Case Study

Zurich - Claims Telematics Case Study

Learn How Zurich Insurance Leveraged Telematics Data to Substantially Cut Claims Costs

Executive Summary


Claims as a Service (CaaS) provided Zurich with the most comprehensive suite of telematics and analytics services in the market, significantly improving claims costs beyond traditional accident detection.

Reducing claims costs is an important objective for insurers that until recently has been mired in past-generation techniques. Fraudulent claims, disputes over the nature of accidents or losses, and a lack of verifiable data about incidents can complicate judgments and cloud settlements. A comprehensive and complete approach to claims cost management—beyond basic accident detection (which represents only about 10% of the proportionate benefit that can be truly achieved with telematics)—offers a valuable means for insurers to reduce a broad grouping of expenses in this area.

Questions that Zurich wanted to resolve were:

  • Can telematics technology integrate seamlessly into everyday claims processes?
  • Do the benefits of telematics justify the costs involved?
  • Does evidence based on telematics data hold up in court?
  • How difficult is it to understand, analyze, and use the massive volumes of telematics data captured during vehicle operations.

Zurich Insurance Claims Telematics Case Study

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Table of Contents

    • Claims Customer Experience - Why it Matters
    • Claims Costs Categories: Areas for Telematics Improvement
    • Key Value of the Claims as a Service (CaaS) Solution for Zurich
    • Industry-Wide Savings and Benefits of Claims as a Service (CaaS)
    • Universal Benefits of Claims as a Service (CaaS)
    • The Future of Insurance Telematics and Claims for Zurich and Others

 

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