LONDON & AMSTERDAM--(BUSINESS WIRE)--Octo Telematics today announced a partnership with Claims Corporation Network B.V. ( “CCN”), a European Third-Party Administrator and Claims Management Service Provider, to enhance its risk & claims management service with its market-leading telematics services and data analytics solutions.
CCN supports insurance companies in controlling and mitigating the total cost of claims with a service that allows for fast, easy and simple handling of local and cross-border claims within and beyond the European Union for insurance carriers, brokers and fleet-owners.
The integration of Octo’s telematics services and specifically crash detection and reconstruction technology into the CCN claims management service will create a complete end-to-end solution. This will provide an enhanced efficiency to insurance companies and an improved experience for their clients. The actionable intelligence provided by Octo, together with the expertise of CCN, will enable insurers to further reduce the total cost of claims and mitigate the risk of fraudulent claims.
Octo has helped over 90 industry partners with telematics adoption and there has been significant earned benefits for insurers in crash and claims management services. The ability to make First Notice of Loss (FNOL) a proactive and positive intervention delivers benefits to both the insurer and insured. Together with forensic crash reconstruction and claims management services, insurers are benefiting from lower claims costs and faster settlement times, often by as much as 50%.
Fabio Sbianchi, CEO, Octo Telematics said: “We are very pleased to be working with CCN to achieve our goal of improved processes for our insurance partners, so they can operate more efficiently and deliver improved financial results. We will continue to innovate in the insurance industry, delivering effective solutions to our partners.”
Cees Werff, CEO, CCN, commented: “Insurers expect new, innovative technology-enabled solutions to report, track and trace a claim so they can take out unnecessary costs, delays and service dissatisfactions. CCN is committed to providing these services and the integration of Octo Telematics’ technology is an important step in delivering a comprehensive cross-border claims solution.”
CCN operates across the European Union and beyond. The agreement with Octo Telematics will be operational across all regions.
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About Octo Telematics
Octo is the number 1 global provider of telematics and data analytics solutions for the auto insurance industry. Founded in 2002, Octo invented the insurance telematics industry. Today, Octo is the largest and most experienced insurance telematics company in the world, transforming auto insurance through behavioral, contextual and driving analytics for more than 60 insurance partners. Octo has more than 4 million connected users and the largest global database of telematics data, with over 100 billion miles of driving data collected and 250,000 crashes and insurance events analyzed. Octo applies proprietary algorithms to this market-leading database to deliver powerful new insights into driver risk, informing solutions that benefit both auto insurance companies and policyholders. The company is headquartered in London, with offices in Boston, Rome, Stuttgart, Madrid, and San Paolo. http://www.octotelematics.com/en/
About Claims Corporation Network
CCN is an European TPA Claims Service Provider. The foundation of CCN is based on the ambition to truly innovate customer service concepts while helping companies overcome their challenges.
In a constantly changing landscape, customers are expecting new innovative services from the insurance sector with easy access to technology solutions and simple ways to report, track & trace a claim and communicate about its status and take-out unnecessary costs, delays and service dissatisfactions. CCN’s philosophy is to support clients in controlling and mitigating the total cost of claims with a platform that allows for fast, easy and simple claim handling.
CCN handles cross-border claims within and beyond the European Union for insurance carriers, brokers and fleet-owners. We offer custom-made solutions within the fleet claims situation and also provide European Road Mobility service, including towing assistance, claims – & repair management as well as repatriation and recovery (regres) service.