Over 50% Savings Achieved on Insurance Claims using Connected Cameras
Connected dash cams are having a dramatic impact on the cost and life cycle of insurance claims. Fleet dash cams could save the commercial fleet sector many millions of pounds each year.
In a recent study, Plexus law analysed 4,500 vehicles fitted with SureCam connected dash cams. The results showed that the average claims cost was reduced by over 50%.
Tim Roberts, Commercial Director at Plexus Law commented, “We are seeing advances in technology dramatically change the landscape of motor claims handling. At Plexus Law, we are working with our clients and strategic partners like SureCam and Sopp+Sopp to harness these technological advances and reduce our client’s indemnity spend. The results from this project clearly demonstrate how both leading motor insurers and self-insured corporate fleets can significantly reduce their claims spend.”
Access to video evidence and supporting data direct from the scene of a collision helped this SureCam client make faster and more accurate liability decisions.
This proves it is possible to take better control of the claim’s management process using connected vehicle cameras. Two of the largest areas of improvement were with hit third party pedestrians (81% average cost saving) and hit third party cyclists at (65% average cost saving).
“The clear message to commercial fleet operators is that connected vehicle cameras are proven to make insurance claims cheaper and quicker to resolve”, said Sam Footer, Strategic Partnership Director at SureCam.
“Immediate access to the video makes it possible to quickly understand who was responsible for an incident. This helps fleets to avoid costly split liability and exaggerated and fraudulent claims. If the driver is at fault, the claim can be processed rapidly, keeping third-party costs to a minimum.”
SureCam and Plexus Law offer a proactive claims management service for large, self-insured, corporate fleets. The technology-led solution, using the SureCam connected camera, is designed to take advantage of First Notification of Loss (FNOL), to provide a quality claims experience with an early and cost-effective settlement. As a result, vehicle operators can now achieve high levels of brand protection while reducing the financial impact of motor insurance claims.
Contact SureCam to find out how connected dash cams can help your business.