VRM Data Overview
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www.VRMdata.com A quick & easy Vehicle Registration Mark entry, analysis & reporting system for Insurers and their professional advisers handling Road Traffic Collision claims
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Transcript of VRM Data Overview
www.VRMdata.com
A quick & easy Vehicle Registration Mark entry, analysis & reporting system for
Insurers and their professional advisers handling Road Traffic Collision
claims
www.VRMdata.com
Fraudulent RTC claims are big business
£350 million annual cost of staged or contrived accidents.
Cost to the consumer at least £45 per policyholder per year…
As many as 1900 organised ‘rings’ of staged accident fraud in operation.
Police reluctance to investigate insurance fraud.
www.VRMdata.com
Underwriting competition remains fierce.....
...and service standards for the policyholder must be maintained and improved
www.VRMdata.com
Insurers are virtually on their own ....
How do we stem this rising tide and maintain customer service standards?
From a police perspective, fraud, whether insurance related or other, is not a:
•priority or
•performance indicator
www.VRMdata.com
Static defences built to date..
GTA program to ‘codify’ claims process.. IFIG alert circulation system Private databases – MyCarCheck, CRIF, Netfoil ABI initiatives, MIAFTR, CUE IFB to tackle serious and organised crime Legal precedent and recovery
These are some of the defence systems, processes, data storage and industry agreements in place to help mitigate insurer loss as the fight on all fronts….
www.VRMdata.com
Weaknesses exist…
GTA has not been satisfactory for all and credit hire remains a huge problem.
Fraud circulars require human distribution, analysis, interpretation and action.
Private databases are not all linked or specific to a type of loss and require ‘scrubbing’ by experienced personnel to address false-negatives.
Many data input defence systems are affected by time lapse entry.
The legal process is slow, reactive and expensive.
www.VRMdata.comKnowledge is power ….
On day 1, armed with just Vehicle Registration Marks and your date of loss, what can you do?
More than you think….
DEFENDANT CLAIMANT HIRE CARS
www.VRMdata.com
Vehicle Registration Mark analysis
When you see a VRM what do you think?How do you interpret DVLA information?
VRMdata, for fast, consistent, automated analysis of DVLA, Total Loss and annotation records.
Do not miss the opportunity for immediate and continued assessment using rules applied by experienced investigators.
www.VRMdata.comAnalysis & Cross-Referencing
1st Reg’ - ageLast keeper changePrevious keeperVIN anomaly etc.Keeper post loss?
Cross referenced
with existing and new entries
Adverse HistoryDateKeeper Change sinceVIC
AverageAnomalies?
information
Known ‘suspects’User defined
Reports
Loss &/or Inception for analysis
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Introducing www.vrmdata.com
•The VRM website incorporates our unique CHAP database and alert system to analyse information relating to the vehicles involved in an RTC claim, including any credit hire vehicles already or subsequently provided to claimants.•It is often difficult for claims handlers to collate and interpret all technical information generated in a typical road traffic collision, particularly at first notification of loss and where time pressures exist.
•Building on our industry knowledge, VRM has been designed to facilitate an instant analysis and report process that focuses on the VEHICLES involved and data relating to these objects.
www.VRMdata.com
What does vrmdata.com provide?
Rapid data entry often taking less than 1 minute.
Instant analysis from only 2 Vehicle Registration Marks using live xml feed.
Generates report highlighting key facts relating to the VEHICLES involved.
Includes additional claim research tools
www.VRMdata.com
Register, log on and start analysing
Enter claim reference, date of loss..
Insured’s VRM Claimant’s VRM Hire Car VRM if
available Click on ‘Analyse
Claim’.... A report is instantly
generated......
If some of the VRM’s (above) are unavailable, simply return and input them at a later date
www.VRMdata.comUse your report...
To pass to a supervisor for additional comments and advice...
As a basis for further research using the online tools....
As a work in progress document to add further notes and data as the claim progresses..
To move towards the next stage in settlement.
www.VRMdata.comUse the tools to...
Uncover further information on the vehicles involved using our instant web search...
Enter mileage data for any of the vehicles and get instant analysis..
Use CHO input screen to check against duplicate data for other companies or addresses
Add notes, comments, to do’s..
www.VRMdata.comUse the tools....
Add a VRM to our database for monitoring. System will check VRM in 30 or 90 days for
keeper, vehicle identity or salvage status changes.
Monita™
www.VRMdata.comImportant to note..
We DO NOT collate, cross reference or mine for PERSONAL DATA
The focus is on the vehicle and non-personal data means faster, consistent analysis...
Reduced risk of human error... Compliant with Data Protection
considerations.
www.VRMdata.comComing soon............
Recon™
A new mobile, pro-active defence system against RTC fraud for insurers
www.VRMdata.com
minimum input 4 maximum output
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For further information contact;
www.vrmdata.com
