iSalvage and eAutoclaims Ink Deal to Drive Savings to Insurance Companies & Body Shop Network
2 October 2000
iSalvage and eAutoclaims Ink Deal to Drive Savings to Insurance Companies & Body Shop Network
NEW YORK, Oct. 2 iSalvage, an Internet-based procurement
network for recycled and remanufactured parts, and eAutoclaims.com, Inc.
(OTC Bulletin Board: EACC), a business to business e-commerce company
utilizing the Internet to streamline and lower the automotive repair paid
costs for insurance companies, have agreed to form a strategic business
alliance. eAutoclaims member shops and insurance companies will now work with
iSalvage to find and procure recycled and remanufactured parts.
Claim auditors at eAutoclaims can search iSalvage.com for recycled parts
online during the claims estimating and auditing process, and will promote
iSalvage by advising their shops and insurance clientele regarding when and
how to purchase such parts. eAutoclaims clients produce a substantial claims
volume, and eAutoclaims.com is able to provide national purchasing programs
for the company's nationwide body shop network. The volume savings are being
passed along to EACC clients and repair network members.
"This is another component of our Member Benefits program for the
eAutoclaims.com Repair Network Members," said Eric Seidel, president and CEO
for eAutoclaims. "It gives our body shops the opportunity to achieve
additional efficiency and savings on both eAutoclaims (and non-client)
collision repairs."
As part of the agreement, eAutoclaims will display iSalvage on the Web
sites it has developed for its member shops, allowing collision and mechanical
repair facilities easy access to the site to search for parts.
iSalvage manages the entire procurement process including searching for
parts, purchasing, shipping, and order fulfillment. As part of this
procurement process, iSalvage manages a large database of recycled auto parts,
updated daily, from the highest quality recyclers in the salvage industry.
"The collision repair industry had 1999 revenues of approximately
$25.6 billion, with approximately $22 billion of that being paid by insurance
companies. The need for a low-cost, high-quality solution for collision
repair facilities and insurance claims adjusters has never been greater.
Customers want quality parts, repair facilities want to be paid fairly, and
insurance companies want to ensure customer satisfaction and convienience, but
at the same time lower their costs," said Jeff Stotland, CEO, iSalvage.com.
"The partnership between iSalvage and eAutoClaims helps all these parties in
the repair process to achieve their objectives."
About eAutoclaims, Inc.
eAutoclaims(TM) is a pioneering business-to-business e-commerce company
that utilizes the Internet to streamline and lower the overall cost of
automotive repair paid by insurance companies and on corporately owned fleet
vehicles. eAutoclaims is establishing itself as the pre-eminent Application
Service Provider for the automobile insurance industry, providing seamless
back-end infrastructures that link thousands of collision repair shops and/or
glass repair facilities into a network. The company offers a cost-effective
and highly advanced "Bricks to Clicks(TM)" Claims System for the processing
and ultimate repair of damaged vehicles filed as insured auto claims and by
self-insured fleets.
About iSalvage.com
iSalvage is an Internet-based procurement network for recycled and
remanufactured parts initially focusing on the automotive market.
Headquartered in New York City, iSalvage was founded in 1999 and received its
second round of financing from Sentinel Capital Partners and divine
interVentures. iSalvage is available to commercial auto buyers and suppliers
throughout the United States. For more information visit
http://www.isalvage.com or call 1-877-645-PART.