Munich Re-backed new insurtech firm targets commercial fleets
Insurtech firm Camatics has launched in the UK as a commercial motor underwriter.
The Camatics system connects the insured vehicle to the company’s UK-based claims team, giving the handler immediate access to vehicle CCTV and accident telematics. This enables proactive claim handling resulting in significant claim cost savings, according to a Jan. 18 press release.
Each policyholder can access their own dedicated Camatics portal, enabling them to remotely access on-board vehicle CCTV, track their fleet of vehicles and monitor driving performance.
“We all get frustrated seeing third-party claim costs increasing, particularly when you know they include exaggerated or unnecessary costs and even fraudulent claims,” said Chris Webb of Camatics.
“Camatics was developed to speed up accident reporting and deliver accident CCTV quickly to the claim handler which is the key to controlling costs. As the technology developed, it naturally led to the policyholder portal and all the added benefits this gives to our policyholders.”
The company said that the Camatics system has delivered an average 35 percent saving to policyholder’s claims experience. The Camatics policy is underwritten by Great Lakes Insurance, a fully-owned subsidiary of Munich Re.
Camatics is currently inviting new broker agency applications.
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