Warranty claim is certainly one of the most vital aspects of today’s multi-dimensional aftermarket ecosystem as it somehow controls how your end consumers feel about your brand. It is critical for OEMs to deploy a seamless warranty claim management process to ensure that any negative experience doesn’t impact the productivity or reputation of the business.
On the surface, a warranty claim cycle starts when a customer goes to the dealer and requests a replacement. After helping customers, the dealer files the claim to the OEM who then evaluates the claim as per warranty policies and proceeds with the process of reimbursement. Among thousands of claim requests, it can be difficult for OEMs to deal efficiently with the warranty approval and clearance cycle.
However, strategic automation with the help of warranty management software can be an outstanding development for the claim process. In this blog, we will discover what an efficient claim process looks like:
Accurate Identification of the Claim Type
Every spare part, accessory, or component has a specific warranty period and extensive guidelines for repair and replacement. This data related to a product’s shelf life and claim warranty is generally managed by the OEM. But accessing the exact information at the time of processing multiple claims can be tedious.
With an efficient warranty management system, manufacturers don’t need to delve into a vast pool of stored information. The software identifies the claim type and enables the manufacturer to review the request thoroughly before sending a final approval.
Flexibility of Checking Claim Coverage
As a manufacturer, maintaining clear communication with a wide network of dealers, distributors, and retailers can be perplexing, especially in the case of claim management. In addition, there is a good chance that the info you received in a claim request may not match with what you already have in your records.
You can utilize an efficient warranty management system to quickly check the coverage of each claim without splurging your time in searching for product-specific details.
Template-Based Warranty Claim Request
Aftermarket software solutions are designed to minimize the gap between dealers and OEMs and a warranty claim management system does it with precision. With dedicated portals, dealers can request a claim simply by filling up a form.
Automation lets dealers create claim requests by choosing a template form where they can submit the required details along with supporting documents.
Simplified Means of Claim Evaluation
The fact that OEMs don’t need to review each claim one by one highlights the absolute necessity of automated warranty management software. Such software comes with the functionality of converting the warranty data into PDFs, excels, Microsoft SSRS, and similar formats. This way, manufacturers can analyze the warranty data and check the status of numerous claims at the same time.
Transparent Audit Trail for Dealers
While OEMs have started working on the claim review and approval process, how would dealers know the status of their claim requests? An error-proof and transparent audit tracking is one of the top features of warranty management software. It enables dealers to learn about the status of their warranty requests and upcoming reimbursements.
Some of these tools also allow OEMs to divide the claim approval process among a team of approvers.
What to Expect from Warranty Claim Management System?
A warranty claim management system contains the part history and every minor detail associated with its warranty cycle. This way, dealers can conveniently file a claim on the portal. The OEM will be able to review it on the basis of various warranty terms and other relevant information available on the portal.
To get a better understanding of a warranty management system, you can shortlist a few software providers and connect with their teams. You can also book a demo to see how these systems will align with your business objectives.