Concept: British claims management company WNS Assistance has partnered with insurtech startup and motor managing general agent (MGA) By Miles to manage its connected car insurance policy claims by leveraging real-time vehicle data. WNS Assistance as part of the partnership will be offering 24×7 claims management solutions for By Miles’ pay-by-mile policies.
Nature of Disruption: WNS car insurance is offered for drivers of connected cars who cover under 7,000 miles (11,265km) a year. It calculates monthly premiums using a mobile app and actual mileage data directly from the vehicle’s mileometer. The claims solution gives priority to driver safety and vehicle security and links customers with a 24/7 First Notice of Loss (FNOL) team and dedicated claims managers. Thus, enabling contact with users and alert emergency services when required. The solution based on the scenario initiates several immediate solutions such as the arrangement of rapid response services to severe accidents. Connected car insurance can decrease indemnification costs, accelerate claims lodgements, and reduce fraudulent and exaggerated claims.
Outlook: The increasing adoption of telematics and connected cars are expected to drive the usage-based insurance market. WNS takes part in this evolution to help clients disrupt the competitive landscape and offer a better customer experience. The partnership with By Miles is claimed to be the world’s first connected car insurance to provide effortless and user-friendly service for customers. It can provide immediate services to users based on their situation, addressing the customer’s need quickly and securely.
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