Insurance Telematics for Auto Claims

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Learn how telematics can improve your claims outcomes

How does telematics improve insurance claims?

For auto insurance carriers, claims account for the vast majority of their costs. Any reductions that insurers can make to claims costs are critical to improving their combined ratio. Insurance telematics is uniquely suited to address all the major contributors to claims expenses, including:

The financial impact of telematics

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Telematics and the bottom line

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What data is collected for a crash?

Telematics devices collect many vehicle and driver data points and the list grows daily. The number and variety of data points available to insurers to reduce fraud and optimize claims processing depends on the type of insurance telematics solution employed. Common data points include:

  • Location
  • Speed
  • Force of impact
  • Driver behavior
  • Vehicle damage
  • Direction
  • Rotational dynamics
  • Sensor information
  • Incident context

What data is collected for a crash?

Telematics devices collect many vehicle and driver data points and the list grows daily. The number and variety of data points available to insurers to reduce fraud and optimize claims processing expands as telematics devices evolve. Common data points include:

  • Location
  • Speed
  • Force of impact
  • Driver behavior
  • Vehicle damage
  • Direction
  • Rotational dynamics
  • Sensor information
  • Incident context

Telematics and the bottom line

(Infographic)

How is the data used?

The data collected is only useful if it can be translated into actionable insights an insurer can use to improve business outcomes. The collected vehicle data is analyzed to digitally reconstruct an accident in a way that helps reduce claims costs and improve claim efficiency. Common uses of crash data include:

  • Assigning responsibility for a crash
  • Estimating extent of crash damage
  • Identifying and reducing fraud
  • Notifying and dispatching emergency services
  • Streamlining claims processing

These crash-related services, taken together, significantly improve policyholder experience and help insurers retain customers at a pivotal engagement point.

Octo’s crash and claims capabilities


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