Product details
Service Concept
ValueChecker is the global standard for product appraisals. This includes product identification and best Like-Kind-and-Quality replacement suggestions. Using artificial intelligence, advanced heuristic, matching and data analysis technology we provide superior and faster results than is humanly possible.
Find any product that is available on the internet by providing the ValueChecker API with only a description of the product. The ValueChecker API will also handle generic products (like shoes, pants, shirts etc..) and find relevant and fair market prices.
Users and Policyholders
Users are normally the Claim Handlers and Adjusters who interact with the ValueChecker API. Traditionally, they are doing so on behalf of a third party (such as an Insurer or a Claim Handling company).
In the case where the ValueChecker is implemented into a frontend
solution (such as First Notice of Loss), the Policyholders are the
users.
Sequential Task Flow
The ValueChecker API is a wrapper on top of a robust system of data aggregation, analysis, comparison and matching technology. To use this system in its most powerful form and realise the maximum benefits (cost savings, improved NPS and maximise STP claim handling) this system should be used in a sequential manner. Each subsequent action adds further value to the flow.
Claimed Product: (CP)
To calculate and deliver the best Like-Kind-and-Quality replacement suggestions, ValueChecker needs to know what is being claimed (lost or damaged items). The higher the level of accuracy in describing or selecting the CP, the greater the precision in the replacement suggestions. In most cases, every action on a product should begin with a query to the Product Search endpoint.
Replacement Product: RP
At the heart of the ValueChecker service is our Replacement Product technology. It calculates not
only what would be suitable Like-Kind-and-Quality replacement products for the claimed product
(using our internal product identifier, the pid) but also where it is available and at what price
in the country of claim. The Replacement Product endpoint requires a pid.
Appraisal Management
An Appraisal is a key data structure. It contains a pair of products (CP, RP) and any calculations made on them. Calculations can involve metadata like purchase/claim date (for depreciation) or product category/cost. Appraisals can be grouped in carts with user-defined references. Downloadable reports can be generated for single appraisals or groups.
Team ValueChecker is available for support and we welcome you to contact us at any time.