Abstract: The present invention relates to a method for generating an estimated value of a car, comprising the steps of receiving a user query specifying at least the type of a car; providing a database which comprises datasets having a car specification dataset specifying at least the type of the car and a car value field assigned to the respective car specification dataset representing the reference value of the car specified in the car specification dataset; searching in the database to find one or more datasets matching the user query; and calculating the estimated value of the car using the car value fields of the found datasets.

Abstract: Disclosed is a system and method for processing an insurance claim by an insurance company for an insured's damaged vehicle The method includes acquiring information regarding the damaged vehicle, and the geographical location of the damaged vehicle. An auction is conducted based on the acquired information regarding the damaged vehicle to sell, for a satisfactory bid, the damaged vehicle from the insured to a bidder, wherein the insured is the owner of the damaged vehicle. A bidder, who submits the satisfactory bid, is informed of the location of the damaged vehicle, where he directly picks up the vehicle. The title of the vehicle is transferred directly from the insured to the bidder or from the insured to the insurance to the bidder during or after the auction.