Data Pipeline Integration & Automotive Insurance

By Joseph Artgole - July 28, 2020

Learn more about how MGA Antilo deliver connected products based on real-time data. 

Changes in customer perception and legislation have greatly lowered barriers to entry around the adoption of telematics-led policies. Previously perceived to be an invasive initiative, Customers now see the value of telematics, particularly video. This is a direct result of fraudulent claims, with camera-based telematics providing concrete evidence around who is at fault. Legislation ensuring the use of video telematics within commercial taxi’s is also in effect. This is due to the benefit of providing protection for both licensed drivers and their passengers in the case of an incident.

With a changing marketplace and lower barriers to entry, Antilo’s new approach is well positioned. The MGA can better price and cater for areas previously deemed too high-risk due to the protection offered by new digital tools. Risk that was historically difficult to identify is now clear, allowing the industry to uncover emerging risks whilst implementing proactive risk management initiatives to help control their influence.

Antilo’s approach to technological change delivers on the original concept around the use of telematics. The firm has paired new capabilities with historical insurance expertise to create connected products based on real-time data. Sharing risk data with integrated Partners allows for shared insight and the operation of automated workflows to improve efficiency. The pipeline created ensures all barriers to entry between organisations are mitigated, allowing for faster claims handling and a better understanding of individual risk profiles.

“We’ve invested in technologies that derive detailed insight from telematics data and digitally integrate with our supply chain. We now have a shared view of the market with our Partners. It allows us to deliver smarter products, assess risk more accurately and improve the customer experience.” – Viv Gilroy, Managing Director, Antilo

Data Collection

Data is received in real-time from an on-board telematics device. SureCam provide an all-in-one video telematics device that ensures the receipt of high-quality telematics data. Data received determines the communications Antilo prompt the Broker to provide the Insured and proactively manage risk. This can include the mitigation of activity outside of operating terms, or the update of a policy to meet the needs of the Insured.

“SureCam is designed to provide real-time visibility into fleet video data and was originally created for the insurance sector to enable improved First Notification of Loss. We communicate data directly to our secure servers and make that data available for Partner integrations through a REST API.  The communication protocol between SureCam’s servers and individual dash cameras ensures that all data is properly uploaded and accounted for, including individual video frames, GPS data, g-force data, and any other data points that support incidents.” – Justin White, Managing Director at SureCam

Risk Mitigation

For Brokers to manage the situation, data is received directly from Antilo. The data determines the type of automated risk management SMS notification that is sent to the Insured. Messages are personalised depending on the type of Customer, geographical region and whether they have previously received a message. This benefits the Broker as it changes the structure of the customer relationship from a single negotiation to an ongoing conversation. This reduces the customers risk profile and improves retention rates for the Broker.

“Policies can frequently become uncompetitive due to a broad approach to customer profiling. Better utilisation of embedded technologies, such as telematics, enables specialist underwriters to offer competitive premiums. Risk can be profiled more accurately, allowing for terms to be based on policy holder behaviour. This provides more opportunity for Brokers, as we can cater for new niche segments. Such products drive retention as Brokers become the primary vector for client communication. Our relationships therefore last throughout the life of the policy, improving retention and long-term business.” – Dave MacKenzie, Director at Connect Insurance Brokers Ltd

Claims Handling

If a collision occurs, the device automatically sends associated data, including video footage, to the digital platform. An automated workflow sends the collision data directly to Gallagher Bassett, Antilo’s Third-Party Administrator (TPA). Ensuring the TPA can deal with the collision promptly and determine fault helps to keep costs down. If the collision is deemed to be the fault of a third party, Antilo can respond with evidence and reassure the Insured.

“Automation will lead to vast improvements in the speed of reporting. Details around the incident will be received as soon as it happens. False negatives will be omitted over time due to the self-learning nature of the algorithm within the platform. This means that the accuracy, speed and relevance of information received all increase, allowing us to be more efficient in reducing costs.” – Charlotte Harrison, Senior Business Development Manager at Gallagher Bassett

Capacity

Improving claim frequency and loss mitigation improves the chances of receiving better terms from capacity provider, Calpe. Leveraging data, they can become even more competitive in the market and diversify further.

“Antilo and Calpe are quite closely aligned due to the nature of our business. From an investment perspective, this is really a forward-thinking approach. It allows Antilo to adapt to what is a rapidly developing marketplace and ensure we remain at the forefront of those changes. Antilo are more competitive in the short-term due to operational efficiencies around claims turnover. In the long-term, we will have access to insights which will have been proven over time. This will expose trends that enables us to accurately match price to risk. Having a bank of primary data ahead of others in the industry means we can apply our understanding a lot faster to expand our footprint.” – Doug Murray, Board Director at Calpe Insurance Company Ltd

For an in-depth look at Antilo’s innovative deployment, download the white paper below.

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