Intelli Warranty: Software for Fast and Fraud Resistant Warranty Claim Processing

Every year, automotive OEMs suffer huge loss in warranty claim process due to replacement of fault parts. But the main behind the huge loss is absence of a proper functioning to validate the fraud claims. OEMs fail to authenticate the claim and as a result of this simple claim for replacement of defective parts, cost huge to the OEM on regular basis.

Many OEMs face similar outcomes due to long and manual process cycles maintained by huge number of claim processing personnel that result in poor diagnosis of fraud claims, increase in error rate and mismanaged process. In some cases, OEMs are spending up to 4% of their annual revenue on warranty claim management. Additionally, they are also burdened by poor customer services and not so good relation with authorized dealers.

Simplified Warranty Claims Management

In automotive parts manufacturing unit, warranty claim management is a critical business task. It consists of multiple steps claim receiving, analysis, fault code detection, validate and many more tasks. Claim management process also involves the identification of faulty parts that should be returned by the dealers in order to perform R&D. Automation of this long and unreliable warranty management process will streamline the complete management cycle and it will reduce the warranty cost, improve OEM-dealers relation and most important it will improve the parts return management and end-customer experience.

What OEM thinks about automated software is, that it's tricky to implement. But automated warranty claim management software is easy to implement and can be integrated easily with existing setup of OEMs. Implementing warranty claim management system will help OEMs and dealers in easy claim handling process.

Intelli warranty address all phases of an OEM warranty needs - from the assessment of warranty maturity, standardization of warranty processes, the definition of warranty strategy, to the transformation of business rules, building closed loop warranty intelligence, defining the IT roadmap, and much more. Claims rose in the platform, via telephone or web portals - email or chat bots, automatically connect customers to a series of menu options and specialized processing agents using RMA technology. This coupled with image recognition technology enables auto approval of the claims.

Customers can expect swifter remediation in such a claims processing cycle with zero manual intervention, while OEMs and suppliers can benefit by investigating and unearthing fraudulent claims thereby reducing the high warranty expenses.

Key Points in Automated Warranty Claim Management

If we look at the claims management process, there are three key considerations that OEMs and suppliers should consider implementing to improve the claims management cycle and guarantee superior after sales customer experience. Intelli warranty claim management process includes:

1. Easy detection using advanced analytics: In the claims management process, teams often face long detection-to-correction  process. Compromise at this stage directly impacts the warranty expenses of an OEM. They can tackle this challenge by setting up an advanced claims analytics system that can monitor performance throughout the supply chain. the automated warranty claim management system will harness the data generated in the supply chain. This will represent the quantum of quality issues in the products will enable OEMs to detect in the cycle, thereby offering proactive solutions to customers.
2. Increased Collaboration: Product quality issues can also be largely attributed to miscommunications between the warranty claims handling departments and the dealer ecosystem. An increased collaboration is necessary and that is possible by using a common integrated platform that jointly analyzes and shares results. It will reduce the number of quality issues after manufacturing of spare parts.
3. Standardized Business Rules: An automated software with standardized business rules will centralize the various process running across the different departments of an organization, enabling claim approval and rejection on automatic base.

Conclusion

In today's digital era customer expectations are glorified, OEMs and dealers need to focus on after sales services. Integration warranty claim management software can make the path easy for OEMs and can also impact the experience. The automated software will not only ensure the superior customer experience but it will also make the process transparent and cost effective.

In case you have any question or query regarding the article, feel free to connect with team Intellinet at www.intellinetsystem.com