Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 20th of February 2018
May 11, 2010

Major changes for motor claims services providers

by Gill Montia

Story link: Major changes for motor claims services providers

The credit hire industry is set for major change, according to a new report by Gemini Vehicle Solutions, the motor claims support services provider.

In a paper entitled “Life After Credit Hire?” the firm suggests that the need for better treatment of non-fault policyholders involved in road traffic accidents is now universally accepted.

As a result, insurers are choosing to “out service” the competition rather than fight lengthy legal battles and are becoming focused on the cost effective and efficient provision of mobility solutions.

Gemini’s managing director, Eddie Longworth, comments: “We may even see the day when providing ‘credit’ to the non-fault policyholder almost becomes a thing of the past.”

He adds: “Instead, pre-approved mobility solutions from the at-fault insurer will replace the current practices and service providers will need to be more competitive in their pricing models.”

Mr Longworth also warns that new technology and the ability to easily validate service provision will put margins under further pressure, leaving claims services providers keen to cut costs.

 

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