Vehicle Inspection Analysis
2009 - How bad can it get?
This is a question that has been touted many times over the last year. Certainly 2008 was a trying year for most concerned with all indications being that 2009 could be even worse.
For Asset Management Solutions, formerly known as Malachi Enterprises, 2009 must be the year where risks are taken with far greater caution than in previous years. Vehicle inspections as well as contents surveys will be absolutely critical if insurers are to underwrite effectively.
CEO Bernd Veening says, “ Vehicle inspections have been around for years already. Insurers serious about their risk use our mobile service as a value-add for their clients safety and convenience. Our current economic environment demands that insurers take these steps to ensure claims loses are minimized.”
This is why…
Analysis of some 3000 vehicle inspections for 2008, show the following alarming results.
· 34% of motor taken on risk had obvious existing body damage.
· 53% of these risks had registered claims within the first 120 days of inception.
Based on previous years analysis, in 2008 there was a marked increase in the following “high risk” areas.
· Vehicles already in an accident or written off before inception of new business policy.
· Clients refusing an inspection.
· Clients “cancelling” and moving their policy when they learn an inspection is required.
There are very clear, measurable benefits to the inspection process for insurers taking on motor and or household insurance.
· It is a very convenient, full mobile service.
· The client is dealt with by professional service focused operators.
· It is a full National service.
· The process is a seamless automated service.
Call 0861 10 14 10 for assistance or click here for further information.
Asset Management Solutions
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