Estimatics

{
  "id": "MLC-T-INS-001351",
  "term": "Estimatics",
  "field": "Insurance and risk management",
  "definition": "The process of calculating the probable cost of repairing damaged property, particularly in auto or property insurance claims. This involves assessing the extent of damage, identifying necessary parts and labor, and determining the fair market value for repairs. Software tools and industry standards, such as those from Audatex or CCC Information Services, are frequently used in this process.",
  "url": "https://mlchart.com/terminology/insurance/estimatics/"
}