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Insurance software and BPS provider The Innovation Group is moving in to the telematics arena via a partnership with smartphone telematics apps developer Wunelli Ltd.
Portsmouth-based Wunelli is run by insurance veterans, for instance chairman Sandy Dunn has 40 years in the sector, having held recent senior positions at Swinton Group, Call Connection and Supercover Insurance. The company was set up in 2008 as a research and data provider to supply telematic hardware, software and consultancy services to the insurance industry. But it has since honed in on smartphone apps. These now include rate your driving apps and gamification apps to see how safely you drive, and dashboard apps. It also provides apps for customers like the AA and Co Op Insurance.
TIG's ambition is to create a behaviour driven model for insurers since they will be able to gain much better information and visibility on people’s driving habits. Apparently, a number of existing Wunelli insurer clients are now investigating how to enhance their claims process with the crash event data made available via telematics. This is where TIG comes in, since it will be able to help the insurers understand how to use this information to improve their claims processes. Particularly relevant is reducing costs when a claim is made – the so-called key-to-key time – and assisting in areas like improved customer service.
In our report General insurance BPS: opportunities in a rapidly changing market, we pointed to telematics being a hot emerging area for providers. Rival Quindell is pursuing its own approach via the black box telematics systems that are physically placed in cars. TIG’s approach is much more light-touch, and is following the burgeoning use of smartphone apps by consumers.
