GT Motive for Insurers

How the Estimating Industry Will Change in 2022

Following a ground-breaking win at the 2021 ABP Awards, is it now time for the industry to change traditions in the new year.

Breaking a 13-year tradition, we were recently presented with the prestigious award for The Repairers’ Choice of Best Estimating System, opening the door for choice and competition for the automotive, fleet and insurance industries.

David Vella, GT Motive’s Executive Director in UK & Ireland said, “we’ve been massive advocates for driving change within the industry… we’re thrilled that the market is open and receptive to our modern, flexible solution will provide them with significant benefits from day 1.”

As it stands today, we are used by insurers, leasing and claims management companies in 28 countries, producing over 5 million estimates per year. With renowned clients including LeasePlan, Arval, and both Allianz and Axa in Spain, we are a prestigious supplier and true experts in our field.

So, what do we think is to come of our industry in 2022?

Fair and transparent pricing is the future

One of our most competitive advantages is our ‘pay per use’ pricing.

Our pricing transparency offers a critical advantage as the world recovers from the pandemic, where many businesses were left closed, with reduced workloads and a depleted fleet and by default, with less need for their estimating solutions.

As we near the two-year anniversary of COVID-19 restrictions, it’s easy to forget that pay per use pricing wasn’t always an option. For most, paying high monthly premiums was the only way to do business, and with costs tending to rise year over year, this left a growing level of uncertainty around budgets, overspend and ultimately whether investing in any new technology would even be worth it. As a result, many companies started to look for providers with a SaaS business model.  

Typically, a SaaS business would have cheaper costs, no hardware installation, highly safe data, easy scalability, endless integration and with GT Global, no monthly subscription costs.

In fact, it’s this exact payment structure that makes our solution just so beneficial to our customers; where even during a global pandemic, we firmly stuck to ‘pay per use’, never increasing any prices.

Not only did this mean we could support our customers through challenging financial times, but it also resulted in a strong level of advocacy and appreciation for an estimatics provider that froze prices in favour of the end user.

For that reason, we expect we’ll be seeing a lot more business adopt a pay per use strategy in 2022.

Accurate, on-demand data will be essential

Gone are the days of swapping pen-drives and manually updating bodyshop terminals. In 2022, SaaS businesses will be able to offer accessible data at any time, from anywhere, for any industry.

The SaaS model means users can streamline processes – everything from licensing flexibility and ease of deployment, to accessing the latest software versions over the cloud. This means there will no longer be a need to sift through files for the latest pricing brochure, or waste time looking for complicated part names. Instead, digital transformation will allow users to pin-point the exact data they need at any time, and confidently trust that it’s up to date.

Automotive and insurance players need this data, along with sophisticated technology and service to automate their processes. Delivering safe and proper repairs to car drivers is essential and enabling reliable data points is the most efficient way of doing it.

Offering direct access to OEM parts prices, completely digitally, ensures that the system is always up to date, accurate, and readily available from any location that has web access. In fact, OE prices are updated automatically and daily in our solution, with new vehicle models being added bi- weekly. Compared to other estimating solutions which update less often or only via manual intervention, this is a phenomenal advantage.

An old tradition which 2022 is sure to break.

Open APIs and integration networks will be embraced  

We expect the esitimatics marketing to transform in one further, essential way in 2022.

Something other estimating providers have conventionally avoided is offering a collaborative and an ‘open’ platform, and whilst we instantly broke tradition, using our estimating system as a platform of partnerships with both new and established technology providers, this remains a distinct offer to our solution only.

Moving forward, the estimating industry needs to adapt. Integrations are one of the best things a SaaS business can offer, and the benefits of working alongside your supply chain network can be exceptional. It’s too time consuming and costly for a business to build every single capability themselves, whereas having an open API means you can actively seek partners who already have that technology available. Ultimately, it means you can hit the ground running.

At GT Motive, our partners include Inspekt Labs, Click-Ins, BDEO, TonkaBI, ControlExpert and Cazoo Data Services- with more to be announced soon. Offering free access to ombudsman approved total loss valuations was also added to our list of integrations and offering a complete portfolio of tool for claim handlers to easily access all relevant information they need when assessing a total loss.

But the key advantage here, is that there is no limit to the number of partners that can be brought on board. This opens so many doors for businesses to scale up; something that as the global economy recovers in 2022, is going to be essential.  

For us, our mission of changing traditions follows our years of global growth and success, shaking up the market to become digital front runners within the claims sector.

Our goal? To offer the most intuitive and forward-thinking solutions to insurers and repairer networks across the globe.

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