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Average insurance savings for connected vehicle cameras revealed in new data

The insurance savings potential of connected vehicle cameras has been revealed in new claims analysis by Intelligent Telematics and legal firm Plexus Law.

Analysis of 4,000 vehicles fitted with Intelligent Telematics’ connected camera solution found a 50% reduction in average claims costs.
Analysis of 4,000 vehicles fitted with Intelligent Telematics’ connected camera solution found a 50% reduction in average claims costs.

Analysis of 4,000 commercial vehicles fitted with Intelligent Telematics’ SureCam 3G forward-facing device identified a 50% reduction in average claims costs and a 15% increase in the average speed of resolution when compared to vans and HGVs operating without a camera.

The findings show that rear-end shunts (55%) and collisions while emerging from junctions (43%) recorded the largest reductions in average claims costs.

Intelligent Telematics’ technology captures HD footage of any collision, near miss or harsh driving incident and automatically transmits within moments of it happening, helping insurance claims handlers to make a faster and more accurate liability decision.

Tim Short, head of motor practice at Plexus Law, commented: “When you consider that the reported average cost of motor property damage and personal injury claims last year was almost £3,000 and £10,000 respectively, there are clear benefits to be had from adopting connected vehicle cameras. By taking advantage of first notification of loss (FNOL) and proactive claims management a commercial fleet operator can make dramatic savings, which will go straight to the bottom line of their business.”

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Written by Natalie Middleton

Natalie has worked as a fleet journalist for 16 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. As Business Editor, Natalie ensures the group websites and newsletters are updated with the latest news.

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