In the ever-evolving landscape of motor insurance, companies must constantly adapt to achieve operational and customer service excellence. The motor claims process has long been a point of contention for insurers and policyholders. From time-consuming settlement processes to the high cost of expert assessments, the claims process has often been unsatisfactory for all parties involved. While policyholders sometimes struggle with the administrative burden and back-and-forth between themselves, insurers and repair shops, inconsistent information about a claim increases the risk of fraud.

Lack of knowledge about the condition of the vehicle prior to the claim adds another layer of complexity. These challenges strain resources and affect the quality of service provided to customers. In the long run, claims issues often contribute to the termination of a contract, rather than strengthening the customer relationship. Since you receive different types of motor-related claims, establishing an efficient and objective claims process and treating similar claims in a similar way is paramount. In addition, it is often necessary for an external expert to provide a cost estimate.

Imagine you:
• Could get details about the accident within seconds after it happened. Imagine having information about the condition of the car right before and after the accident.
• Could manage the claims process from FNOL to settlement, adding value to your customer by offering services such as a replacement car.
• Would be able to turn a negative event into a positive client experience with little effort.

What does the ideal solution look like?

With telematics data, you get real-time collision insights. Those include details on damages, expected claims costs, information on the status of the vehicle before the crash and a total loss indicator, enabling you to make quick decisions based on accurate data.

Besides an automated description of the claim, information about the location and any injured persons is given. In addition, using the telematics data, it is possible to reconstruct the route and the context of the trip.

The information processed from the telematics data is used to make a settlement recommendation to the insurer. Within minutes of an accident, you can inform the policyholder of the next steps.

In the case of minor or standard claims, a cash-on-hand payment can be initiated. If it was a leased vehicle, the leasing company can be informed about the loss and a replacement car can be ordered. A towing service can be sent to the accident site to pick up the damaged car, and you can request a select partner repair shop to get the car repaired.
If the course of the accident is unclear, the accident description of the driver is questionable, or fraud is suspected, digital evidence from the vehicle’s Event Data Recorder can be retrieved to reconstruct the accident (check out our last blog post about our msg.EDR solution for accident reconstruction).

What are the benefits of such a digital claims handling process to you?

Real-time collision insights

Real-time data gives you comprehensive insights into an accident. It gives you detailed information and a recommendation for the next best actions, enabling timely, accurate decision and optimizing operations and customer service.

Objective damage assessments

Data-driven processes reduce human involvement in damage assessments and make decisions to repair, replace, or settle more objective, ensuring the costs for the same damages to identical vehicles are uniform. The fully digital process speeds up triage, significantly reducing the time from claim initiation to resolution.

Next-level customer service

Customer service can be raised to a new level by acting proactively and with foresight. By using telematics data in the claims process, you take the work off the customer’s hands. Since you’re able to provide assistance at the accident site, policyholder involvement throughout the settlement process is minimized. This creates a new customer experience which turns a negative event into a positive experience and helps you build customer loyalty.

msg.CIS – a comprehensive, data-driven solution

msg.CIS (ClaimsInsightsServices) is a solution of the msg.IoTA Mobility Suite. It helps you overcome the hurdles of the claims process, increase efficiency, and provides unmatched services to customers.

The telematics data is generated by a bluetooth beacon or vehicle sensors in combination with and a smartphone app in the car. Within seconds, it is transferred to the cloud-based msg.CIS platform for analysis.

As an intelligence plug-in, msg.CIS can be used standalone or with a light-weight integration into any core insurance system. As part of the msg.IoTA Mobility Suite, it can be easily combined with other solutions such as msg.AMI (AugmentedMobilityIndex) for measuring driving behavior or msg.EDR (Event Data Retrieval) for retrieving data from Event Data Recorders for accident reconstruction.

As a cloud platform, msg.IoTA provides high scalability which, in combination with the pay-per-use pricing scheme, makes is accessible to organisations large and small. With msg.CIS, you are well-equipped to meet the demands of the modern world, offering services that are efficient, transparent, and reliable.

If you want to learn more about our msg.CIS solution, just reach out.

Read more about msg.IoTA below:

Data-Centric AI: A Milestone in Achieving Fairness in Insurance
Event Data Recorders (EDR)
On the Anatomy and Half-life of Telematics Data