Insurance, Mobility, People, Supplier, Technology and Words
AI video telematics specialist VisionTrack has launched a new solution that it believes can transform commercial fleet safety while reducing insurance costs.
NARA (Notification, Analysis and Risk Assessment) uses computer vision models with sensor fusion to assess footage of driving events, near misses and collisions.
These are then reviewed automatically, providing fleet managers with accurate analysis to better protect road users and help prevent collisions.
VisionTrack, which is part of Markerstudy Group, also believes the solution can reduce insurance costs by an average of £2,000 per claim detected.
Richard Kent, President of Global Sales at VisionTrack, said, “Our cloud-based NARA software is a true game-changer in the world of video telematics as it will help save time, costs and most importantly lives, by providing proactive risk intervention and accurate incident validation.
“NARA proactively removes false positives and monitors driver behaviour, without the need for human involvement. With traditional video telematics solutions, commercial fleets can be experiencing hundreds of triggered daily events, so this will enable them to deliver more efficient working, whilst not compromising on road safety.”
Bodyshop, Environment, People, Supplier, Technology, Training, Vehicle Repair and Words
Automotive charity AutoRaise is celebrating National Apprenticeship Week 2023 by attending a number of careers events to help showcase the sector to the next generation.
AutoRaise has been set up to address the skills gap by promoting the industry to new talent and then pairing apprentices with repairers.
As part of this, it will attend events at Emtec Automotive College and Retford Education Centre this week, while also sharing videos, testimonials, and insights from partners, affiliated repairers, and apprentices.
Vice Chair Steve Thompson said, “We are confident that the work we have done over the past few years has benefited repairers, young people, insurers, employers, training organisations, and other industry stakeholders. As we continue to get support from the industry, our position will become increasingly crucial over time. During this significant week, we are delighted to highlight the accomplishments and successes of apprentices who are currently employed in the sector.”
Environment, Finance, Insurance, Mobility, People, Supplier and Words
The ABI has revealed that average motor insurance premiums rose by eight per cent in the fourth quarter of 2022.
Its latest Motor Insurance Premium Tracker found that average premiums increased to £470, which is seven per cent higher than they were in the same period of 2021.
The ABI has attributed insurance inflation to greater cost pressures among ABI members, which include a £71.75 rise in repairs due to energy inflation, a 16% increase in paint and material costs, and parts delays which are affecting 40% of all jobs. Further, courtesy car costs have grown by 30% and the average price of second-hand cars has swelled by 19%.
Jonathan Fong, Senior Policy Adviser, General Insurance, said, “Every motorist wants the best insurance deal, especially when coping with cost of living pressures, and insurers continue to do all they can to keep motor insurance as competitively priced as possible. Yet, like many other sectors, insurers continue to face higher costs, such as more expensive raw materials, which are becoming increasingly challenging to absorb.”
Bodyshop, Environment, People, Supplier, Technology, Training, Vehicle Repair and Words
Businesses and individuals have been invited to register their interest for the 2023 WorldSkills Competition cycle.
The skills competitions aim to promote and celebrate the incredible talent in the sector through a series of regional, national and international events. Challenges are set by industry experts across a number of disciplines to test knowledge, practical skills and employability.
To date, 97% of previous entrants say they improved their technical skills after taking part and 93% said they improved their personal and employability skills. Meanwhile, average earnings among those who took part are 60% higher than those of comparable peer group.
Audio, Bodyshop, Environment, People, Salvage, Supplier, Vehicle Repair and Words
Crash. Detect. Settle. Digitising the motor claims journey.
We all know how important it is to begin the claims process as soon as possible following a collision – doing so within 24 hours offers multiple benefits and savings. What if you could speed the process up even more? During this showcase webinar session, viewers gain an insight into Solera Mentor by eDriving.
Optimising the claims journey: A partner’s perspective
Optimising the claims journey means different things to different stakeholders. But as costs and customer expectations continue to rise, the need for effective claims management has never been greater. Here, we have canvassed the opinions of some of our partners for their take on efficiency gains within claims, and how their solutions are optimising the journey.
Its latest Motor Insurance Premium Tracker found that average premiums increased to £470, which is seven per cent higher than they were in the same period of 2021.
Its 2022 ESG Report – The Road Ahead, Reimagined – also reported that 450,000 of its vehicles are now connected, while 45% of the Enterprise Car Club fleet is now electric or hybrid. Furthermore, 41.4% of waste from its EMEA headquarters was used to generate renewable electricity for the National Grid.
