Reducing Loss Ratios with Telematics

The use of telematics can significantly improve loss ratios in motor insurance, particularly for young driver policies. At Quartix, we have been providing telematics services for insurance companies since 2010, and have invested heavily in providing the technology, data and services required for insurers to gain maximum benefit. To date we have installed more than 250,000 “black box” tracking systems in the UK alone.

Reducing losses on young driver insurance policies is not just about monitoring speeding and acceleration. It’s as much about service and management as it is about the telematics technology. Some of the important aspects of the service we provide for insurers are:

Risk reduction

  • Installation
  • Driving style
  • Safe speed on all roads
  • Driver feedback
  • Data analysis and profiling

Fraud prevention

  • Driver validation
  • Vehicle inspection
  • Tamper detection
  • Management information
  • Mileage management

Claims management

  • Crash detection
  • Crash review
  • Theft recovery
 

Fast Installation is Crucial

We work to a standard installation timescale of three to four days from policy inception. Our insurance centre in Newtown, Mid-Wales is prepared for this and we have invested in the systems to make it happen. The sooner the telematics system is installed, the sooner the young driver’s driving style starts to improve and their risk of accident reduces. In many cases, this will be the first car that the driver has owned, as well as their first insurance policy, so it is of paramount importance that any period without telematics monitoring is kept to a minimum.


Key components of the installation service we provide:

 
1 Branded customer service centre
 
Our insurance team answers client calls on your behalf in your name to ensure the installation is carried out in the most efficient way possible. Currently we handle this for 10 different insurance companies.
 
2 Electronic data exchange
 
At the point you sell a policy, regardless of whether it is online or through a member of your sales team, full details can be transferred electronically to our database, enabling our staff to take over from there. Our systems record full driver and vehicle details, together with installation location, date, and time (am/pm). The same approach applies to mid-term amendments (MTA) or changes of vehicle(COV).
 
3 Client notification
 

Automated email and text alerts make sure your customer is kept informed and that the installation is completed successfully, as quickly as possible
Our systems keep your client updated with email and text confirmations of the installation appointment. By regular communication with your clients we keep “no shows” to an absolute minimum, and ensure that you are using our telematics technology to control driver risks as soon as possible.
 
4 We installed more than 70,000 tracking systems in the UK in 2015
 
Our network is second-to-none. Currently we install more than 7,000 of our tracking systems per month in the UK alone. Our installers hold our units in stock, and all instructions to them and installation data sent by them is transferred electronically for optimum efficiency.
 
5 Document, driver and vehicle validation
 
We agree on service requirements with you, and our installers ensure that we carry out all of the required checks at the time of installation. This is a vital part of eliminating fraud and avoiding undue risk (in unauthorised vehicle modifications, for example) and losses from pre-existing damage (windscreen and bodywork, for example). For more information on this service, go to the fraud prevention section.
 
6 Reporting progress to you, the insurer
 
SLAs and agreed service requirements are translated into a series of dedicated reports which we make available for you through a secure internet portal. We also monitor closely our progress in carrying out and completing installations and report back to you accordingly.
 
 
 
 
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