Allstate Insurance Co. and Amica Mutual Insurance Co. are
among those interested in using CynCast's Shop Performance
Value (SPV(tm) Rating) as part of the application process
for collision repair shops looking to participate in their
preferred repair programs.
CynCast, in collaboration with I-CAR, Enterprise Rent-A-Car,
Cal-State University and others in the industry, has
developed a single value scorecard, called SPV Rating. In
addition to producing a single score that blends key
performance indicators (KPI), the program provides standard
definitions for each KPI value in the calculation of the SPV
Rating.
Launched earlier this year, the new program is
made up of the following metrics:
– Recognized management
system for increased data accuracy
The standard SPV™ Rating measures a repair shop’s
performance against the overall market average in the MSA
(Metropolitan Statistical Area) in which it competes. The
methodology for the rating is consistent across all markets
and all repair shops.
Doug Kelly, President and COO for CynCast, said “Recognition
from a number of the industry’s leading insurers will
definitely help bring some level of sense to all the
reporting currently taking place in the market. Repairers
and insurers have been inundated with too much information.
It’s been our goal to cut through the clutter and provide
one independently verifiable number repairers and insurers
can trust.”
PAGE 2Tracy Tramm, Claims
Service Manager for Allstate said, “Having an independent
means of verifying performance before we add a shop to our
direct repair program will help ensure that our customers
and field staff are doing business with the best shops in a
given market”.
Scott Wendel, Auto Physical Damage Manager, Amica, said a
key reason for the SPV Rating program is “the need for
consistency in measuring performance, not only collision
repair but all segments of industry.” Wendel said he hopes
the SPV™ Rating program will result in greater transparency
with insurers and shops “Long-term,” he said, “this program
could become a marketing tool for our customers to self-
select shops based on a standardized performance
measurement.”
For more information, contact Doug Kelly, President and COO
of CynCast, at [email protected].
