Verisk (Nasdaq:VRSK), a leading global data analytics provider, has today announced a new collaboration to integrate its IVI motor repair pricing and triaging solution with the GT Estimate claims calculator from GT Motive, a provider of repair data in the automotive, insurance and fleet sectors. The new integration will be rolled out across the UK and the wider European market to help enhance digital collaboration and expedite speed and accuracy during the motor damage claims process.
The integration is designed to allow for the GT Estimate calculation module to be accessed directly from within the Verisk IVI application to help provide a rapid assessment of both potential total loss and initial calculation of repair costs. This can help greatly improve workflows to increase the speed at which a decision on a claim can be made, while also minimising manual input required by claims experts and assessors.
“This combination of GT Motive and Verisk IVI is great news for claims experts in the UK and Germany, and in the wider European insurance market, bringing powerful new capabilities to support motor claims,” comments Andreas Bleschkowski, Executive Director, GT Motive Deutschland (GSA). “Our solutions are accurate, fast, cost-effective and future-proof, and this latest development will provide real process optimisation for claims management.”
GT Estimate provides a powerful cloud-based solution for claims professionals to conduct appraisals and repair estimates on motor claims. The solution allows for access to manufacturer data such as Vehicle Identification Number (VIN), Advanced Driver Assistance Systems (ADAS) and Service-Maintenance-Repair (SMR) information, all available with an intuitive, user-friendly platform. IVI from Verisk complements this with automated triaging of motor damage claims into repair or total-loss workflows, using artificial intelligence (AI) and advanced image recognition technologies.
“The new integration with GT Estimate can help provide a marked improvement to initial repair cost estimation and aid expert decision-making – saving time and eliminating errors,” says Matt Thorby, Verisk Head of Motor, EU Claims. “The integration is a significant milestone for Verisk in Britain and mainland Europe, and we look forward to exploring how to further strengthen this collaboration to support the European insurance market.”
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