Acting by its administrator, Mr Gary Steven Pettit of PBC Business Recovery & Insolvency Limited Date of administration: 18 August 2023
We recently commissioned a national survey of UK drivers which highlighted the willingness to share driver data is changing and that drivers are demanding more from their next vehicle purchase. Nearly a third of drivers surveyed(29%) want their next vehicle to include a Usage-Based Insurance (UBI) / Pay as You Drive (PAYD) insurance solution as part of the connected services offered by the vehicle manufacturer.
Along with a UBI/PAYD solution over a quarter (27%) of UK drivers want their next car to offer an automatic crash detection solution. This cutting-edge tech alerts the vehicle manufacturer when a crash or incidenth as occurred allowing them to help manage the situation. The results of the national survey highlight a real shift in drivers’ willingness to share their driving data with only 19% of drivers not happy to even if it was going to ‘save them money or help in an accident’.
At Verex we use cutting-edge technology and connected car data managed solutions to offer a range of services to their network of 16 UK vehicle manufacturers, including; Usage Based Insurance (UBI), Pay As You Drive(PAYD) and a proactive “E-FNOL” (First Notification Of Loss) solution. These connected services make accident claims seamless for drivers by automating the process with insurers and the vehicle manufacturer. Supported by a mobile optimised and digital self-service experience, it will also provide customers and their loved ones with additional support when they need it most. Drivers won’t even have to pick up the phone as the market-leading technology will not only know when an accident has happened but also the severity of the incident and organise everything automatically.
The solutions we offer at Verex Group allow UK vehicle manufacturers the opportunity to offer a market-leading experience to their existing and new customers, building increased brand loyalty and customer retention.
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.