NEARC operates three sites in Newcastle, Sunderland and Darlington and takes the combined Steer Group operation to 60 sites with 1,400 staff and the capability to repair 85,000 vehicles per annum.
According to the IMI’s Automotive Education Report, just 52% of automotive apprentices are supported by the Apprenticeship Levy scheme, compared to a national average of 65%.
Varun Laroyia, Chief Executive Officer of LKQ Europe, said, “This acquisition reinforces our ongoing commitment to offer affordable and sustainable mobility across our European markets.”
People
Dawn Marsden has taken on a new role as Head of Claims Supplier Management at Esure.
Tony Lover has been appointed Quality and Performance Manager at Nationwide Vehicle Assistance.
National Accident Repair Group has named Richard Ketley as Network Communication and Compliance Manager.
Michael van der Sande has returned to the automotive industry as Managing Director of Lucid Europe.
3M has appointed Michael Massey as Global Senior Application Engineer for AAD Paint Finishing Systems.
Robert Curley has started a new position as Head of Strategic Network Relationships UK & Ireland at Activate Group.
Deputy WorldSkills UK CEO Ben Blackledge will take over as interim CEO whenDr Neil Bentley-Gockmann OBE steps down after seven years at the helm.
ARC360 Podcast: Dean Lander
In this episode – recorded late in 2022 – we speak with Dean Lander, Head of Repair Sector Services at the insurers’ automotive research centre – Thatcham Research.
Bodyshop, Environment, Insurance, Mobility, People, Supplier, Technology, Vehicle Repair and Words
Optimising the claims journey means different things to different stakeholders. But as costs and customer expectations continue to rise, the need for effective claims management has never been greater. Here, we have canvassed the opinions of some of our partners for their take on efficiency gains within claims, and how their solutions are optimising the journey.
If you would like to take part in similar features through 2023, or contribute to our growing content output in another way, please email alan.feldberg@iloveclaims.com
Enterprise Holdings:
Customer service is becoming ever more important, especially as an exceptional claims experience has a direct impact on loyalty and renewal rates. Customers want to be kept completely updated and in the loop at all times. This means that every business involved in the claims process has to be connected and able to access the latest information on a claim.
Technology also enables a richer digital journey for the customer, where they can access more information more immediately, online or through an app.
Especially now, with the whole repair sector facing supply chain and talent challenges that are impacting speed of service and can lead to extended repair periods, a more connected industry is one that’s better placed to ensure customers are always supported as well as better-informed.
The other piece is increasing demand for mobility during those periods when a policyholder’s own vehicle is unavailable, and potentially for a longer period if repair times are delayed. Cars remain essential for many trips, especially with people working more flexibly, while commercial vehicles are the lifeblood of the economy.
This is becoming a conversation around how best to deliver mobility. For some drivers, this may continue to be a like-for-like replacement car for the entire length of the repair. Other people may only need a vehicle for a few hours or days, and we’re exploring how access to vehicles located close to where policyholders live and work, either at an on-street car club or at a rental branch, can offer a more effective and sustainable alternative.
Stuart Sandell, AVP of Replacement Sales UK & Ireland at Enterprise Rent-A-Car, said, “Optimising the claims process means repair bays shouldn’t be left vacant because there isn’t a courtesy car for a customer waiting for a repair. Many bodyshops are already exploring this wider range of mobility provision – either as an option to running a dedicated fleet of courtesy cars, or as a way of providing mobility when all their vehicles are out on loan but they still have capacity for repairs.”
Solera Audatex:
At Solera we understand that optimising the claims journey means connecting all players and partners in the claims ecosystem for a more efficient, customer-friendly and speedy claims process, while ultimately lowering costs and maximising revenue.
Solera Audatex has been a trusted partner in the automotive insurance industry for many decades. We provide a modular automotive insurance ecosystem that can be used by all players in the claims journey. It helps to provide consistency across a complex claims landscape from policy inception to claims resolution.
Our 100-plus long-standing established API connections to leading partner systems from fraud systems, recovery operators, repairers, parts suppliers, salvage companies and industry bodies make the claims workflow streamlined and seamless. Coupled with the extensive data integrated from the various Solera UK businesses, Audatex leads the way in creating a competitive advantage for our clients. This makes Audatex more than just a vehicle estimating partner but rather the ultimate partner to ensure a successful process across the whole claims journey, delivering value to every stakeholder en route.
Solera Audatex encourages faster adoption of claims digitalisation at FNOL, better claims triage, removes frictional costs on subrogation, and much more, bringing efficiencies at every stage.
