Armada’s insurance services (originally branded 43r.ca) is an insurance company outsourcing vendor that supplies the insurance company’s automobile claims departments with proprietary and detailed vehicle pricing reports (specific to their requests). Armada insurance services have four (4) main processing units in order to offer our insurance company clients a full service of automobile pricing solutions. The processing units include:

  Waiver of Depreciation claims reports
  Actual Cash Value (ACV) claims reports
  Replacement Vehicle (New Vehicles) claims reports
  Insurance Company Employee Purchase Program (pricing reports/offers)

Armada Insurance Services originally evolved from the processing of total loss claims of vehicle’s that had the waiver of depreciation endorsement (43r endorsement) attached to the automobile policy. Armada pioneered a new standard and method of processing total loss claims with the waiver of depreciation endorsement and produced claims payout savings for the insurance companies while at the same time, satisfying the insured with a pre-negotiated price on a new vehicle replacement (vehicle). Armada’s novel strategy of combining our proprietary automobile pricing data with the insurance company’s need to settle total loss automobile claims at the ‘most accurate’ pricing available has developed the potential for a long term synergy and innovative business relationship between the insurance company and Armada Data Corporation.

Waiver of Depreciation / 43 Endorsement

The Canadian Automobile Insurance Industry offers a waiver of depreciation / 43 endorsement attached to the insurance policy on over 90% of new cars sold in Canada. In cases of total-loss claims including accident or theft, this endorsement entitles the insured a settlement amount that will not reflect the depreciation affecting all new cars within the first two to three years. Insurance companies typically allow the endorsement to remain valid for up to two to three years with expiry dates varying from province-to-province. The endorsement permits the insurance company in cases of a total-loss to pay the insured the lowest of the following:

1.  Original purchase price (paid by the insured when the vehicle was first purchased)
2.  MSRP (manufacturer’s suggested retail price) of vehicle on the purchase date
3.  Today’s replacement cost of a new vehicle of the same make/model (similarly equipped)

Armada Insurance Services charges a very reasonable fee to supply the insurance company (either directly or through one of their accredited adjusting firms) with a detailed report containing the 3 settlement options pursuant to the endorsement. Armada Insurance has produced significant claims savings for the insurance companies resulting primarily from the incentive based prices changes that are common and regularly offered by the new car manufacturers.

Actual Cash Value (ACV)

Total loss automobile claims that do not have the waiver of depreciation or new car replacement endorsement (or the endorsement has expired) qualify for the actual cash value (ACV) of the vehicle. The actual cash value is the amount of money that it would require to replace the vehicle today with the same vehicle, similarly equipped and the same odometer reading (mileage). The accurate determination of this amount is very difficult, somewhat subjective and requires an expert vehicle pricing firm (and a used vehicle pricing database) to professionally accomplish the objective. Armada Data Corporation developed a used vehicle pricing database that provides up-to-date and model specific replacement vehicle pricing on all used vehicles from 1990 and newer. Armada Insurance Services uses this database to produce a pricing report which is supported by 3 actual similar vehicles that are available in the marketplace today (within the same geographical location as the total loss vehicle). Armada Insurance Services charges a very reasonable fee to supply the insurance company with the two (2) reports ("ArmadaPro" and "ArmadaMarket") that comprise of Armada’s ACV offering.

Replacement Vehicles

Due to the competitive nature of the insurance business in Canada and the quest for insurance companies to write more personal lines business with their insured’s; many major insurance companies are offering new vehicle “replacement” policies. This policy endorsement (where the insured pays an additional premium) supplies the insured with the replacement value of the vehicle with a brand new vehicle with similar equipment for up to 60 months (5 years) from the original purchase date. This optional policy is becoming more popular amongst the insurance company community and Armada Insurance Services is poised to provide the processing reports for these new vehicles. (Essentially, the “replacement” policy is the same as the waiver of depreciation endorsement without the need or relevance of the original purchase price or the MSRP at the time of purchase). Armada Insurance charges the same fee as the Waiver of Depreciation for this report; Armada feels that this optional policy enhancement will gain in popularity within the marketplace causing more revenue potential that did not exist without this special policy.

Employee Purchase Program (EPP)

Armada Insurance Services offers all employees of insurance company clients the same pricing and services contained within our Replacement Vehicle report offering. An insurance company employee who is in the market for a new vehicle can retain Armada Insurance Services (for the same fee that is being charged to the insurance company) in order for our processing team to supply them with: wholesale-like pricing, a signed dealership acknowledgement from a dealer in the employee’s geographical area, a dealer contact to administer the sale and an Armada Insurance Services account manager to quarterback the final purchase. Armada Insurance Services has only promoted this offering within the automobile claims departments of the insurance companies but have plans to include this offering to all the employees of the insurance company. Moreover, Armada has plans to make this offering part of the employee’s benefits package (currently being offered by the insurance company to their employees).

The Market

Currently Armada Insurance Services is the vendor of record for some of Canada’s largest (private) insurance companies (including TD Insurance, Aviva Insurance and Allstate Insurance). As a result of Armada’s significant product lines, continuously improving services and the relationships with the retail sector of the car business; Armada feels that our services will be retained by more insurance companies (private and the powerful public companies) as the quest for profit and better customer services is heightened.