, we can attest to the complexity of managing claims internally and the value of partners with this specialized expertise.
If one of your assets is damaged and you file a property damage claim, trust Onward and AnSR to manage the process — eliminating unnecessary litigation, maximizing recovery amount and removing headaches every step of the way. AnSR leverages arbitration to resolve disputes outside of court; it’s their secret weapon in damage claims resolution.
For busy fleets, the value of our fleet subrogation partnership speaks for itself.
- Calculate the damage’s full costs: The cost of your damage is about more than just repair and replacements. Onward and AnSR will review your fleet records, working together to calculate an accurate loss of use; that’s the expense incurred from running your business without the vehicle. Think: rental vehicles, outsourcing services while the asset is being repaired and other overlooked line items.
- Increase your chances of a win: With a 94% win rate and a track record as panelists on more than 5,000 arbitration cases, AnSR’s skilled experts know how to build a winning claim. Through their savvy arbitration, your fleet can avoid costly, time-intensive litigation.
- Maximize your recovery rate: AnSR’s recovery rate is 74%; that means they recover 74% of the dollars filed, to the tune of $450M over the last 12 years.The industry average recovery rate is just 40%. Because AnSR’s “dollars filed” reflect the damage’s full cost — which goes above and beyond mere repairs — your fleet stands to reap significant value.
- Close your claim faster: Rather than languishing for months or even years, choose a partner with an average cycle time of 30 days or less.
- Stay informed at every stage: With Onward and AnSR on your side, you’ll benefit from transparent, timely communication so that you always know exactly where the claim process stands. White-glove service is our hallmark.
- Focus on your operations, not claims management: Trust Onward and AnSR to manage your recovery process from start to finish. By doing so, you can devote your critical resources to operations — not developing and managing an internal program for resolving claims.
In today’s fleet management landscape, every opportunity for cost- and time-savings is critical. Rather than settling for less than the costs incurred or waiting years for a payout, choose the partners equipped to maximize your recovery — no headaches, and no money left on the table. Contact Onward today to learn more.