DCL launch Camatics rebooted, lowering claims costs, improving loss ratios, managing premiums

Direct-Commercial-relaunches-Camatics

On the 1st November 2021 DCL launched the next generation of its multi award winning Camatics product.

Camatics first came to market back in 2018 and has since grown to represent a significant part of DCL’s fleet book. Whilst there have been several telematics type insurance policies in the market, Camatics remains rather unique and the results speak for themselves, average fleet claims performance improved by a massive 47% over a 3-year period.

The main aim of Camatics is to ensure prompt reports directly to DCL’s dedicated, UK based, claims team. Adam Marsh, Head of Agency & Development at DCL commented ‘Video footage of accidents has always been a powerful tool when it comes to liability decisions and there is no doubt it helps to get claims settled quickly which save costs but the main benefit for us is the prompt FNOL and our ability to intervene and mitigate third party costs’.

Camatics involves the installation into all permanent vehicles of a 3G connected, forward facing camera which registers impacts and uploads event footage to a platform where it is stored for the duration of a policy for both clients and the insurer to use. Cameras not only register impacts but also elements of driver behaviour including harsh acceleration, braking, cornering and the like and also reports speeding which fleet operators can then use to discipline drivers as they see fit.

Originally the product was only available to policyholders on a three-year basis and cameras were leased rather than owned but following market feedback cameras will become the property of the customer and a new 12 month only option is now available.

There are some benefits which have not changed, a full warranty and all data costs remain included and a client can still secure an excess waiver on every claim up to £1000 where the camera is used correctly but other benefits have changed very significantly apart from the ownership. A new 4G camera is now being supplied with 128BG SD cards increasing the local storage by a multiple of 4 and a secondary camera can also be supplied (for a small additional cost) either driver, side or rear facing.

Perhaps the most significant change in approach is allowing policyholders to fit cameras themselves rather than rely on professional third-party firms. Whilst the option to have cameras fitted professionally remains, at NO extra cost, the flexibility to self-fit means vehicles may not need to be taken out of service.

What cannot be ignored is the average claims cost reductions of 36% or the frequency improvement of 17%. When such figures are being achieved its obvious to see why so many policyholders signing up to Camatics are enjoying year on year premium reductions thanks to the built-in premium stability scale.

Authored by DCL

For further information please contact Adam Marsh, Head of Agency & Development, 0207 621 8475, adam.marsh@directcommercial.co.uk

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About DCL

Established in 2002, Direct Commercial Ltd (DCL) is a market leading Insurance Underwriter specialising in Commercial Motor for the UK and Ireland.

DCL's proven track record in the Commercial Motor market combined with the backing and security of some of the world's highest rated insurers provides the market with a selection of premier, all-inclusive Motor Fleet products.

If you are a FCA registered Insurance Broker and you would like to take advantage of any of our offerings please do not hesitate to contact us via our website or email us directly at enquiries@directcommercial.co.uk

 

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