Octo to enhance CCN cross-border Claims Management Service with market leading telematics solutions
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.