Next gen telematics hub to improve auto FNOL
A new technology center focused on delivering telematics to boost the first notification of loss (FNOL) process and risk management in auto insurance has been created in the northeast of the UK, reports Paul Myles.
This is becoming an increasing important part of today’s insurance claim process because sophisticated telematics can be used to take the guess work out of what has happened in any specific accident of personal loss. Geo location, time of incident, speed of vehicle, acceleration, deceleration and driver reaction times can all be applied to determine probable fault and speed up the claims process saving insurers’ costs.
The insurance technology specialist, ThingCo, hopes to develop the next generation of telematics with the opening of its state technology center in Newcastle-Upon-Tyne. Its next generation telematics device will employ ADAS, intelligent voice and AI to help improve driver safety and give motorists greater control over their driving data, their insurance cover and claims process. The device will launch to the consumer market in November 2018.
Jonathan Valentine, CTO of ThingCo said: “The ThingCo Technology Center is essentially the nerve center of our business, providing the hub for all the services we will deliver powered by the data from our next generation telematics device. In particular, our smart FNOL process will operate from here, leveraging real-time driving data to support our customers through interactions via their app, by phone and text-based chatbots.”
