Solutions to Current Critical Claims Cost Issues
Using smartphones to automate crash response and accident scene management is not only smart, it may be necessary to enable a more holistic and efficient crash solution for carriers. TU-Automotive recently caught up with Jeff Blecher, Chief Strategy Officer at Agero, to learn how the firm is addressing the issue with innovative solutions.
Q: Are there opportunities for insurance carriers to reduce their claims costs?
"With claims severity on the rise, the need to streamline processes is more critical than ever. Automated accident scene management – which can result in a significantly higher proportion of primary tows - has the potential to unlock up to $3B of claims savings. Auto insurers are wasting billions of dollars every year by not taking advantage of recent innovations that could dramatically improve the accident scene management process."
Q: Can you talk about different approaches that can be taken to increase FNOL and primary tows from the scene of the accident?
"Mobile crash detection is the key to realizing the full potential of primary tows, which should be seen as a key weapon in the fight against rising claim severity. Currently, this is a highly underutilized tool, since it requires a FNOL from the accident scene – typically, few policyholders call their insurer from the accident scene. The benefits for the insurer are clear and include increased visibility into the accident scene, which helps reduce claims cycle time and severity. It also provides a new touchpoint for the policyholder in their moment of need – an emergency response service – which can improve retention. At the same time, the enhanced appeal of a single, master insurer app enables and promotes the use of family safety services such as teen monitoring. One of the most important results is additional opportunities to capture non-drivables and save $500 to $800 per event. Capturing more vehicles at the scene through Agero Accident Scene Management allows savings on storage, secondary tows, and rentals days. It can also improve DRP utilization and cycle time."
Q: What technology and/or tools are now available to enable automated accident scene management?
"It’s clear that Accident Scene Management (ASM) and Automated Crash Notification (ACN) can generate large-scale savings for insurers. In particular, mobile crash detection enables important innovations in the claims experience while providing a lifesaving service to policyholders."
"Agero’s mobile crash detection and notification solution is an example of such highly effective technology. Driver360 is an AI-powered mobile telematics platform providing holistic crash detection and emergency and claims processing response – as well as dangerous driving behavior analysis and coaching. Because it’s deployed through a smartphone, it requires no extra hardware. Consumers simply interact with Driver360 through their insurance carrier or automotive manufacturer’s branded mobile app. This allows them to easily and comprehensively manage their individual and family driving safety through coaching, parental views, speed and boundary alerts, location sharing and other practical features."
"The platform is supported and enhanced by Agero’s Accident Scene Management protocols, which can deploy service providers quickly to collect on-scene information – including photos – and enable primary tows. It’s also designed to streamline the vehicle storage and repair cycle, saving claims costs for insurers and customers."
Q: In what ways can the customer experience be differentiated with heightened crash detection technology, in their time of need?
"At the moment, 4% of drivers in a severe accident require emergency medical services (EMS). Yet many face challenges getting that help. Automatic crash detection and emergency response capabilities provide an important touchpoint in the policyholder’s lifecycle, allowing the insurer to be the hero at the accident scene. The value of this touchpoint is further enhanced by Driver360’s ability to accelerate claim intake with key data, including driver/vehicle info, crash time, GPS location, and speed."
"Creating a better, and more seamless, customer experience centered on peace of mind and a faster cycle time is a meaningful way to build customer loyalty and retention."