Auto Buying Innovator Zag.com Launches Total Loss Auto Buying Program for Insurers

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May 18, 2010, 06:15 ET

SANTA MONICA, Calif., May 18 /PRNewswire/ -- Zag (www.zag.com), the company that powers auto buying programs for top national brands, including USAA, Progressive, Liberty Mutual, major AAA clubs and American Express, today announced the launch of a dedicated Total Loss Auto Buying Program to help auto insurance companies increase customer satisfaction and loyalty, cut claims cycle times and reduce costs. Two years in development, Zag's Total Loss Auto Buying Program was designed in conjunction with industry veterans to help total loss sufferers replace their car quickly and without the usual car buying hassle.

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The Zag Total Loss Auto Buying Program, which is delivered seamlessly to policyholders and claimants through an insurer-branded website and dedicated toll-free number, is provided at no cost to insurers or program users. Historically, no solution has existed that could be easily integrated into the claims process and deliver a consistently positive experience for millions of people each year. Additionally, Zag will soon announce a strategic partnership with a key enabler in the auto claims industry that will further enhance the Zag Total Loss Auto Buying Program.

In order to effectively communicate to policyholders and claimants who are in urgent need of a replacement vehicle, Zag has developed a proprietary tool called Fast Track(SM). With the click of a button, claims representatives are able to quickly introduce the program to a total loss sufferer to help them replace their vehicle through an easy, haggle free car buying program.

The Zag Total Loss Auto Buying Program provides policyholders and claimants with upfront, competitive prices and a low price guarantee(i) on all new cars as well as access to approximately 100,000 used vehicles. Most used vehicles include a Buy with Confidence Guarantee which ensures that a vehicle has been pre-screened to meet Zag's high program standards. Zag currently works with a nationwide network of over 3,000 Certified Dealers who are held to a higher standard of customer service and are contractually obligated to provide a hassle-free buying experience and, in some cases, offer vehicle delivery, vehicle return policies and other benefits. Zag's Total Loss Auto Buying Program also includes robust research tools, safety ratings, reviews, photos and videos to help program users with their selection.

"Zag has been refining its Total Loss Auto Buying Program for more than two years," said Jason Nierman, Director of Total Loss Business Development for Zag. "Our product was built based on insight from Zag's numerous insurance partners, as well as trusted third parties who support the industry. We are very excited to implement the program with leading carriers during the coming months."

Zag has garnered a 95% customer satisfaction rating across its more than forty auto buying programs, and has saved consumers more than $180,000,000 off of MSRP on new cars. Zag now leverages its experience powering auto buying programs for top customer service brands to satisfy the unique needs of insurers and total loss sufferers who find themselves unexpectedly in the market for a car.

About Zag

Zag (www.zag.com) has created a better way to buy a car. Zag powers online car buying programs for more than 40 of the nation's foremost brands including USAA, AAA Clubs, American Express, Capital One and Overstock. Zag leverages group buying power with its nationwide network of over 3,000 select car dealers to provide car shoppers with low, upfront prices and a haggle-free car buying experience. Over 100,000 new and used cars have been sold by Zag dealers since the launch of the first program in 2006. Zag was recently named the second fastest-growing company in Los Angeles County by the Los Angeles Business Journal. Zag is based in Santa Monica, CA.

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SOURCE Zag