Services
For Insurers
The Coverbox Panel and Pay as You Drive Product has been an exercise in not only ‘proving concept’ to the Insurance Industry but in collecting driving behaviour data for personal lines customers in order to assist insurers in designing innovative telematics based products to reduce risk in certain segments.
Wunelli has a proven supply chain for Insurers to enable them to launch a telematics based insurance using tried and tested hardware, data collection and billing / administration processes. This means that Insurers can move quickly to market and can provide a more tailored insurance product to the policyholder , but most importantly provides Insurers with an abundance of data in order to price the risk more effectively whilst giving customers a premium which truly reflects their individual risk profile. The data available is also vital in helping with claims management and improving customer service.
Wunelli has successfully launched a PAYD telematics based panel in the UK and have sold thousands of policies. The business has created a database of telematics data and driving behaviours, to enable insurers to further reduce risk, combining this data analysis with traditional underwriting criteria.
By choosing Wunelli to launch a telematics based insurance product an Insurer can capitalise on the spend that Wunelli have already made, plus the experience and the proven supply chain already created. The initial start up cost for an Insurer is therefore dramatically reduced. In addition, an Insurer will be able to leverage the experience of all the partners. We will fully manage the entire supply chain for either panel creation or direct product design and launch. We will also manage all ongoing business using their existing relationships, hardware/technology and business processes already created, so the resource requirement from the existing business is minimal.
Service Options
The business can choose any or all elements from the supply chain that Wunelli offer. We recommend you utilise the business consultancy package to identify the business proposition you wish to consider and the elements from the supply chain required to fit that conclusion.
Business Consultancy Package
Our executives provide business expertise and data to enable the client to understand;
How telematics works and is being used with Insurance. What data can be applied with traditional underwriting rules to reduce risk.
The workshops we run will establish:
- Market segment to be targeted that compliments existing business strategy
- Proposition message for that target market
- Key product design
- Business Case Financials and Key Performance Indicators
- Project Plan and Implementation Schedule
- Opportunities for existing products and business flows within the clients current markets
- Operational Requirements
You can choose the package to assist you in your deliberations and better understand our experience of telematics in the insurance field or you can merely choose some or all of the supply chain that will enable you to bring to market a new product;
Supply Chain Availability
Sales
- Creation of brochureware
- Creation of customer facing site for on line purchase and installation request linking to scheme and trip database
- On line payment provision
- Call Centre for sales support
- Regulated entity
Admin
- Administrative support for the inception and ongoing management of the policy
- Call centre for customer support, regulated entity
- Creation of a customer dashboard and contact strategy
- Review of documentation collected by Install network to verify the customer and vehicle
- Account management of payments and commissions where appropriate
Telematics
- Provision of Installation Administration
- Provision of Installer Network
- Proven Hardware installation
- Data collection and aggregation
- Data supply into a trip database to link with administration systems for billing purposes
- Data analysis of telematics to enable pricing review against product parameters and renewals, plus ongoing administration
- Theft Tracking 24 -7 -365 service Europe wide
Claims
- Provision of an FNOL provider
- Provision of telematics data to support claims
- Theft tracking service initiation
If you would like any further information on these services please contact enquiries@wunelli.co.uk