Sedgwick, a provider of technology-enabled risk, benefits and integrated business solutions, has partnered with InsurTech Concirrus in order to bring their Quest Automotive risk management tool to the UK marketplace.
According to an announcement on the new strategic partnership, this arrangement marks a first-to-market proposition for predictive analytics in fleet claims, providing fleet managers, risk managers and insurers with a clear understanding of both driver behaviour and risk.
Under the agreement, Sedgwick’s system is integrated with Concirrus’ Quest Automotive in order to analyse driver behaviour, alerting clients to risk factors such as speeding, fast cornering, tailgating, and other dangerous behaviours.
This analysis offers fleet managers with comprehensive and instant information on driver performance, enabling managers to spot trends in driver behaviours, helping them to prevent incidents on the road before they occur.
Bonnie Parker, Head of Motor at Sedgwick UK, commented: “Using predictive analytics to reduce the risk of accidents is something never seen before in the industry and adding risk management to our existing end-to-end service can only be beneficial for fleet managers and insurers alike. Partnering with Concirrus is an exciting step for Sedgwick, and will definitely change the way motor claims are managed moving forward.”
At the same time, the new partnership between the pair sees Sedgwick offer automated First Notification of Loss (FNOL) on fleet vehicles, via existing telematics or cameras in vehicles. This should reduce the time it takes to report an incident, which in turn will lower claims costs.
Paul White, CEO Sedgwick International UK, said: “This new partnership is an exciting new venture for Sedgwick. Sedgwick is committed to providing global tech solutions to our clients and it is through partnerships with forward-leading insurtech companies like Concirrus that we will continue to lead the way in this. Using technology and data to proactively reduce risk is the next evolution in claims management, and we are proud to be at the very front of this.”
Craig Hollingworth, business development officer at Concirrus, added: “With a pioneering spirit and innovation at its core, it’s clear to see why Sedgwick is the largest TPA globally. For us, this partnership provides a strong foothold into global markets and reinforces the value that Quest Automotive can deliver.
“Recent market conditions as a result of the Ogden rate change, GDPR and a hardening market have intensified the pressure on fleets and insurers to reduce costs – integrating digital technologies like Quest Automotive could be a real game changer.”
