Insurance telematics provider Scope Technology has launched a new claims management platform aimed at helping insurers tackle the problem of fraudulent whiplash claims.

False neck injury claims are estimated to costs motorists £2.5 billion per year in the United Kingdom alone.

Some insurers estimate that around 50% of fraudulent claims are part of organised crime, and can add around £50 on to every policy holder’s premium.

Scope Technology has developed a telematics offering for the global insurance industry. This encompasses hardware and software, which can monitor vehicle safety, and analyse relevant data in the event of a crash.

By using its patented crash-related algorithms, Scope is able to determine the vehicle impact zone, angle and severity of each impact. By mapping this against a huge bank of crash data, research on physical injury and neural network models, The company says it can gauge the likelihood of physical injuries.

This technology can improve the efficiency and accuracy of the claims handling process for the insurer.

This, in turn, will help insurers combat fraud and fast track the claims adjudication process, resulting in lower insurance premiums for other policy holders.

In addition, the system, which transmits vehicle information and accident analysis to a central platform in real-time, will enable faster medical attention for drivers in cases of genuine injury.

Monty Nussbaum, chief executive of Scope Technology, said: "There is a considerable gap in the current market, and the process around claims support is an area in which usage bacarriers across the globe are not effectively served.

"These features will strengthen our existing offering, and ensure our customers have access to the most advanced claims support technology on the market.

"The improved platform should also save money for both insurers, and ultimately, their customers."

The improved platform is targeted at usage-based insurance carriers (UBIs). UBI is a new initiative in the insurance industry whereby the insurance carrier utilises driving behaviour and vehicle usage patterns to determine the insured’s risk and associated premium.

This differs greatly from traditional motor insurance, which is based on driver experience and previous safety record.

 

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