CAPS fits for motor insurers
29th March 2022Tweet
New data shows a 23% increase in the use of CAPS in 2021.
Communication between motor insurers and their supply chains is driving the growth, with Ageas, Direct Line, Esure, LV= and Sabre among the insurers now using CAPS to exchange data directly with their repairer networks.
In the same period CAPS also recorded a 10% increase in the number of bodyshops connecting with its service to 1,357, as well as 21% increase in other suppliers such as parts and salvage businesses.
Chris Payne, Head of Networks and Engineering at LV= Insurance, said, “Our future roadmap is how a technology-enabled supply chain can deliver a digitised customer motor claims journey that benefits everyone and especially the policyholder. The transparency and data CAPS provides is one of its key ingredients.
“CAPS helps streamline our claims processes, and is a key part of a connected supply chain where accurate information is available exactly when a partner needs it to deliver impact. It means that an otherwise disparate network of suppliers can act as one.”
David Neave, Chair of the CAPS National Advisory Council, added, “Managing a motor insurance claim is a collaborative process. Many different businesses with specialist knowledge need to work together in order to repair a vehicle quickly and communicate with the policyholder in a timely fashion. Automation is changing how the sector works and creating more opportunity. This underlines the growth that we have seen in CAPS over the past 12 months.”Tweet