Acting by its administrator, Mr Gary Steven Pettit of PBC Business Recovery & Insolvency Limited Date of administration: 18 August 2023
As autonomous vehicles become closer to reality and 100% connected cars along with 5G start changing the way driver data is managed, it is possible to use this technology in ways that increase and enhance the driver experience. Tech is allowing vehicle manufacturers to interact with their customers after they leave the forecourt with their new car and offer a customer service experience which builds brand loyalty whilst allowing the manufacturers to really understand how their vehicles are being utilised.
Having access to data from thousands of drivers can also optimise energy performance and decrease emissions as data allows us to really understand how customers drive.
Manufacturers need to adapt to the new world where connectivity is a necessity especially in a post COVID world. Drivers in the UK are changing the way they driver and the majority of UK drivers have stated they will continue to drive less even post lockdown. This has seen a surge in drivers being interested in the transparent, cheaper, and flexible connected insurance solutions such as Usage Based Insurance (UBI) or Pay as You Drive (PAYD) insurance. This demand for a mileage-based insurance solution shows that drivers are keen to use technology to reduce costs and take control of their driving habits.
Vehicle manufacturers must facilitate the technology required to offer these connected solutions to keep up with customer demands and most of them are. They are shifting their focus from hardware to software and this shift allows new services or technology enhancements to be added via software updates. This ability to remotely update software enhances and improves vehicles even after purchase and provides better insights and data to take action to improve the customer experience and car performance.
Verex offers these solutions to enhance customer experience within the vehicle manufacturer market including a range of insurance solutions products and services that allow them to offer a personalised service to their customers.
Services will include; Usage Based Insurance (UBI) and Pay As You Drive (PAYD), plus ‘E-FNOL’ (First Notification Of Loss) capture can be fully deployed.
Verex Group is the market leader in the Vehicle Manufacturer Insurance and Accident Management sector. Alongside our network of partners, we utilise the latest innovations in connected data and technology to continually transform our business to achieve our future goals.
Our new range of services will allow vehicle manufacturers to offer a personalised service to their customers. Services will include; Usage Based Insurance (UBI) and Pay As You Drive (PAYD), plus “E-FNOL” (First Notification Of Loss) capture can be fully deployed. These propositions will deliver a more customer service orientated experience, a streamlined approach to accident management and the claims process and create added value into the branded network whilst helping to automate and control claims for insurers and increase parts and repair referrals to vehicle manufacturers.
