Combined Ratio Script
Hi, my name is Tina and I have worked in the physical damage department for MAPFRE for XXXXX year(s).
As you know, if we reach a Combined Ratio goal of <100%, we are eligible for a $500 bonus for this calendar year. In the recent video by John Meciak, he explained the formula that makes up the Combined Ratio. From the perspective of the Claims department, the areas we can influence the most to improve the Combined Ratio involves reducing expenses and controlling claim payments. The program that has the greatest impact on both these criteria is the use of the CAR EZ program. Did you know the average savings on a CAR EZ repair is $833.37 per vehicle compared to a non-CAR EZ repair? There is an additional savings of $80 for not having to hire an appraisal service. This combined with an average of 2.5 FEWER rental days and an average of 4.5 stars on Customer Service Survey ratings, using CAR EZ is a win-win for our company and our customers. As of June 1st we averaged combined savings of $2,426,979 per month or estimated annualized savings of over $29 million for 2018. This is the result of using the CAR EZ program on approximately 48% of our repairs to date. As you can see, this program generates tens of millions of dollars in savings and if we could increase its usage, the savings would be even greater. (Feel free to put in your own conclusionary statement here) Although we cannot insist customers use a specific shop, there clearly are benefits for the customer in terms of ease of use, reduced repair time and coordination of rental options. The customer service surveys confirm that our customers are very satisfied with this program; and the benefit to us in terms of savings is extraordinary. Another way my department helps improve the combined ratio is through use of the ePICS program. This is a great option for customers because they literally control the process. A few pictures from their smart phone sent into our Material Damage Staff results in an appraisal within 24 hours followed by a payment. Year to date there have been 2,040 ePICS. Similar to the CAREZ program, there is no appraisal fee which contributes to the savings by $163,200. I invite everyone to promote the CAR EZ program and ePICS for more satisfied customers and to help us meet our Combined Ratio goal.

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