Claims Management Software makes for swifter car insurance claims handling
November 07, 2007 (PRLEAP.COM) Technology NewsAquariumClaims has a swift solution to the rising number of car insurance claims, particularly in winter. The switch to Greenwich Mean Time on Sunday 28 October meant Monday commuters found themselves hitting the roads in the dark. With the earlier nights, some 15% of drivers admit struggling to adapt to the new conditions. New and improved case management software from AquariumClaims makes the claims handling process quicker and more efficient for insurance companies.
There has been a rise in motor injury claims to over £2 billion per year. Costs per insurance policy for claims of more than £5 million have jumped by 30% per annum over five years according to recent reports. The total cost of bodily injury claims paid by UK motor insurers has significantly outstripped inflation over the past decade, according to the fourth UK Bodily Injury Study. Claims inflation was 9.5% per year between 1996 and 2006 – more than double the growth in average earnings. Over the last 20 years, claims costs have risen by 840%.
With the increase in car claims, fast and efficient handling of the claims is vital for the insurance industry. Version 2.1 of AquariumClaims case management software makes the process simpler, smarter and swifter for claims companies. AquariumClaims is a state-of-the-art claims management software solution specially designed for fast growth claims companies. Version 2.1 delivers even more benefits to the user, further speeding up the claims handling process.
“The significant increase in car insurance claims over the years has made the claims handling task more difficult for the insurance industry. There are a greater number of cases to handle, while claims companies have to work faster and more efficiently. This is where AquariumClaims delivers. The new easy-to-use features in Version 2.1 make it an even better product, delivering greater simplicity and reliability to the claims handling process,” said Aquarium’s product marketing director Mark Colonnese.
Claims software from Aquarium has been designed specially for claims handling businesses. It is quick to set up and is available at a comparatively lower cost. It uses the latest web-based technology giving users a powerful solution at a cost that traditional software providers cannot match.
Aquarium has set up a “60 second” online test which allows claims companies to compare their current processes with state-of-the-art claims processing using AquariumClaims. The test is free and confidential, and the results are emailed back immediately to the user. Interested claims managers can take the AquariumClaims online test at www.aquariumclaims.com.
For further information contact Aquarium Software, free of charge, on 0800 781 7570 or visit www.aquariumclaims.com
Notes to editors
Traditional software is installed locally on the user’s own server, so requires the user’s IT staff to install and update the software. By using a Software as a Service (SaaS) model, Aquarium does away with this, taking care of installation, maintenance and upgrading of the software as well as secure data storage. The company has also revised its pricing model so, instead of the traditional upfront license costs, ongoing maintenance charges and heavy consultancy set-up fees, Aquarium can offer users faster start-up and much more flexible pay-as-you-go pricing, if they want.
Media Contact: BeyondPR. Tel: 0114 275 6996. Mob: 07930 697773. www.beyondpr.co.uk
Ref: ECA014 – Rise in car insurance claims