Telematics can help slash claims costs quickly: Wunelli

The easiest way to drive down motor claims costs is to improve claims management, according to Wunelli chairman Sandy Dunn.

Commenting on the OFT report into credit hire and vehicle repair, Dunn said: “Telematics provides insurers with instant notification of an incident with the vehicle. This enables the insurer to contact the customer immediately and manage the claim, thus thwarting any attempts by third parties to ‘cash in.’”

Dunn added that information recorded by the telematics boxes also let insurers close claims quickly and reduce the costs involved.

He said: “Telematics insurance has a lot of up front benefits in reducing fraud and incidents, but when an accident does occur, the box can really come into its own, giving valuable support to insurers who are genuinely trying to drive down the third party costs.”