GT Motive UK Logo White

How Cloud-Based Technology Can Provide a Safer Environment For Your Data

Data Security Encryption

Thursday 7th February officially marks the 20th annual of Safer Internet Day; an event which promotes all digital users coming “together for a better internet” as part of a global, community-led approach. Now as the event date gets closer, cloud-based businesses are looking to highlight just how their technologies can help to provide a safer, more secure environment when hosting their data online. 

The automotive claims industry deals with so much data on a day-to-day basis, and it’s important that the industry considers new measures to protect itself throughout all areas of the supply chain. This could mean anything from insurers utilising digital tools and password or user protected system access rights, straight through to estimatics providers using sophisticated MI reporting or integrating APIs with trusted partners.

But no matter which measures a business chooses to take or how many standard work processes their choose to put in place, utilising a cloud-based technology can be one of the best tools to help provide a safer environment for online data.

What is Safer Internet Day?

Safer Internet Day began as an initiative of the EU SafeBorders project in 2004. It was then taken up by the Insafe network in 2005, and has since grown into a landmark event in the online safety calendar which is now celebrated by roughly 180 territories worldwide.

It’s an all-encompassing project, covering everything from cyberbullying and social networking, to digital identity security, though its commonality each year is that Safer Internet Day always aims to raise awareness of emerging online issues and current concerns.

Why is internet safety important for the automotive claims industry?

Internet safety and security is absolutely critical for the automotive industry as 20% of insurance claims from 2022 are thought to have contain fraudulent information, according to a recent survey by FRISS. This is an increase of 18% compared to their previous survey from 2020, and the research uncovers that whilst insurance professionals have always had their suspicion about fraudulent claims, the data trends indicate a significant increase in the later days of COVID-19, claiming that this is because fraudsters had no choice but to become ‘more creative.’

Triple-I comment on this notion of ‘creativity’ directly in their recent report too, highlighting that “unfortunately, the acceleration of digital processes that began well before the pandemic also provides opportunities for fraud.”

And yet, where the FRISS survey states that fraud detection software services have proven to be highly effective overall – including improving loss ratio by 59%, staying ahead of developing fraud schemes by 53%, and increasing investigator efficiency by 52% – insurance fraud still leaves consumers and claims handlers facing unnecessary and unlawful costs.

When put into perspective, these fraudulent claims resulted in over 11,000 instances of claims fraud last year alone, equating to a total loss of over £122 million as reported by Aviva in their latest findings.

What types of data can cloud-based estimatics platforms securely host?

Cloud-based estimatics technologies can enhance the reliability, efficiency, and sustainability of an automotive claims process; helping to provide a safer environment for your data.

Platforms such as GT Global, for example, processes over 100 TB of data and 60 million parts prices per month, all from 175 different data sources. Plus, parts prices are updated daily, and vehicle models updated every 2 weeks, ensuring that the platform is always up to date, removing the need for duplication of entry and any supplementary estimates.

The system also includes all regional paint systems and providers to fulfil local workflows such as AZT, Thatcham and VRN lookup and can be configured to connect with other providers as required.

What’s more, as VIN Queries are included as standard, users gain access to specific build sheet data across all main manufacturers increasing the accuracy of estimates and reducing errors.

Relying on cloud-based technology for keeping your data safe

Built to connect all stakeholders and network partners within a single, secure platform, GT Motive offers a modern and intuitive solution for complete claims management that reduces claims costs and cycle times, whilst increasing efficiencies and protecting businesses.

We do this by offering a more accurate and up to date data within the system, such as part price, VIN query and ADAS identification. As a result, GT Motive can help reduce the number of supplements required and any double keying, enabling your productivity to remain at the highest level.

But that’s not all.

For us, having our cloud-based technology built on a single database, common structure, with a single integration point to the platform across all of Europe, allows us to offer the most complete catalogue of both collision and maintenance, based on accurate OE data.

Not only does this allow us to offer an accurate 96-98% car parc coverage, it also means that GT Global can form a secure part of your disaster recovery planning as well, acting as a complete digital ecosystem for your claims management processes.

Request your free GT Motive trial today.

Facebook
Twitter
LinkedIn