Developed by Imperious Technologies, the Jolt proposition uses innovative software and algorithms which are subject to a series of patent application to gather the maximum amount of data at the time of an accident.
The team behind Jolt has a long history of developing disruptive first-to-market technologies, most of which include a combination of imaging, software development, data transfer and interpretation and algorithms. The core elements of this proposition include surveillance camera used in jets and drones, stereoscopic imaging for target alignment and 3D imaging systems (google street view for rail operators) and elements of all of these applications have found their way into the Jolt proposition, in fact, elements of the new Jolt platform are being used today by a sister business HiDef Aerial Surveying.
“We have developed a complete platform that harnesses the technology in drivers’ Smartphones and uses bespoke software designed to run on any device,” said Mark Robinson, the mastermind behind the Jolt technology.
“Following a collision, algorithms and bespoke software turn the data into a format that is sent immediately to Jolt HQ and auto-populates the insurance claim form. This includes the actual video of the incident and supporting data such as collision impact speed, the trajectory and movement of a vehicle post impact, but also third party details such as witness statements, and audio recordings of conversations with third parties along with a suite of other information”
The driver element, the Jolt app, can be downloaded for free onto any Smartphone, removing the cost barrier to market. The driver simply selects the app, inputs their unique insurance policy number, presses activate and places the Smartphone into the windscreen mount. The app does not require additional storage space. This data is then sent team at Jolt HQ and compiled into a package of information that allows insurance partners to see who is at fault. Algorithms and bespoke software turn the data into a format that auto-populates the insurance claim form. The claim is with the insurance company within minutes of the collision.
All the data collected is backed up to ensure it is secure and each participating insurer is given an integrated management portal.
The app also has the capability to notify emergency services of their location within moments of an accident.
Testing of the Jolt technology was done in collaboration with the Collision Investigation Unit (CIU) of Cumbria Police. A number of slow- and high-speed impacts from various angles were tested, the police unit fitted data loggers and in car observation cameras to each of the vehicles. Following each accident the police team conducted a forensic examination of the incident to ensure data comparisons between the various technologies could be undertaken, thus providing confidence in all outputs.
Jolt was developed as a universal platform open to all Smartphone users, Insurers, by next year it will also be available to car manufacturers as they move towards installing in car cameras at the point of assembly. The use of a single platform will reduce costs for the motor insurance industry, including finally being able to address the epidemic in unsubstantive and fraudulent claims, by providing completed accident claims quickly and effectively.
Robinson adds, “The UK motor insurance sector made a £53m underwriting loss in 2013 and insurers paid out £17.1m per day in private car claims for a total of almost 3 million claims. The average cost for such claims - settled for private car insurance -was £2,767, although the average claim for bodily injury was much higher at £11,292
Staged accidents including ‘cash for crash’ & ‘flash for cash’ scams are now commonplace, there has also been a rise in the number of drivers exaggerating claims or even pretending to have been injured following a bona fide incident. A combination of factors including the challenging economic climate, increases in the costs associated with owning and running a car, the fact is many people see making false claims as a victimless crime and a lack of effective evidence is helping to drive up the number of cases of insurance fraud. In turn, this is now pushing up the cost of premiums for the majority of honest consumers, according to the industry. It is said that more than £2.1bn of undetected insurance fraud is committed every year (Jones, 2014).
The Association of British Insurers (ABI) believe whiplash claims in isolation cost the sector over two billion pounds per annum, at least 50% of these are thought to be fraudulent. Bodily injury claims accounted for 47% of total cost of settled claims in Q1 2015 but only 9% of total number of claims. This is over double the amount paid for vehicle repairs which stood at 22% of total claim payments.”
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