Importance of Automotive Warranty Claim Management for Modern OEMs

In today’s world warranty costs seems as burden to the manufacturing OEMs. Many of them spend around 1.5% of total revenues on warranty every year. To reduce this cost they need an automated solution, because due to manual process they are bearing so much cost. For all such OEMs, automotive warranty claim management software is the best choice. The benefits of such solution are given below:

• Detect Fraud Claims Easily

The software offer customizable business rules in accordance to claim process. In enable OEMs to scrutinize alerts and detect fraud claims.

• Automate Warranty Processing

It automates the claim processing at organizations and alerts them if any error occurs and ensures the claims are processed quickly without any delay and optimum accuracy.

• Enhance Accuracy In Payout

The robust administration of software powered with extra ordinary features ensures the accurate work processing and accuracy in claims payout.

• Improve Field Diagnostics

The software provide instant and detailed report of failure, if occurs and help service engineering teams to diagnose the problems easily and  reduce workmanship defects, and reduce overall cost.

• Enhance Service Limits

The software enables repair development and enhances parts service limits. Also, it helps in extending repair intervals to reduce downtime and warranty cost.

• Improve Product Quality

The software analytics helps in improvement of product quality and enable product engineering function to reduce detection-to-correction cycle time for critical improvements.

Also, according to latest work process in OEMs, per minute they are generating enormous amount of data.  But the question is what they are doing with such great amount of data? Or they are aware about this data generation or not?  

Well, these are broad questions, but if we look at the historical trends on data collection, it has been noted that at organization be it small or large data resides almost everywhere.

In addition to this, data also resides outside the enterprise — across the value chain and with dealers. But what is the use of that data if it not centralized? OEMs always look for the way to automate the process, but it not possible without an automated system. In this series, automotive warranty claim management is the solution for such tasks. With various other tasks, in also help in automating the data collection process across operations. OEMs need such technology to centralize repository and to achieve target faster and also they need to leverage such technology to streamline warranty process and increase revenue. Here are top trends of this software that can have significant impact:

1.  Increase use of Cloud Technology: By integrating such software with their existing software OEMs and their authorized dealers will feel more relaxed as they will have their warranty data in the cloud. Cloud based automotive claim management solutions gives them opportunity to get faster ROI without huge upfront investments.

2. Recall Management: By implementing the software the OEMs will be able to fulfill customer expectations of performing product recalls process easily and quickly. Also, companies can identify, track, and manage emerging issues proactively.

3. Increased use of mobile services: Warranty OEMs can use mobile applications to check claim status, receive notification, click and send images related to claim, access product history, and can refer to all resources.

4. Warranty analytics: OEMs can improve accuracy of warranty accruals, identify emerging issues, prevent claim fraud, and reduce the time needed to counter issues. Also the cloud based analytics can benefit departments in a better way than ever before.

5. Use of Internet of Things (IoT): IoT can change the way of diagnostics and collecting warranty data. The warranty claims can be proactively generated from using the data collected using IoT.

In case you have any query about the software, or if you need free demo of the software, just connect to www.intellinetsystem.com