The Insurance Monitor: Motor insurance claims - Quo vadis? Issue 2 - 2014
Publisher:
PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft
An analysis of how standardised procedures across motor insurance claims could unlock profitability and customer satisfaction.
Identification of cost-saving opportunities across a fragmented €35 billion vehicle servicing market through better stakeholder coordination
Analysis of why combined ratios exceed 100 percent and how standardised procedures could improve insurer profitability
Concrete opportunities to streamline handoffs between accident response, repairs, parts sourcing, and replacement vehicle provision
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Year:
2014
Language:
English
Pages:
44
File Format:
Abstract
The 2nd issue of Insurance Monitor reveals that insurers in Germany have a lot of catching up to do when it comes to motor claims management. Improved claims processes are long overdue.
German car owners spent around 37.5 billion Euro in 2013 on car insurance premiums and unplanned repairs. This breaks down to 24 billion Euro on car insurance premium, 9.5 billion Euro on unplanned repairs not covered by insurance and around 4 billion Euro on self-retentions.