Furthermore, the introduction of the suite of Qapter products into the UK workflow will accelerate the use of artificial intelligence in vehicle claims, drawing on over a decade of UK claims data. Valuations for new and used vehicles are comprehensively and intelligently updated via cap hpi, across our complete suite of solutions, meaning that every decision can be informed by accurate, timely data.
Neil Garrett, Solera Audatex UK Sales Director, said: “Optimising the claims journey for all requires a clear strategy which puts the customer at the centre. We are passionate about playing our part as a trusted partner to help connect and inform wherever our customers require additional support, better systems or added value.”
Put simply: Solera Audatex means a more efficient, more profitable operation, giving you a substantial financial and competitive advantage.
Entegral Holdings:
Entegral Holdings offers a suite of products that insurers and other collision industry professionals use to streamline the claim process across the UK.
It is an industry-leading source of innovation in the claims processing space with a goal to digitise the claims process.
Our platform is an open SaaS solution that simplifies auto claims interactions and decision-making by intelligently connecting service providers in one place and through APIs or user interfaces provides visibility to service provider statuses. It also provides secure, transparent data exchanges between service providers to reduce loss adjustment expense and provides customers with a menu of incremental service provider options (ie repair centers, rental, tow, salvage, etc.).
Today more than 60 insurers, vehicle manufacturers, and collision network sponsors in the US, Canada, UK, Ireland, and Puerto Rico use Entegral.
As vehicle manufacturers integrate more technology, insurers and collision repairers continue to rely on the Entegral open platform to harmonise the claims process.
Bodyshop, People, Supplier, Technology, Vehicle Repair and Words
Steer Automotive Group has continued its growth strategy with the acquisition of North East Accident Repair Centres.
NEARC operates three sites in Newcastle, Sunderland and Darlington and takes the combined Steer Group operation to 60 sites with 1,400 staff and the capability to repair 85,000 vehicles per annum.
Richard Steer, Chief Executive, said, “Acquiring the well-established and successful multi-site North East Accident Repair Centres further strengthens our market presence in the region and provides a strategic fit which complements our existing six-site Steer North East operation. I’m delighted to welcome the team from NEARC and look forward to working with them. I’d also like to personally thank [owners] Roger Collings and Bob Taylor for their decision to allow Steer to continue the journey they embarked on.”
Environment, Insurance, Mobility, Supplier and Words
Comprehensive car insurance prices rose for the fifth quarter in a row to reach an average price of £629.
According to the Confused.com Car Insurance Price Index, produced in association with WTW, premiums rose seven per cent in the last three months of 2022 to cap a 19% overall increase throughout the year.
Male drivers aged 71 and over saw the greatest percentage increase, although the 24% rise they felt only takes their average policy to £456. This is less than a third the price of the average policy for males aged 17-20, which has now risen to £1,764.
Tim Rourke, UK Head of P&C Pricing, Product, Claims and Underwriting at WTW, said, “The last 12 months have been characterised by persistently high inflation and insurers adjusting to the new FCA pricing rules while maintaining margins. With supply chain disruption, labour shortages, lack of raw materials and increasing food, fuel and energy prices set to continue, the upward pressure on premiums, primarily driven by claims inflation, is set to continue well into 2023.”
Louise O’Shea, CEO at Confused.com, added, “Following the FCA pricing changes 12 months ago, we expected prices to increase, but perhaps not quite at this rate. It’s clear that insurers should be doing more to help consumers during difficult times.”
Environment, Mobility, Supplier, Technology, vehicle sales and Words
Full electric vehicles made up more than a third of all models tested by Euro NCAP last year.
According to its annual Year in Numbers review, 22 of the 65 models tested were zero-emission EVs. Meanwhile, five out of its six Best in Class winners were also electric.
The trend came in a year when Euro NCAP carried out more safety tests than ever before. Throughout the 12 months it published 73 safety ratings, of which 67 were for new car models. Underlining a continued focus on safety from vehicle manufacturers, Euro NCAP awarded 50 cars a five-star rating, with 15 other models achieving four stars. For the first time in its history, no models received three stars or less.
The review also identified centre airbags as one of the most popular new safety features of the year, with 72% of new cars examined including it.
Michiel van Ratingen, Euro NCAP’s Secretary General, said, “For Euro NCAP, 2022 marked 25 years of making cars safer. Looking back on the progress we have made with our sponsors, test labs and partners, and how different safety looks for consumers today when we test cars – we are so proud of what we have accomplished.
“In 2023, we have huge developments ahead including a real step forward on the road to Vision Zero with new protocols in car testing that will consider the wider implications on vulnerable road users, but also consideration of a new target group that will be announced later in the year.”
