Another gain for data in the insurance market this week: e2e, a frontrunner in total loss vehicle management, and Incited, a data analytics leader, has announced their collaboration to reshape total loss data’s role for insurers. With Incited’s expertise, e2e has revamped its management info and reporting, offering clients interactive access to refreshed total loss data every 24 hours.
The partnership anticipates a transformative shift in insurance, converting data into actionable insights for informed decisions.
In a recent press release, the companies said the new offering: “Clients will be able to dynamically interrogate and cross analyse all this data on the single platform, gaining a truly holistic overview of their total loss motor claims; enabling strategic reviews, process engineering, cost reductions and improved efficiencies.”
Unlike static monthly reports, the new data solution will offer real-time insights.
e2e’s next move is to integrate predictive analytics, enabling clients to anticipate future probabilities linked to total loss motor claims. e2e’s platform will also incorporate data from SalvageMarket auctions and reclaimed parts, allowing clients to cross-analyse diverse data streams for comprehensive insights.
Jim Loughran, e2e CEO, underlined their mission: “The total loss market represents untapped commercial opportunities for insurers and access to high quality data will enable them to identify, evaluate and act on those opportunities. Static monthly reporting simply cannot provide the business insights they need. The creation of our data platform and our new, interactive approach to MI reporting is part of our business strategy to be the premier data-led and technology-enabled provider of salvage claims management and fulfilment services. It’s time to raise the bar.”
Nick Turner, Incited CEO, praised the collaboration: “Together, we’re redefining ‘data enabled’ standards in the total loss marketplace.”
Nick Turner, CEO at Incited commented: “The speed to value ratio of the first phase of this data and analytics project with e2e has been really impressive. The appetite in the business for innovation and delivering real change for the market through access to data is voracious. We are delighted to be partnering with e2e and welcome the quality of collaboration they bring to the table. We have an exciting road map of data and analytics solutions to deliver by the end of the year and we look forward to supporting e2e in setting a new ‘data enabled’ benchmark in the total loss marketplace.”