Connected claims management could reduce auto insurance premiums

Services and software products from claims management companies could be key to lowering the cost of auto insurance premiums for car owners.

Services and software products from claims management companies could be key to lowering the cost of auto insurance premiums for car owners. One claims management company is providing data integration to improve efficiency and reduce insurance agent costs.

The company CEO is giving a talk on the subject of integrating real-time crash data from vehicles with on-board computers connecting into the claims management system. The discussion takes place today at the 2009 Auto Insurance Report National Conference in Naples, Florida.

Auto insurers often don't receive first notice of loss from a claimant until 30 days after the incident, which means slower and inefficient responses to managing post-accident expenses such as towing and vehicle storage that can add cost to premium rates to policyholders.

The company that provides this integration capability said it will create the next generation of claims optimization for both insurers and insured motorists. Insurance agents, auto insurers and their customers could see considerable savings through reduced costs effected by implementing this system, the company said.

Other companies at the conference have on display for insurers innovative products and services such as data protection products and system interfaces with drivers, public safety and automobile manufacturers.

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Posted: April 28, 2009

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