The auto industry is no stranger to technology. Automotive technology has allowed for drastic improvements in driver safety as well as increased connectivity. With the rise of telematics, first notice of loss (FNOL) underwent a significant transformation.
Understanding Telematics
Telematics is more than just data. It is a connection between onboard computers and wireless technology. This connection allows the vehicle’s computers to share information with several platforms, improving safety and forever altering the FNOL landscape. One of the first major uses of in-vehicle telematics was with communications and security systems. If an individual was involved in an accident, the vehicle’s communication system could call for help on the driver’s behalf.
Another use for telematics was adjusting car insurance prices based on driver behavior. Insurance companies use a variety of factors to determine each individual’s insurance rate. However, with telematics, a driver could secure better rates by proving they do not speed, make hard brakes, and so on. Now, insurers can use telematics to establish FNOL as well.
Telematics and FNOL
Vehicles equipped with computers and sensors can do more than dial out for help in the event of an accident. Those sensors can pull details adjusters need to start the claims process such as where the accident occurred, how fast the vehicle was traveling at the time of the accident, what areas of the car were damaged, and more. This can allow the adjuster to begin working on estimates, expediting the claims process.
FNOL telematics allows insurance adjusters to resolve more claims in less time, which provides a boost to customer satisfaction. Happy customers are also more likely to recommend their insurer to friends and family, which can increase the customer base as well. To stay up to date with the latest FNOL technologies, contact the experts at Actec.