CollisionSyzygy, Inc. (CSI) is the premier provider of generic claims outsourcing services performed on a highly technological delivery platform which involves the Internet and various proprietory software systems. CollisionSyzygy successfully brings together an insurance company's auto damage claim with the body repair shop in an efficient manner that significantly reduces costs for both.
The goal of this business plan is to acquire capital investment so that CollisionSyzygy can escalate its time-proven business strategy and processes to a level that will reach more of the available market. Time is a critical factor. CollisionSyzygy is as much as a year and a half ahead of its competitors in technological developments that create the efficiencies, in collision claims processing, that result in the profits for its clients. The ability to rapidly infuse money into CSI will ensure that its competitors remain in a posture of emulation. It is CollisionSyzygy's technological advantage, combined with the vast amount of unharvested market potential, that makes it such a phenomenal investment opportunity. In addition, smaller insurance companies will find it impossible to operate profitably without outsourcing collision claims because such companies will not be able to achieve the lower costs that are associated with high volume transactions.
Another key attraction of CollisionSyzygy is that it offers full-spectrum claims processing services, with rapid transaction clearance and both a national and an international marketplace of buyers. Many competitors specialize or limit services due to inadequate technologies; CSI, however, utilizes technology to offer every service available.
CollisionSyzygy is an ongoing company. The company, which has been developing and using its advanced technologies for the past five years, is headed by William Smith, who has 18 years of managerial experience in collision repairs and insurance adjusting.
The company is rapidly building a network of body shop facilities who receive geographic territories in exchange for agreeing to maintain very stringent quality control standards, certifications, and discount pricing, which further enhances the insurance company's profit margin.
Various proprietory software programs and CollisionSyzygy's multi-platform reporting capability promise to make CSI a formidable leader in generic services.
The company is currently operating in a profitable position. With the new investment, CollisionSyzygy should be able to achieve (lofty) sales for the 12-month period of Year 1. Profits before income taxes are expected to be (staggering). In just two years, sales should soar, with (sky-high) pre-tax profits. After-tax profits should approximate (breathtaking). The following chart illustrates after-tax profits.
1.1 Keys to Success
- Vast experience of Chief Executive Officer in the industry.
- CollisionSyzygy is the only company in the U.S. to provide generic services to insurance companies. Until now, claims processing had been performed internally by large insurance companies.
- CollisionSyzygy is almost two years ahead of most competitors in the development of the proprietary software necessary to allow insurance carriers to administer their claims processing. Accident Claims Technology (ACT) is CollisionSyzygy's special software which offers claims management and reporting, making this information available to the insurance company and repair shop. This lead time in software development will make it difficult for competitors to successfully enter the market before CollisionSyzygy has established a significant market position.
- A base of over 100 repair shops comprises CSI's ever-growing network of repair facilities.
- With ACT software already functional, CollisionSyzygyis just a website away from offering its connectivity between insurance companies and repair shops over the Internet.
- As more repair shops join CSI, business can increase dramatically while also maintaining competitive pricing and a high level of quality for repairs.
- Customer service between the repair shop and the customer is greatly enhanced through the use of other Windows®-based proprietary software that swiftly and accurately creates a cost estimate which allows the repair shop to spend more time with the customer and less time creating estimates. Costing is more reliable for the insurance company because of the database resource. Another software program quickly transmits necessary estimates, photographs, and other claims submission materials to the insurance carrier.
1.2 Mission
CollisionSyzygy, Inc. is the only company in the United States to offer a low-cost, generic solution to the processing, administration, and resolution of auto insurance claims. Through its proprietory, high technology process and software, CollisionSyzygy acts much like a phone conferencing switch, channeling insured's claims from the insurance company to the appropriate auto repair shop. This process will result in quality, lifetime-warranted repair work for the insured. CSI manages the entire process and provides comprehensive reporting to the insurance carrier. CollisionSyzygy's mission is to optimize the claims delivery process for each participant in a way uniquely different from its competitors.
The result of CollisionSyzygy's high technology process is--
An insurance company whose claim:
- Is processed in a fraction of the time used in traditional, in-house methods; the claimant receives repair shop location at the time of filing the claim.
- Results in drastically reduced costs to the insurer:
- Thousands of dollars saved on indemnity payments.
- Automatic five percent savings on all repairs by CollisionSyzygy's member repair facilities.
- Loss adjustment expenses become substantially reduced.
- Administrative expenses reduced.
- Control over cost of repairs.
- Avoids costly auto storage by having rapid claim resolution.
- CollisionSyzygy schedules random, spot quality checks of member shop repairs to ensure quality and necessity of repair. Member repair shops must refund the amount of any repair deemed unnecessary by CollisionSyzygy inspectors.
- Insurance reserves are quickly released for use on other claims, minimizing amount of capital restricted.
- Insurance companies will soon be able to obtain true salvage values (rather than estimates) by selling or receiving bids from prospective buyers before settling the claim, via an upcoming CollisionSyzygy Internet service.
- Allows the insurer to access comprehensive management reports detailing all underwriting, repair and resolution activities.
- Is guaranteed for the life of the repair at all participating CollisionSyzygy repair facilities.
A customer/claimant who:
- Can enjoy lower insurance premiums created by reduced insurance costs.
- Will be amazed at the convenience of rapid resolution of an auto claim.
And member repair shops that:
- Can concentrate resources and time on quality repairs and service, rather than costly marketing efforts.
- Offer a simplified claim estimation process through CollisionSyzygy's multi-platform software interface. Claim estimates can be accurately created in minutes, allowing more time to service customers.
In short, CollisionSyzygy is utilizing a managed auto body repair process much like the health care industry has attempted to contain costs using the Health Management Organization (HMO) approach. The exception in this analogy, however, is that cost efficiency is achieved by eliminating unnecessary elements of the traditional claims process, rather than by eliminating necessary repair procedures or parts.
Claims processing is only profitable on a large volume basis. This makes it difficult, indeed prohibitive, for smaller insurance companies to run profitable claims operations. The claims processing formula established by CollisionSyzygy will allow smaller insurers to handle claims profitably while also increasing the margins of larger companies.
1.3 Objectives
CollisionSyzygy From June 1, 2000 to May 31, 2001:
- Achieve pre-tax income of (astounding) on revenues of (immense) (splendid%) net income before taxes.
- Capture and control a minimum of ten medium and large insurance company accounts for claims processing market. By the end of Year 2, market share to climb to 60 companies. Full target market currently consists of approximately 2,600 insurance companies.
- Promote name branding of CollisionSyzygy so that a minimum of 220 repair shops become certified members of the company's program. By the start of Year 3, this number should grow to approximately 2,000 repair shops due to CollisionSyzygy's implementation of various unique programs and technologies that are not currently available in the marketplace.
- Convert proprietory software platform to an e-commerce website to enhance access to the CollisionSyzygy process by both insurance companies and auto repair shops.
- In conjunction with the site launch, add and support full, online service auction of bids and sales of salvageable automobiles.
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