FORT WORTH, Texas--(BUSINESS WIRE)--The insurance industry can be a perilous landscape filled with hidden costs and fees. That’s why one of Property Damage Appraisers’ (PDA) main goals is to write an accurate and fair appraisal that’s economical for the insurance carrier as well as a fair settlement to the vehicle owners and the repair facility. In turn, the company has set higher industry standards in cost savings and has netted clients over $330 million in total savings through alternative parts usage (APU) and smarter refinish time estimating.
When a vehicle is damaged and a PDA estimator manages the repair process, they work as an objective third party to ensure costly details are not overlooked. Many times this occurs through APU, instead of using original equipment manufactured (OEM) parts. Alternative parts choices may include aftermarket replacement, reconditioned and recycled parts. From 2010 to 2015, PDA’s improvement in using APU has resulted in a collective savings of over $290,000,000.
According to The Property Casualty Insurers Association of America, non-OEM parts (or APU) saved consumers more than $2.2 billion in insurance costs in 2010. Also, aftermarket parts are 26 to 50 percent less expensive than parts made by OEMs and often have longer warranties.
“When we can help insurance companies keep premiums down, we know that we’re providing the best service possible,” said Tom Dolfay, CEO of PDA. “At PDA we like to call our philosophy ‘smarter estimating.’ Although it seems intuitive and quite logical, not all companies emphasize saving their clients money. We understand the value PDA brings to the table, and we require our team to create more efficiency in the repair process for our customers.”
The refinishing process can also be costly and, if not managed correctly, add extra expenses to the overall cost of an appraisal. PDA estimators work as a liaison between insurance carriers, third party administrators (TPA), fleet administrators and body shops to accurately assess the paint materials and labor essential to refinish the vehicle properly.
For example, any time a vehicle is damaged and needs repainting, the repair shop should only refinish damaged panels and take the time to match and prepare the panels to ensure a proper repair. Many panels with minor damage can be refinished by blending within the panel, therefore reducing time spent and materials used, while still producing a quality repair. In instances like these, PDA estimators are there to ensure clients pay what they owe to properly repair the vehicle.
During the same five-year period, through PDA’s refinish expertise and quality standards, the cumulative refinish dollars savings for clients exceeded $40,000,000.
“These results are a direct outcome of meeting and exceeding our business objectives to improve estimate quality, ultimately resulting in cost savings,” said Ken Loose, COO of PDA. “This means that insurance companies pay what they owe – no more, no less.”
About PDA, Inc.
PDA’s highly-skilled national network of appraisers performs auto, heavy equipment, marine, motorcycle, property and recreational vehicle damage estimates, and lease turn-in inspections. Each year PDA and its franchise network of over 650 professional appraisers serve over 2,500 clients and complete over 400,000 estimates and inspections. As a leader in the estimating industry for more than 50 years, PDA’s turn-key solution includes PDA Xpress, a Web-based photo damage estimate tool and PDA Claims Management solutions. For more information, follow PDA on LinkedIn or visit http://www.pdacorporation.com.