Over the past few years, Insurance Companies in Ghana have been faced with settling a lot of motor claims on total loss basis. Though this may be attributable to several factors such as increased accidents on our roads, high cost of vehicle repairs, high cost of spare parts, etc… nevertheless the insurance companies are then faced with the challenge of disposing of the vehicle for the best price possible. The present process of using closed bidding auctions to help in recoveries results in low selling prices of salvaged vehicles. An alternative solution based on transparency, cutting edge technology and an increased average selling price of salvaged vehicles is therefore needed and is now available. Ezzybid Limited has developed a turnkey solution to help insurance companies increase the recoveries on some of these vehicles that are written off. Ezzybid.com is easy to use and user friendly. All a potential bidder has to do is sign up and start bidding for your dream car. The versatility of the site is shown in some of its innovative features such as;

• Proxy Bidding Feature. Users who use the website will be able to use this modern technology to make the bidding process easier and more efficient. Simply enter your bid representing the maximum price you are willing to pay for the vehicle and Proxy Bidding will bid on your behalf up to your maximum bid. Proxy bidding will only bid one increment over the current bid to maintain your position as the highest bidder. This allows you the possibility of purchasing a vehicle below your maximum bid. If a bidder with a higher maximum bid outbids you during bidding, you will be notified via email and SMS message.
• SMS Notification. Users who use the website will receive SMS notification in addition to an email when they win a bid on the website and also when they are outbid during the proxy bidding feature.
• Not only does the site provide information as to the general condition of the car and specific issues it may have, users have the opportunity to view eight different pictures of the vehicle they intend bidding on to be able to make an informed decision. Ezzybid.com as a site comes with several advantages both for car buyers all over the world but insurance companies based in Ghana. A few of these advantages are;
• No time constraints. Bids can be placed at any time (24/7). Items are listed for a number of days, giving purchasers time to search, decide, and bid. This convenience increases the number of bidders on a vehicle at any particular time.
• No geographical constraints. Bidders can participate from anywhere that has internet access. This makes them more accessible and reduces the cost of "attending" an auction. And with the bidding happening 24/7, this means theoretically buyers on the other side of the world in different time zones can also bid at their leisure thereby increasing potential sale prices of vehicles and maximizing recoveries for the insurance companies involved.
• Large number of bidders. Because of the potential for a relatively low price, the ease of access, and the social benefits of the auction process, there are large numbers of bidders for each item.
• With technology any form of human intervention is eliminated.
• The insurer is able to get the best value on their salvages.
• The insurance industry as a whole will be provided with a method for tracking salvage cars since all written off vehicles will be uploaded onto one platform and can be easily monitored
• Ezzybid will prevent insurance fraud and double insurance.

Ezzybid.com is a Ghanaian online venue or market place connecting buyers and sellers together to trade through an online platform. Ezzybid is not an Auctioneer. We are commonly referred to as an online auction web site, but it is important to understand that we are not a traditional "auctioneer." WE DO NOT OPERATE LIKE EBAY or similar online auction web sites. We are merely a venue that allows people to make bid offers, on currently running automobile Insurance auctions. We have a comprehensive list of vehicles that are salvaged or repossessed by banks and insurance companies. Most of the salvage vehicles we list on our site can be repaired and put back on the road or sold for parts. Ezzybid.com is owned by Ezzybid Ltd. For all enquires or further info please send the Ezzybid Team an e-mail to info@ezzybid.com or Mr. Edward Asafu-Adjaye at eadjaye@ezzybid.com