- Partners’ connected Internet of Things, cloud, analytics and mobile platform a first for insurance
- Will drive fairer insurance premiums, better customer services and competitive advantage for insurers
ServicePower Technologies Plc, a market leader in field service management technology, recently announced that it has signed a strategic partnership with Concirrus, a leading provider of Internet of Things (IoT) and M2M (machine to machine) services, applications, sensors and monitoring. Real time M2M and IoT analytics delivered by Concirrus, together with ServicePower’s optimized scheduling of insurance employees informed by enterprise mobility, will enable faster, more accurate and cost efficient claims management; this in turn will help insurers significantly improve customer services and achieve competitive advantage.
The partnership creates the first-to-market cloud-based IoT and service management solution for the insurance sector. M2M data will be harvested by the Concirrus IoT platform from sensors in insured items which will be used to instantly analyse and report back on potential claims. Connected to ServicePower’s field service management platform, this information can then be applied by ServicePower to automatically optimize and schedule appointments – sending the right adjusters, to the right place, at the right time. At the same time they will be sent the Concirrus IoT report and related tasks or forms to their connected mobile device so they have accurate details from which to make better informed decisions.
Working together the combination of live IoT data delivered by Concirrus and the rapid mobilization of employees deployed by ServicePower, will enable insurance companies to deliver a much faster and more accurate response to customers while also reducing costs.
“This partnership is a step-change for the sector,” said Marne Martin, CEO, ServicePower. “The Concirrus IoT platform removes a lot of guess work for adjusters. Sensors placed in machines record actual events such as the speed of a car crash, travel of direction, location and even weather conditions. Additionally it is a totally cloud-based solution which removes the complexity of IoT delivering it as an intuitive service. Our service management platform can then be used to optimize the handling of the claim. This is incredibly powerful for the insurance industry, not only for individual events but to also analyze trends over time.”
The partnership is part of ServicePower’s strategy to provide its customers with innovative technology.
“We look to work with the best and ServicePower has a platform that provides businesses with automation, optimization and visibility across the service value chain,” said Andrew Yeoman, Chief Executive Officer at Concirrus. “Our technologies will seamlessly link to deliver an end-to-end solution for businesses. ServicePower can optimize the activities of insurance companies’ employees and, through its advanced enterprise mobility, provide reports generated by our platform that predict, for instance, damage to a vehicle, as well as any additional information the field adjuster requires to complete a job.”
With the insurance sector being the first area of interest the partners expect to take this offering to the many other field businesses that could benefit from this approach.
ServicePower, the acknowledged leader in Optimization Technology, provides an innovative global, fully mobilized field service management software platform used by field service organizations such as Mitsubishi, Farmers Insurance, AIG Warranty and Pitney Bowes to improve productivity and efficiency, intelligently schedule appointments, SLA and complex jobs, as well as parts. Our platform focuses on solving fundamental field service problems with patented routing optimization, M2M connected services, 3rd party dispatch and warranty claim payments, cutting edge mobile technology, robust business intelligence and asset tracking.
ServicePower is listed on the AIM market of the London Stock Exchange with the ticker SVR.L. For more information, visit www.servicepower.com.
Concirrus, named as a top 10 PAAS (platform as a service) UK company by Cloudscape, and as a Cool Vendor in the Internet of Things 2015 by Gartner, is the leader in the Internet of Things (IoT) market. Its unique cloud-based platform enables customers to gather and analyse Internet of Things information and use it to improve, disrupt and create innovative businesses and processes. Concirrus is the first end-to-end solutions provider in the IoT market that designs, develops and hosts IoT solutions, creating a total solution for its customers. For more information, visit http://concirrus.com/.