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INSPECTION IS BETTER THAN CURE!

Insurers save over £5 for every £1 invested in fraud prevention using motorcheck™, Belron's® new vehicle inspection business.


1.10.05


Leading insurers estimate that the returns from thousands inspections carried out in the run-up to today's official UK launch of motorcheck™ show that they can save more than five times the costs of using the service, sometimes considerably more.

The results so far showed that even for a smaller insurer investing £400,000 in the first year they can save up to £2million. Benefits are primarily from rejecting unacceptable risks, detecting fronting, avoiding fraudulent claims for vehicles already damaged, written off or otherwise disposed of, and other premium and claims adjustments. 

To carry out an inspection, a member of the dedicated motorcheck™ team will visit a policyholder at their home or place of work to gather details of vehicle specification, accessories and condition, check vehicle and driver documents, overnight storage location and other key data including photographs of the vehicle. 

Using a specially developed paperless system, the motorcheck™ call centre receives inspection requests from insurers, contacts the policyholder to arrange a convenient appointment and instantly transfers the details to an inspector's hand-held computer.  The inspection results are also recorded on the hand-held, signed by the policyholder and made immediately available to the insurer, where they can be used by both Underwriting for premium adjustment or cancellation of policies and by Claims, for checking inspection results as and when claims are received. This is a speedy service which is highly effective in both its cost and in the results it produces.

motorcheck™  is modelled on a similar successful business in South Africa.  Bernd Veening, founder of the South African business and now full time Sales Director of motorcheck™ in the UK said:

"If anything, the results in the UK have been even better than I might have expected from the experience in South Africa.  Insurers simply have nothing to lose and everything to gain from using the service - in effect, it's self-financing and, on top of that, our surveys have shown that policyholder reaction is overwhelmingly positive.  Everyone knows that reducing fraud means lower premiums and the vast majority of drivers see the sense of co-operating with that".

  COMMENT

"motorcheck™ is now creating a stir in the market place.  It's an exciting story, one that will continue to grow and grow."

Petrie Hosken 
Head of Communications
 















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