Valuation Committee Home

Operating Guidelines

• To incorporate all potential business entities in the business processes with Valuation Services.

• To work with the group to respond to Valuation Committee goals and timelines.

• To provide an open working relationship with the Valuation Committee within the antitrust guidelines.

Background

The objective of the Valuation Committee is organized to define industry-wide standards to improve and streamline the Total Loss process, from the identification of the vehicle being a total loss through the final settlement with all appropriate parties, excluding the financial exchanges.  

The Disposition Committee has included the salvage disposition process.  The Total Loss process generally involves identification of the potential total loss, submission for valuation of the vehicle, receipt of the valuation, and settlement with the vehicle owner.  Also included is the disposition of salvage and total loss reporting which will be coordinated with the Valuation Committee. 

Traditionally, all communication between Insurance Companies, Information Providers, Adjustors (person who manages the claim settlement), Estimators (Appraisers, person who appraises damage and writes the estimate; staff, independent, body shop, etc.), Salvors, and Vehicle Owners (fleet, etc.) has been done via phone or fax, through websites, or through proprietary and non-proprietary interfaces. 

 CIECA’s alignment of Standards Development Committees to the CIECA Products, changed the name of Salvage Committee to Valuation Committee.

Mission

CIECA’s Valuation Committee’s goal is to help shorten vehicle acquisition and disposition cycle time, make the process more efficient, and reduce the perceived risks by facilitating the electronic transfer of transaction information between all parties.    

 All business needs will be identified that will enable electronic communication within the disposition process between all parties involved. This development is to create the tools to enable bi-directional communication of data and messaging capability between all parties. 

 Both salvors and salvage providers demand a more efficient and convenient process for the disposition of vehicles.

 Setting industry developed CIECA standards is an important step toward this goal.

Industry Segments

Adjuster

Data Recipient

Estimator

Information Technology Company

Insurance Company

Recycled Parts Provider

Third Party Administrator

Third Party Company

Salvor

Vehicle Owner and Self-Insured Company