A 2021 ICTA nomination
Toronto, ON (Apr. 15, 2021) – Aviva Canada has been on a focused auto claim innovation journey for the past three years, steadily making it faster and easier for customers to report their collision claims to Aviva, allowing customers to enrol in automated digital SMS notifications for claim progress updates, and enabling adjusters to make the critical repairable vs total loss decision right on the first notice of loss call with the customer via real-time predictive analytics. This year, we have extended our innovation efforts to cover the tail end of the total loss journey with a new (first in Canada!) real-time integration from Guidewire ClaimCenter to AutoTRADER for immediate total loss vehicle valuation.
The new real-time integration was completed in the summer of 2020 and was launched to a pilot group of adjusters in order to assess its effectiveness (usability, performance, and financial outcomes) and its impact on the customer experience. The tool, invoked directly from within the adjuster’s familiar Guidewire ClaimCenter user interface, makes a real-time API call to AutoTRADER with vehicle and location details. Assuming that there are sufficient comparable listings available, the service returns a recommended settlement value for the customer’s total loss vehicle to the adjuster’s ClaimCenter screen. In addition to incorporating automatic mileage adjustment, the solution also returns direct links to the comparable AutoTRADER sale listings that the adjuster can in turn provide to the customer to help build their confidence in the valuation.
Prior to the launch of the AutoTRADER integration, determination of a vehicle’s residual value by an expert appraiser would usually take upwards of 20 minutes, and as a result would require a secondary call to the customer with their settlement offer. The historical lack of customer trust in the insurance industry also created an environment in which settlement offers were just the beginning of protracted negotiation cycles with the customer, sometimes lasting multiple days. With the new service in place, the settlement can be discussed with the customer within seconds of the total loss determination being made, and the settlement presented can be substantiated with in-market comparable sale listings.
While the pilot size was relatively small, the results have given Aviva Canada tremendous confidence in moving forward with full rollout of the solution in Q1-2021. Cycle times of pilot claims were reduced by several days, allowing 14% more total loss claims to be completed in under 10 days, in turn delivering meaningful savings on storage and rentals. The sub-20 second response time on the service (inclusive of AutoTRADER API call/response and subsequent Guidewire ClaimCenter post-processing) allowed adjusters to continue the total loss discussion through to settlement on the first call with the customer, increasing average handle time on initial calls, but reducing the need for additional calls in the end-to-end claim journey. In addition to the operational and financial benefits to Aviva, the pilot claims also showed an average +17% jump in customer NPS relative to baseline total loss claims.
About Aviva Canada
Aviva Canada is one of the leading property and casualty insurance groups in the country, providing home, automobile, lifestyle and business insurance to 2.4 million customers. A subsidiary of UK-based Aviva plc, Aviva Canada has more than 4,000 employees focused on creating a bright and sustainable future for their customers and our communities. Aviva Canada invests in safer Canadian communities through Aviva Take Back Our Roads. Launched in 2019, Aviva Canada is investing in data driven solutions and strategic collaborations to make safer roads a reality for all. For more information, visit aviva.ca.
AutoTrader, a fast growing leader in the automotive industry, is one of Canada’s largest digital businesses, with unrivaled consumer and dealer brand recognition.
The cornerstone of our product universe is AutoTrader.ca, the leading new and used auto, truck and power sports classified site in Canada. Empowering Canadians to buy & sell like pro’s, leveraging both our 4.5 star rated mobile app, comparison features and car reviews. Through significant marketing investment AutoTrader.ca traffic has tripled over the last 3 years, generating more than 10 million unique visitors a month.
We are dedicated to the more than 5,000 dealers we support. This is evident in everything we do from navigating a digital world, our products & services and industry knowledge. Our marketplace, inventory management tools and website solutions allow dealers to become serious on-line competitors. Their long-term success is also ours.
AutoTrader seeks out individuals Fueled by Courage, Driven to Perform, Dedicated to Customers and most importantly, will come to understand that we are all One TRADER.
Guidewire (NYSE: GWRE) is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and AI to deliver our platform as a cloud service. More than 400 insurers, from new ventures to the largest and most complex in the world, run on Guidewire. For more information, please visit www.guidewire.com.
SOURCE: Aviva CanadaTags: Aviva, ICTA nomination, industry first