QUICKLY REACH AGREEMENT WITH VIDEO EVIDENCE
Video telematics provides undisputable footage from the scene of a collision, backed-up by supporting data such as impact speed, so insurers and MGAs can speed up liability decisions and keep mitigation costs to a minimum. Split and disputed liability can be quickly resolved, resulting in a dramatic reduction in administrative and legal costs. In fact, claims leakage reduces significantly using video telematics, if not disappearing completely.
PROTECT AGAINST BOGUS CLAIMS AND ORGANISED SCAMS
Motor insurance scams are the most common and expensive insurance fraud, with 55,000 dishonest claims worth £629m detected in 2018 (abi.org.uk). Personal injury fraud makes up 80% of false or exaggerated claims – including staged crash for cash, fake whiplash claims and other opportunistic scams – so remains a massive challenge for the insurance sector. It is virtually impossible to prove whether a driver was the victim of a bogus claim without the evidence provided by video telematics and connected vehicle cameras.
UTILISE TECHNOLOGY TO REDUCE COSTS
Video telematics is proven to reduce claims frequency and claims cost, with one insurer seeing a drop of 24% and 34% respectively. With the ability to mitigate fleet risk, protect against avoidable insurance costs and make significant claims savings, there is a clear opportunity for insurers and MGAs to incentivise fleet policyholders to adopt connected camera technology that offers reduced premiums or excess.
VisionTrack’s systems and products are compliant with Fleet Operator Recognition Scheme (FORS), Direct Vision Standards (DVS), Construction Logistics and Community Safety (CLOCS) and Work Related Road Risk (WRRR), as well as having wide insurance industry approvals. Our industry-leading forward-facing camera, multi-camera and mobile DVR technology also carry FCC, CE, E-mark certifications.