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Home Banking & Finance

By Miles-WNS partnership for managing insurance policy

Fiinews by Fiinews
February 17, 2021
in Banking & Finance, Technology
Reading Time: 3 mins read
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WNS Assistance places a priority on driver safety and vehicle security

As the global insurance industry goes through a metamorphosis, a London insurtech By Miles has formed a partnership with WNS Assistance to manage policy using the real-time data of vehicles.

WNS Assistance, a part of the WNS insurance offering and one of the UK’s leading providers of end-to-end claims management solutions, will deliver 24×7 claims management solutions for the company’s pay-by-mile policies, an innovative car insurance offering for drivers of connected cars who cover under 7,000 miles a year.

This offering combines cutting-edge technology with a mobile app and uses actual mileage data directly from the vehicle’s mileometer to calculate monthly premiums. The partnership is to manage claims for a first-of-its-kind connected car insurance policy using the real-time data of the vehicle.

“The insurance industry is going through a metamorphosis across the globe. WNS is proud to be part of this dramatic evolution, and is constantly innovating to deliver solutions that help our clients disrupt the competitive landscape and offer exceptional experiences to customers. This partnership with By Miles for the world’s first connected car insurance is an excellent example of our capability,” WNS Group CEO Keshav R. Murugesh said, announcing the partnership on 15 Feb 2021.

The WNS Assistance claims solution also places a priority on driver safety and vehicle security. It links customers with a 24/7 First Notice of Loss (FNOL) team and dedicated claims managers to proactively make contact and to alert emergency services when required. WNS initiates several immediate solutions depending upon the scenario, including the arrangement of rapid response services to severe accidents.

This unique solution helps accelerate claims lodgements, decrease indemnification costs , and reduce fraudulent and exaggerated claims, providing customers with effortless and user-friendly service.

By Miles is a company from the United Kingdom providing pay-as-you-drive car insurance aimed at those who drive fewer than 7,000 miles a year. The company launched its first pay-by-mile policies in July 2018, using a plug-in device called a Miles Tracker to count mileage, and has now sold over 30,000 policies.

The company recently launched its new policy for Tesla cars that goes one step further, collecting mileage data directly from the car over the internet, without the need for any additional device or software.

Drivers pay an upfront sum to cover their car while it’s parked and are then billed at the end of each month for the miles they drive. This offers many drivers the opportunity to cut their bills if they mostly use their cars for regular short trips or at weekends.

By Miles policies are fully comprehensive, underwritten by a panel of insurers including Zurich Insurance plc and Mulsanne Insurance Limited, and as of 30th January 2021 were rated 4.7 out of 5 stars on Trustpilot.

By Miles is authorized and regulated by the Financial Conduct Authority and has been voted ‘Car Insurance Provider of the Year’ two years in a row at the Insurance Choice Awards 2019 and 2020.

WNS Assistance is one of the leading providers of end-to-end claims management solutions to clients across the UK – from MGAs and blue-chip insurers to a range of fleets and broker businesses. It currently manages over 100,000 claims per annum across property, motor and legal underpinned by a responsive, flexible and fully transparent process to result in reduced indemnity spend and outstanding customer experience. #banking #finance #technology /fiinews.com

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