Delivers 10-Point Operating Ratio Improvement, Helps Mitigate Risk & Boost Bottom Line
[9 May 2018] Collision Management Systems (CMS) is launching a new data aggregation solution for commercial and personal motor insurers that allows them to access data from multiple retrofit or embedded third party telematics systems in order to reduce claims frequency and severity.
Proven to deliver up to a 10-point combined operating ratio improvement, it enables insurance carriers to access telematics data to make better decisions, enhance services and improve bottom line.
Unlike other solutions on the market, CMS is technology-agnostic and can aggregate and standardise data from multiple telematics systems, delivering comparable and consistent information instantly via easy-to-use dashboards or raw data feeds. This provides underwriters with the real-time, accurate intelligence data they need to manage risk, build commercial pricing models and more profitable services.
At the same time, CMS’s market leading crash filtering software is automatically applied to all data streams, minimising false alerts and data noise and providing insurers’ claims functions with a reliable, real time crash alert capability.
Charles Smith CEO of CMS explains, “Commercial insurance customers have a wide range of third party telematics solutions installed. Meanwhile personal lines insurers increasingly have to deal with large amounts of data from a range of connected cars. Up until now there has been no simple solution to help them cope with the scale and diversity of devices, data formats and information streams. With our software, they can now instantly collect and analyse data, from any source using a single platform and with minimal effort.
“It also makes it easier to handle big data and boosts efficiency by reducing data-noise. Importantly, it allows insurers to futureproof their business by accommodating new devices as they become available. With CMS, they don’t have to opt-in to one technology, they can keep their options open, and reap the benefit of new connected vehicle innovations as they arise.”
Supplied as a Software as a Service (SaaS), the CMS solution can be integrated and deployed in weeks. All data is secure and compliant, is processed and hosted in country of origin and in conformance with GDPR.
CMS software is already proven in field with leading international insurance organisations. Its filtering software is also extensively licenced as a white-label solution by multiple global telematics companies to provide high-performance, resource-light crash detection for their fleet customers, including some of the UK’s largest household brands.