At MAST we set clear quantitative goals for our customers and their salvage inventory resale performance. We track productivity, measure our impact to the bottom line, and provide detailed monthly and YTD reporting for true measurable results
"I have the privilege to work with Jim Hissong and the folks at MAST, and find them to be very engaged in our company's salvage recovery results. Their wealth of insurance experience and knowledge in salvage recovery, contributes to their ability to identify and act on opportunities and challenges. The in-depth information they are able to provide and their communication and presentation skills are excellent. I would highly recommend Jim and MAST as an asset to any company's salvage department."
--Phillip C . Piper,
Specialist Unit Manager Germania Insurance
Increased Gross Returns
In 2013, MAST brought more than $2 million in rerun gain dollars back to its customers. That averaged to an additional $94.56 per every vehicle sold through auction or an overall improvement of 1.36% increase in gross return dollars.
Maximized Value on All Vehicles Sold through Auction
At MAST we think like the buyer. We reveiw and consider the value of each vehicle set for sale from the perspective of auto rebuilders, part recyclers, and metal scrappers. Every vehicle has value. We don't discriminate based on damage extent or actual cash value.
“Jim [CEO MAST, LLC] is extremely knowledgeable about the salvage industry and trends, and has a strong ability to organize a group of people to efficiently manage salvage inventory and paperwork, as well as maximize salvage recoveries. Jim empowers others to produce results that exceed expectations, and allows them to work autonomously to achieve the goals at hand. He is detail-oriented, which leads to his success in the salvage field.”
“I was fortunate to have the experience of working with Jim [CEO MAST, LLC] in both management in Texas and later more directly on salvage initiatives during my tenure as the National Salvage Business Leader at Progressive Insurance. Jim is extremely knowledgeable in all aspects of salvage handling. He has a true passion for the industry and the enthusiasm he brings to a team or project makes it a pleasure to work with him. He is innovative in his ideas, his plans are well thought out, and he has strong relationship-building skills. He would make a valued business partner to any organization.”
Corporate Process Manager
Right Decisions. Right Time.
Our goal at MAST is to improve gross returns for our customers through auction without negatively impacting other aspects of the claim process or auction environment. We carefully monitor our affect on cycle time and pay close attentions to our sell / no sell decisions to ensure a healthy relationship with the local and national buyer base.
Right Decisions. Right time.
Our goal at MAST is to improve gross returns for our customers through auction, without negatively impacting other aspects of the claim process or auction environment. We carefully monitor our affect on cycle time and pay close attention to our sell / no sell decisions to ensure a healthy relationship with the local and national buyer base.
We aim to make the right decisions. When a vehicle yields a reasonable return through auction, we want to sell it. MAST knows at the end of the day, respect among buyers is key to maintaining strong future returns. We don't nickel and dime buyers for $25.00 or $50.00 above what they bid at auction simply because this type of repeated action could easily lead a buyer to think twice on bidding on a MAST represented car the next time around. And
that’s bad for everyone.
But we also aren't soft when an initial auction return yields something far from a fair market value. We will hold fast when a car just isn't bringing the right money. And while a buyer at auction is typically looking for a deal, most of the time they’re equally willing to pay fair market value.
Through 2013, MAST averaged a rerun rate of 21.5% with an average gain of $439.00 on vehicles we rejected initial auction bids on. We target the right cars, and carefully measure our decisions. Through that same time period we measured a rerun success rate of 87.4%. We define success by accurately identifying vehicles ripe for a positive gain. If we don't make more money for our customer, it’s not success.
We also understand the importance of cycle time to our customers. We know date of loss to closure rate is carefully tracked internally by most insurance providers. While our negotiation process does slightly impact the overall salvage cycle time of a vehicle sold through auction, we're proud to say that affect is extremely minimal. On average, in 2013, MAST customers experienced a cycle time extension of only 1.91 days with the adoption of the MAST process.
We work as accurately and efficiently as possible to negotiate fair and accurate auction results on behalf of the customers we represent, to produce maximized salvage returns, and the least possible cost in claim resolution to our customers.