GT Motive for Insurers

How Does Driving Compliance Through The Supply Chain Benefit Operations?

Mechanic checks engine compartment of the vehicle

From licensing flexibility and ease of deployment, to accessing the latest software versions over the cloud, driving compliance through the supply chain can help the entire claims operation. But what exactly are the real benefits here, and what does this look like in action?

Driving compliance can mean a reduced workload and streamlined processes

When it comes to benefitting operations, one of the first thoughts that come to a stakeholders mind is how can they efficiently and correctly get their work done, in the quickest time. In estimatics, time is certainly money, and automating tasks can have an incredibly positive effect on workload. In some cases, it can even cut it in half.

A prime example of this is the partnership between GT Global and Autoflow, where users can benefit from automatic price updates which are shared across both systems instantly, eliminating the need for any manual intervention.

Here, the two systems work in harmony to provide a more efficient process that can save repairers the monotonous task of re-keying into two different systems following changes in part prices. Instead, GT Global and Autoflow integrate seamlessly to share these price updates across both the estimating system and the body shop management system creating less room for error and absolute compliance as the tools connect to one another seamlessly, and most importantly, our systems connection to body shop management technology minimised the number of supplementary invoices because the assessments are correct and updated before the invoicing stage.

Driving compliance can mean keeping digital data secure

In terms of ensuring any digital data is kept safe and secure, driving compliance through the supply chain could mean anything from moving to new technologies, using protection tools and passwords, or updating system access rights, through to using sophisticated MI reporting or integrating APIs with trusted partners. But no matter what, in an industry which sees staggering amounts of data transferred between multiple systems on a daily basis, system security will always be a top priority for all stakeholders.

GT Global, for example, hosts over 100 TB of data and processes 60 million parts prices per month, from 175 different data sources. This enormous data stream feeds into daily updated prices and bi-weekly vehicle model updates; all of which allow the entire supply chain to enhance the reliability, efficiency, and compliance of the claims process, removing the need for duplication of entry and any supplementary estimates.

As a result, all this data is stored safely and securely online, eliminating the need for manual intervention to upload, download, print out or write down any of the information. It’s updated automatically and always to the most recent status, meaning that the entire supply chain can rest assured that no sensitive data will be left around for any passer-by to pick up, and absolute data compliance is adhered to.

Costs are reduced

Whereas many solutions in the automotive claims industry require considerable investments, or provider premiums fluctuate based year over year, using the right technology solution can actually help businesses see a significant drop in their overall costings.

This is because cloud-based platforms, such as ours, do not demand any initial, upfront or management costs. Instead, we offer a pay-as-you go framework and fees are based on the actual use.

It also means that there’s no requirement to invest in costly infrastructure, no need to pay for hardware, no arduous installation processes, and no wastage of money or management time. As a result, there is so nasty ripple effect of cost drainage.

Driving compliance can mean removing unnecessary operational friction

Insurers can help to drive compliance within the supply chain by removing any operational friction throughout the IT infrastructure, helping to foster a collaborative approach and the best claims experience for the customer.

Not only does this enable all stakeholders to collaborate and communicate easily through a secure platform whilst providing estimated costs for vehicle repairs following vehicle damage, but it also enables auto-approval, reduces supplements too and drives compliance by everyone working through reliable, updated and secure systems.

And finally, driving compliance means giving automated, accurate updates to the claimant

Whether it’s by ensuring easy, effective communication such as on-demand status reports, ECD’s, or using simple to use technologies which can be accessed from any digital device, the overall experience of the claimant plays a massive part in the supply chain as too, as they are the final end user.

Ultimately, they need to be happy, and it’s not unrealistic for them to expect openness and honesty from all stakeholders, as well as on-time updates.

Here, driving compliance through the supply chain means that for the claimant, they simply see it as getting the job done quicker, without any delays in waiting for documents or updates. And a happy claimant, means a happy supply chain.

An estimatics solution like no other

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

Our solution is completely cloud-based and drives effective collaboration through both accurate data and an open, collaborative approach.

This means we’re able to fully ensure that our data is always up to date, accurate, and readily available, from anywhere and at any time. In fact, our prices are updated automatically and daily in our solution, with new vehicle models being added bi- weekly, making us the most reliable and credible estimatics solution.

But don’t just take our word for it; experience GT Motive for yourself.

Request your free trial today.