Genasys Technologies has entered a commercial agreement with Xtract, whereby Genasys Technologies clients will be able to licence Xtract’s state-of-the-art connected car incident monitoring and claims analytics platform. Xtract’s solution has been embedded within the Genasys Technologies platform.
Xtract captures generic crash data at FNOL and delivers actionable insights to claims handlers enabling swift liability decisions, fraud deflection and vehicle damage triage. Capturing multiple data sources and data points at FNOL from any telematics device as well as their manual self-serve solution, Xtract provides an animated reconstruction of a vehicle along its journey from pre-impact to post-impact. The reconstruction allows for all parties analyzing the claim to swiftly assess what happened digitally, thus improving the whole claims experience for both customers and insurers.
This new partnership will allow Genasys to offer its motor clients out-of-the-box integration with Xtract’s crash data technology platform, enabling faster and more accurate claims handling.
André Symes, director at Genasys Technologies UK, says “We looked at a number of different businesses here in the UK as well as further afield and it became clear pretty quickly that Xtract were way ahead of the rest. They’re quite simply one of the most exciting InsurTech businesses that we have met over the past 18 months.
“Enabling claims handlers to visualize crash data and easily incorporate into their existing claims workflow will revolutionise how motor accident claims are managed and deliver significant benefits to not just insurers when it comes to indemnity spend, but also their customers when it comes to a smoother claims journey. We’re confident that this new capability represents a massive value-add to our proposition to motor insurers and will have a positive impact by bringing best-of-breed connected car technologies to the motor insurance claims process”.
Michael Flanagan, CEO at Xtract, comments, “We are pleaded to be partnered with Genasys to enable advanced Connected Car analytics to serve both its UK and South African markets. Together we will allow customers to quickly access the liability associated with incidents, shorten the claims cycle time, improve accuracy and fully leverage the rich connected car data that is now available”.
For more information please visit: www.xtract360.com