Benefits to Insurance Carriers

Improved Underwriting, Reduced Losses, and Streamlined Claims

The benefits to the insurance carrier accrue on all facets of the business beginning with underwriting, as well as risk identification and management and, ultimately, the claims management and adjudication areas of the business. The risk assessment data that is collected and electronically managed is more accurate and timely than traditional underwriting data and, in the long term, has growing and significant value. The data collected and managed also represents a higher level of detail than basic insurance application data. The result is better information on which to make risk selection and pricing decisions.

With respect to risk management, because AssureNet's services are web-based, in addition to the deterrent and 'active-intervention' benefits, the AssureNet can provide a window for the insurance carrier to monitor or set alerts for various aspects of the insured's day-to-day operation. On the claims side, the information provided through the telematics component allows the adjuster to determine "what happened?" and "who is at fault?"

Benefits to the Insurance Carrier

  • Accurate information (vehicles, drivers, locations/routes/customers/territories)
  • Immediate reduction of low-frequency/high-severity & high-frequency/low-severity events
  • Performance monitoring (window into insured's operation)
  • Streamlined claims management
  • Better claims adjudication support
  • Theft/Fraud Reduction
  • Accident notification, investigation, assignment of responsibility, reduced litigation cost
  • All information maintained and delivered in ACORD formats