Case Study: Motor Claims Management

M D Garde; Gautam Prasad

M D Garde
Gautam Prasad

Keywords: Anti-fraud technologies, salvage disposal, motor portfolio profitability, Audatex solutions, AutoOnline solutions, Solera group

Abstract

There are two elements in Motor claims – own damage and third party. This paper relates to OD portion and gives an approach through a case study how to increase profitability through practical and high-tech solutions.

The main steps suggested are:

Strict underwriting
Fraud prevention and control
Various claim minimization methods
Training of surveyors
Accurate assessment of Motor OD claims
Professional and un-biased approach to salvage disposal

The above steps will lead to win-win situation for insurance companies and customers. It will also ensure higher profitability in motor portfolio. These solutions reduce and eliminate chances of unethical practices in motor claims and salvage matters.

As a case study, we have presented two solutions – Audatex and AutoOnline. Globally, it is now being accepted in over 80 countries and operations span for the past 60 years.

In India, half a dozen insurance companies are currently using the two solutions mentioned.