iVAULT FOR BUSINESS
Problems Impacting Insurance Companies and their Clients
Insurance Industry
Fraudulent claims:
- 125,000 dishonest insurance claims valued at £1.3 billion led in the UK each year.
- It is estimated that a similar amount goes undetected each year.
- The average family pays £50 more in premiums each year to o set these costs
Slow claims process:
- Traditional paper claim forms are a painstaking and slow customer experience.
- Leads to customer frustration and jeopardises brand loyalty.
Complex claims reporting:
- Customers do not list all assets, leading to insu cient insurance.
- As a consequence, the customer is rightfully not paid the full claim and both parties lose.
iVAULT Solutions
Recovery and identification of lost or stolen goods:
- Insurance companies reduce their claim ratios by being able to recover the lost or stolen goods, or not having to pay claims.
- Customers are o ered the salvaged good for a reduced insurance payout..
- Especially valuable for items with emotional attachment.
Fraud prevention:
- Possibility to detect whether the same items repeatedly go missing or a customer has several insurance policies for the same risk.
- Diminishes crime, which costs insurance companies millions each year. Increased insurance coverage:
- Listing of additional or specific items leads to increased premiums.
- Customer can finally list items such as expensive artwork, jewellery, etc., on their homeowners insurance.
