PartsTrader and LKQ North America have entered into a partnership to provide access to LKQ’s parts and services through SurePart, the instant parts pricing platform launched by PartsTrader earlier this month.
SurePart provides appraisers with instant competitive part pricing for carrier written estimates. According to PartsTrader, SurePart enables appraisers to write more accurate estimates by filtering out invalid parts and providing market pricing.
“Rather than relying on outdated catalog pricing, SurePart uses actual market pricing and live inventory feeds, resulting in greater accuracy for preliminary estimates, lower severity and reduced cycle times,” PartsTrader said in an announcement. It said SurePart’s suppliers would guarantee their prices for 30 days.
“We are thrilled to expand our partnership with LKQ and include their extensive range of parts and services in SurePart” Greg Horn, PartsTrader’s chief innovation officer, said in a statement. “LKQ has long had a focus on providing quality parts to the industry and they are a significant addition to SurePart’s supplier network.”
Terry Fortner, vice president for sales and marketing North America at LKQ, said, “We are excited to participate in SurePart and share PartsTrader’s vision of ensuring accurate parts are placed on carrier-written, auto damage appraisals. ‘Phantom parts’ have been an issue within our industry for far too long.”
According to PartsTrader, SurePart draws prices from recent quotes provided by suppliers via PartsTrader, and from live pricing directly from the supplier’s inventory management systems. Because each recycled part is unique, all recycled pricing is drawn from suppliers’ inventory management systems.
SurePart only returns parts from suppliers that deliver to the location of the vehicle under repair, PartsTrader said.
PartsTrader said the new platform has been adopted by “multiple partners,” which it did not identify, and said it is actively extending SurePart to meet specific workflow requirements of each client.
“We’re already seeing strong interest in SurePart, both by clients with traditional appraiser teams and from clients who are looking to increase their claim automation,” Horn said in announcing the platform’s launch.
According to PartsTrader, SurePart allows estimates can be written in the usual way. To be successfully exported into SurePart, estimates will need to include the insurer name; vehicle year, make, and model; and one or more parts needing replacement.
Featured image: The PartsTrader booth at NACE 2017. (Repairer Driven News)