Cambridge Mobile Telematics & Razors Edge Consulting Partner to Speak on Claims Telematics at the Auto Insurance Report National Conference
“Automated Crash Reporting Finally Matures” session to cover the biggest trends, learnings, and breakthroughs in claims telematics
Cambridge, MA, April 25, 2022 — Cambridge Mobile Telematics (CMT), the world’s largest telematics service provider, and Razors Edge Consulting, an innovative information technology consulting firm, today announced they will be co-presenting on claims telematics at the Auto Insurance Report National Conference in Dana Point, California. The session, “Automated Crash Reporting Finally Matures,” will cover the challenges faced by claims organizations today, the benefits provided by claims telematics, and how carriers can build claims telematics into their culture and across their organization.
“Claims telematics is the biggest innovation to happen to the industry in decades. Over time, claims telematics will control or reduce the price of auto insurance. Playing catch up on implementation and process change will be a challenge in a quickly evolving market,” said Brian Passell, Managing Director of Razors Edge and former Chief Claims Officer for Progressive. “Early adopters will gather more data at a quicker pace, improving service, reducing expenses, controlling indemnity, and improving job satisfaction. The industry leaders will accurately price the best risks. Adverse selection will settle in for competitors.”
Claims organizations have made many improvements over the past 5-10 years with innovations like virtual estimating and automating simple claims. Despite these innovations, major challenges remain, such as manual coverage reviews, long cycle times, secondary tows, and more. Real-time crash scene data, provided by claims telematics, is the missing link. Claims telematics touches every element of claims, from FNOL to investigation, appraisal, and payment.
“CMT powers the claims telematics programs for many of the largest carriers in the US, Canada, and Europe. These programs drive value for insurers through real-time services like crash assistance, increasing digital adoption among customers, and creating automation and straight-through processing,” said David Morse, Chief Commercial Officer for CMT. “Insurers have seen the value and are now accelerating investments in their claims telematics programs, scaling them across their whole book of business.”
Claims telematics can drive significant business improvements by lowering LAE, reducing loss outcomes, and enhancing the customer experience. For example, claims telematics can help insurers:
- Reduce cycle time
- Enable faster, more reliable liability investigations
- Unlock faster, more effective triage
- Drive faster, more effective total loss decisions
- Reduce legal and medical run-up costs
- Accelerate fraud identification
The “Automated Crash Reporting Finally Matures” session with Brian Passell and David Morse will be held from 4:15 – 5:00, on April 26, 2022, at the Waldorf Astoria, Monarch Beach Resort in Dana Point, CA.
About Cambridge Mobile Telematics
Cambridge Mobile Telematics (CMT) is the world’s largest telematics service provider. Its mission is to make the world’s roads and drivers safer. The company’s AI-driven platform, DriveWell®, gathers sensor data from millions of IoT devices — including smartphones, proprietary Tags, connected vehicles, dashcams, and third-party devices — and fuses them with contextual data to create a unified view of vehicle and driver behavior. Companies from personal and commercial auto insurance, automotive, rideshare, smart cities, wireless, financial services, and family safety industries use insights from CMT’s platform to power their risk assessment, safety, claims, and driver improvement programs. Headquartered in Cambridge, MA, with offices in Budapest, Chennai, Seattle, and Tokyo, CMT serves millions of people through 80 programs in 18 countries, including 21 of the top 25 US auto insurers.
About Razors Edge Consulting
Razors Edge Consulting is an innovative information technology consulting firm with a single mission: “To be a trusted partner and advisor, providing expert service and innovative solutions to our clients. Since 2005, we have striven to deliver the highest quality service to companies in virtually every industry.”