A CHAMP Blog
Boosting Efficiency and Security in Insurance Processes Reprinted from CLM Magainze In today's growing digital landscape, leaders in every industry—including insurance—should ask: How can technology enhance the way we work? From generative AI to cloud computing, technological innovation offers endless opportunities to improve work systems and processes. One system that remained archaic until recently is […]
The expense of inefficient title management quickly multiplies into significant financial losses. What’s the sum of it? Paper titling is not just slow but expensive and inefficient; digital titles are the solution. Republished from AutoSucess Magazine, November issue As an auto dealer, time is money, but when title processing is slow, it is a whole […]
Republished from CBT News As we get ready to turn the page on 2024, it is an exciting time to reflect on how digital innovation has transformed our world. Think about it: over 300 billion emails are sent daily worldwide, compared to just 200 million letters mailed in the U.S. More than 60% of consumers […]
Republished from AAMVA's MOVE Magazine Department of Motor Vehicles (DMVs) across the country are facing a critical challenge—the need for speed in service delivery. Businesses associated with title and registration, such as car dealers, lenders, and insurance carriers have shifting needs and find the current 40-to-60-day delays unacceptable for operations. The pressure on DMVs to […]
Republished from Auto Success E-commerce is the future for auto dealers. A 2023 McKinsey survey found that a third of buyers want to purchase their next vehicle online, citing "speed" and "simplicity" as major factors. Yet, making online retail into a reality has remained a challenge for auto dealers. In 2022, online car sales accounted for just two percent […]
Republished from CBTnews.com Remember the paper boarding pass? When commercial flight began a century ago, a plane ticket was a paper tag handwritten by an airport desk agent. After many innovations—boarding passes with expensive but scannable magnetic strips, boarding passes with barcodes, and print-at-home boarding passes—boarding a plane is as simple as downloading a QR […]
Republished from AFSA It is the reality of every business: Faster transactions mean faster payments. In the case of the AFSA community, the quicker the lender can add or release a lien, the quicker the dealer gets paid. There is only one way to speed things up in the modern world: improve efficiency. The best […]
In the rapidly evolving automotive industry, efficiency and agility are paramount for maintaining an edge. This is especially the case for automotive fleets, which have experienced major disruptions across the industry with unsettling economic conditions that have impacted nearly every aspect of fleet operations. From increasing maintenance costs to higher fuel prices, the cost of […]
Online car sales have been steadily increasing year over year. By 2026, online purchases will represent 15% of all sales – compared to just 2% in 2022. In five years, that number could reach as high as 40%. The truth is, the selling of cars online was inevitable once broadband became a reality. Yet online […]
Champ Titles is thrilled to announce the closing of $18 million in Series C financing, marking a pivotal moment in our journey towards digital transformation. This significant investment underscores our commitment to revolutionizing vehicle titling and solidifies our position as a frontrunner in digital title, registration, and lien systems in the United States. Led by […]
Department of Motor Vehicles (DMVs) across the country are facing a critical challenge—the need for speed in service delivery. Businesses associated with title and registration, such as car dealers, lenders, and insurance carriers have shifting needs and find the current 40-to-60-day delays unacceptable for operations. According to Shane Bigelow, CEO of Champ Titles, the pressure […]
Champ Titles CEO Shane Bigelow appeared on The Business of Blockchain with Jane King to discuss how Champ Titles has achieved the largest deployment of blockchain for the U.S. government to date. Sitting opposite the renowned TV anchor, Shane specifically addressed blockchain’s role in digital vehicle titling. We’ll dive into the interview and explore how […]
After years of relying on outdated methods to process vehicle titles, consumers are looking for a better way to manage their assets. Two decades into the existence of electronic titles, the automotive landscape is experiencing a shift towards digital titles, redefining the parameters of ownership and management. Let’s look at the differences between electronic titles […]
Digital titling is a significant advantage for retailers in the auto sales industry, especially for those conducting business entirely online. The West Virginia National Digital Titling Clearinghouse (NDTC), powered by Champ Titles and Tyler Technologies, ensures that major retailers can significantly optimize the efficiency of the vehicle titling process. This increased optimization generates a remarkable decrease […]
In today's dynamic governance landscape, a significant transformation is underway, notably the simplification of vehicle title and registration processes for businesses. Whether you're a vehicle retailer, wholesaler, insurance carrier or fleet operator, governments are adopting advanced technologies to streamline your operations. Digitalization of Documentation Gone are the days of long wait times at the DMV, […]
The Paradigm Shift In the rapidly evolving landscape of auto retail, traditional methods are increasingly showing their age, becoming bottlenecks in an otherwise streamlined process. While the industry has been quick to adapt to innovations in marketing, sales, and operations, one area that has remained relatively untouched is vehicle titling. As a thought leader in […]
The future of the automotive industry promises a host of innovations, from self-driving cars to nationwide digital tolling—all made possible through cutting-edge technology. Some of the most exciting developments making waves on the market are already here—digital license plates and digital vehicle titling. These advancements are reshaping the way vehicles are purchased and registered. Ford, […]
