The NASP benchmark study indicates that personal/commercial automobile insurance companies recover 29 percent of their indemnities paid. PHH Arval recovers 38 percent of its clients’ total spent on physical damage, rentals and fees related to all accidents. In addition, PHH recovers 95 percent of all amounts it attempts to collect. •Cycle time:
The industry average of cycle time for a personal automobile claim is 199 days. The PHH Arval average is 118 days. This translates into funds returned to the client 81 days faster. Cycle time starts with the day the subrogation process begins until the check is received in-house and includes the days for arbitration claims as well as payment plans for uninsured motorists. •Arbitration:
- For every $1 that PHH Arval paid in filing fees to arbitration forums, its clients were awarded $62.09 via arbitration decisions. The national average for 2006 was $41.61.
- For the total amount of files PHH Arval sent to arbitration, its clients were awarded 61.33% of the total dollars demanded, which is significantly better than national averages.