The Saudi National Insurance Company (SNIC) has entered into a key agreement with Copart Bahrain.


The agreement aims to raise the efficiency of the marketing process of salvaged vehicles resulting from the settlement of total loss claims, said a report in the Gulf Daily News (GDN), our sister publication.


The signing ceremony was attended by Copart president Vincent Mitz, Saudi National Insurance Company general manager Khalid Al Shaikh and representatives of both companies.


Copart is an international company specialising in logistic and operation management as well as online auctions of salvaged vehicles over the Internet. 


The company has its own advanced technologies through which it can provide a global marketing gateway, enabling it to attract a wide audience and guarantee the best prices for the sellers.


“The experience of an international company such as Copart will facilitate the marketing process of  salvage vehicles after the settlement of the constructive total loss claims and make it more efficient and reflect positively on the motor loss ratio,” Al Shaikh said. - TradeArabia News Service