In today's digital world, most transactions can be completed online. From shopping for groceries to buying a home, the internet has become an indispensable tool for convenience and efficiency. One industry embracing the shift with open arms is the automotive sector. Online auto auctions offer the flexibility dealerships need to stay agile. These auctions are […]
Enhanced Security Measures in Digital Vehicle Titling and Registration Systems Many industries are undergoing a significant transformation, leaving behind traditional approaches in favor of digital methodologies. Among these sectors, the vehicle titling industry stands out as a prime example of this transition. Leveraging the power of secure digital platforms, such as West Virginia DMV’s digital title […]
In today's rapidly evolving digital landscape, the convergence of public and private sectors has led to groundbreaking innovations that redefine traditional processes. Among these advancements, the digitization of car titling stands out as a stellar example of collaboration at its finest. This transformative endeavor not only streamlines bureaucratic procedures but also fosters a synergistic relationship […]
From AI-powered tools to data-driven solutions, the rapid advancement of technology has sparked transformation across various industries. One such innovation comes in the form of digital vehicle titling, a groundbreaking solution that significantly impacts financial inclusion in the United States. Unlike the conventional paper-based approach to car titling, digital titling harnesses the power of technology […]
Rapid advancements in technology and digital systems have streamlined numerous industries, yet our DMVs remain stagnant with decades-old technology—largely due to manufactured fears fueled by myths and misconceptions that continue to surface in our media and among those within the industry. As the CEO of CHAMP Titles, a Cleveland, Ohio-based company and creator of the […]
In this new digital age where vehicles can be purchased online and delivered in as little as days, it begs the questions: why does processing registrations and titles for those vehicles still take so long and why are these documents still issued as paper when digital solutions are available? These questions and others have filled […]
Henry Ford shook the automobile industry with the introduction of his Ford Model T back in 1908. By turning the current business model at that time upside down, he created a path forward for every consumer and family to own their own vehicle. Now, just over 100 years later, we’re witnessing a new automotive transformation, […]
It is 2022, and US government is ripe for adopting digitization for two main reasons: the benefits (cost, security, ease just to name a few) are significant and the touchpoint are numerous (331 million citizens and counting). When most people think of government, they do not consider it a first mover for adopting innovative technology, […]
The old adage goes, “What you put into things is what you get out of them.”. It turns out this is not just guidance for personal effort. In fact, it holds true for technology too. More data is being collected and stored than ever before so the quality of that data as the input must […]
In today’s rapidly transforming environment, organizations are pressured to accelerate their investments in the creation and conversion of content, assets, and data to scale services and products across a multitude of digital channels. Despite the move towards digital, many organizations continue to operate using 20th century, analog processes and capabilities. So, while the final asset […]
Digitization is the process of creating a digital representation of an asset. You can read more about that in our earlier post here. Blockchain technologies are well suited to be the system of record for these digital representations. They have the potential to improve asset security, efficiency of the processes involving the asset, and trust among the […]
We have defined digitization and now understand what it means in theory, but what does it actually mean for you and me? It is not some futuristic intangible. You are likely benefiting from digitization right now, and you might not even realize it! Let’s consider some examples of digitization in practice. 1. The most obvious one starts with the device on which you […]
Abridged version originally posted on GCN.com These days, it seems, everyone has a prediction about what life will look like in a post-quarantine world. In the past few months, the COVID-19 pandemic has taught Americans a lot, and there can be no doubt there are further learnings yet to come. Two things we have learned in my busy […]
When starting an initiative that has never been done before, there is a high level of risk and uncertainty. Since there is no precedent, the approach needs to be highly iterative and adaptable as new information is discovered. This applies to the process of digitization since creating a digital asset is usually breaking new ground. […]
A process can be evaluated from an environmental perspective by measuring the amount of non-reusable resources required. A more environmentally friendly process uses fewer resources. To understand the relationship between digitization and its environmental impact, let’s look into the number of resources consumed by a process pre and post digitization. An example to consider is […]
There is no process with zero risk, only those with very little risk. When improving the security of a process, the goal is to minimize risk as much as possible. To do this, all potential risks are identified, prioritized, and then mitigated, reduced, or accepted. In a paper-based process, there are inherent risks including fraud […]
Creating a digital asset may seem foreign or technically challenging. Is it time-consuming to create, does it cost more, and is it safe from bad actors? If the current process works well enough, why change? That last point is the crux of the issue here. There are so many processes that remain paper based simply […]
Digitization is the process of creating a digital representation of something of value, resulting in what is called a “digital asset”. So, what is a digital asset? Let’s break that down. First, the asset part. According to the Merriam–Webster dictionary, one definition of an asset is “an item of value owned”. Value can be monetary and/or give […]
