If you run an insurance company, you probably feel the heat of claim settlements on your head. Simply taking the example of road accidents, crashes are more prevalent than ever before on today's busy roads. Undeniably, the number of road accidents are rising, and so is the potential for harm. In order to maintain a vehicle’s longevity, Motor insurance Singapore comes in handy. But how do you optimize and enhance the efficiency of providing insurance for consumers? There is a new way to do this. Experts and insurance professionals throughout the world are taking help from insurtech companies.

Insurtech uses technology innovations to increase the efficiency and savings of providing insurance and settling claims with customers. An Insurtech firm offers highly customized policies that integrate data based analytics that are driven from consumer behavior. With advancing technology, insurtech Malaysia companies have developed a range of products that include GPS tracking of cars, body trackers, house sensors and other advanced products that can benefit insurance companies as well as consumers in the long-run.

Igloo is one such company that understands the necessity of insurance and thus wants to make it accessible for end customers. They have done some remarkable work in providing dependable products and services across 8 countries in Southeast Asia. With a mission to provide insurtech to all, Igloo now has over 15 insurance products in their ever-growing suite, reaching a large number of insurance businesses. Their procedure of aiding insurance firms is likely the most uncomplicated procedure you will come across in the industry. Let’s understand how they work to optimize insurance solutions by taking the example of Igloo’s auto insurance product.

Motor Insurance: How it Works?

Igloo enhances insurance companies with respect to premium calculations and claim settlements by providing usage-based insurance to consumers. The company utilizes an IoT-based plug and play device installed in the consumer’s car. The device analyzes five different factors in their driving – distance, speed, duration, areas driven, and time of day. The data is then used to calculate fair and reasonable premiums and when it comes to making claims, a seamless digital experience allows users to do so effortlessly. In addition to providing advanced, innovative and painless insurtech Singapore services, Igloo also supports their clients with up-to-date analytics.

Check out their website to read more about motor insurance.

For more information, visit https://iglooinsure.com/

Original Source: https://bit.ly/3HjeW6I