Contact Information: Contact: Jennifer Forman Marketing Manager 800-238-9111 x6585 Email Contact
Mitchell International Announces 20th Total Logic(TM) Valuation Customer
| Source: Mitchell International
SAN DIEGO, CA -- (MARKET WIRE) -- October 27, 2006 -- Mitchell International, a leading provider of
information, workflow, and performance management solutions to the
automotive insurance claims and collision repair industries, today
announced that -- one year after its release -- Total Logic™ Valuation,
Mitchell's next-generation total loss vehicle valuation software, has 20
live customers.
Total Logic Valuation empowers carriers to provide their customers with
verifiable total loss values that reflect real market conditions at the
time of loss. Consumers are able to verify all comparable vehicles and the
adjustments that ultimately determined the value of their loss vehicle.
Total Logic Valuation employs an intuitive, but powerful methodology
(developed in association with Power Information Network, a division of
J.D. Power and Associates) that incorporates sold and available vehicle
data to facilitate consistent, and transparent claim settlement for
insurance carriers.
"The Total Logic Valuation tool is being rapidly accepted by insurers
because it delivers a logical and impartial valuation that is easy to
understand and verify, promoting quick claim resolution," said Jim Lindner,
Chief Executive Officer at Mitchell International. "This product was
designed to help our clients meet the needs of their customers, promoting
high customer satisfaction and retention rates and reduced settlement cycle
times while allowing insurance carriers to automate policies and state
requirements."
"Total Logic Valuation's methodology to calculate vehicle value is familiar
to most consumers because it is similar to methods commonly used to value a
home," said Kevin Keegan, Executive Director of J.D. Power and Associates.
"We took a lot of care in developing the most objective, intelligent, and
verifiable methodology possible."
In addition, Total Logic Valuation incorporates data from sources consumers
know and trust, such as cars.com, AutoTrader.com, and J.D. Power and
Associates' Power Information Network. Making comparable vehicle details
available to policyholders promotes improved confidence in the valuation
results because the information used to create the valuations is
verifiable.
The product, officially released last year at NACE, will be showcased
during the NACE Conference in Las Vegas, November 1-4. To schedule a
hands-on demonstration of Total Logic Valuation at NACE, please call:
1-800-238-9111 ext. 6286
About Mitchell International
Mitchell International is a leading provider of information and workflow
solutions to the automotive insurance claims industry, serving carriers,
collision repair facilities, and other commercial participants in the
physical damage and auto-related medical claims processes. Mitchell
facilitates millions of electronic transactions between more than 16,000
business partners each month to enhance their productivity, profitability,
and customer satisfaction levels. For more information on Mitchell
International, visit our website at www.mitchell.com.