Catastrophic Loss case study background
A European OEM with a production facility close to a port has a fast-flowing volume of vehicles for short-sea departure to other European ports as well as deep-sea departures to other global regions.
A hail storm took place at the port facilities which affected approximately 4,000 units with destinations around Europe.
Our approach and actions
On announcement of the event, UCM Global requests information from the site about the number of units affected, VINs and for an initial inspect to be performed. Based on this UCM Global decides if this qualifies as a CAT Loss event, and at that point informs the OEM and their insurer.
Within 24 hours UCM Global has a representative onsite and has a sample of affected units washed and made available for further inspection. A selection of PDR companies are also invited to attend the site and review the damages.
Arrangements are made with the compound for repair facilities or a temporary tent to be provided, and washed vehicles to be made available according to a priority list provided by UCM Global, based on feedback from the NSCs about sold units. UCM Global also arrange for a specialist inspection company to provide pre-repair inspections and post-repair quality checks to ensure only damaged vehicles are repaired and when they are to the correct quality level.
In this specific case, due to high volumes of production needed to be moved through the port, a decision was taken with the OEM to move units to their next port closer to their destination market. UCM Global arranged compound, inspection and repair capabilities at each of five different sites simultaneously.
UCM Global then acted as project manager for the daily prioritisation and confirmation of repair and release of units back to the OEM central quality team, insurer and NSCs. Any problems were coordinated through the UCM Global team in real time and recommendations were made to the OEM for their approval.
All sites completed their repairs within time and cost targets and UCM Global coordinated the submission of invoices from supplier to insurer.
The cost of this event was approximately € 1.2 million.
Results and benefits
UCM Global’s Management of Catastrophic Losses have the following benefits:
- Instant access to dedicated and knowledgeable on site resource and central project management team
- Minimisation of delayed delivery of affected units
- Daily activity reporting, including from multiple sites if required
- Full records of damages and repairs
- Improved NSC and Dealer satisfaction
