As reported by Insurance & Technology on December 23, 2014, mobile devices look to make a splash in the auto insurance industry in 2015. The days of tediously putting together a claim are over. Mobile devices – whether it’s laptops, smartphones or tablets – are taking the auto insurance industry by storm. Here are three trends to watch for in the coming year:
Improving Efficiency
As the saying goes, time is money. Efficiency is about doing something in the best way possible with the least waste of time and effort. Although there will be an upfront cost for insurance companies to equip their workforce with mobile devices, the payoff could be huge. Insurance agents and adjusters will be able to do their job more efficiently in the field.
Not only will agents and adjustors be more productive, but they’ll also be able to provide everyday clients like you and me with a more personalized touch. Mobile devices will help reduce frustrating processing delays and join forces with industry players. Smartphones and tablets won’t just help agents in the office – they’ll be able to evaluate claims and consult with clients while they’re on the go.
Consumer Focus
It’s no fun to file an insurance claim. Not only is there mounds of paperwork to fill out, but there’s also the waiting game. There’s nothing more frustrating than waiting endlessly for a cheque to arrive in the mail. To help put an end to client frustration, insurance companies are putting more control in the hands of their clients. Clients will be able to take a more proactive role in filing a claim to help speed up the process.
You don’t need to wait until you arrive home to file a claim. Technology lets us file a claim directly from the scene of an accident. All you need is to download a free phone app. Many of these apps let you upload photos and avoid waiting for a cheque in the mail by getting paid by e-transfer. Consumers will be able to speed up claims and insurance companies will be able to improve efficiency and save on costs – everyone comes out a winner!
Telematics
While telematics may be in its infancy, it looks to make a big splash in 2015 and the years to come. As our cars become more connected, we’ll see telematics play a bigger role in our everyday life. Drivers will have to balance their desire for cost savings against their right to privacy.
Although we’re far behind the flying cars envisioned in 2015 by the movie Back to the Future Part III, fully autonomous cars will soon be a reality. Technology like installed sensors, telematics and usage-based technology looks to play a big part in helping insurance companies explore these unchartered territories.
