A leading truck insurance firm providing physical damage and non-trucking liability insurance turns to g-tech for accurate address validation, customer mapping capabilities and geolocational information for managing claims
1st Guard is a leading specialty truck insurance firm based out of Venice, Florida, providing physical damage and than 15,000 vehicles, the company needed an efficient way to streamline operations, reduce amounts of returned mail and provide excelnon-trucking liability insurance to leased owner operators and small fleet owners. With the responsibility of under writing for more than 15,000 vehicles, the company needed an efficient way to streamline operations, reduce amounts of returned mail and provide excellent customer and claims services to policy holders.
With an abundance of returned mail, incomplete address data and no customer mapping capabilities, 1st Guard was looking to improve its use of geolocational data. Also with address-specific postal regulations and coding policies that differ from state-to-state, it required a solution to help identify the appropriate tax jurisdict ion requirements for its policies. With nationwide customers, the company also wanted to enhance its ability to pinpoint address locations for better business decision-making capabilities, and to establish a better process for validating, correcting and standardising customer address data.
In addition, it was taking truck drivers days to complete a claim while out on a job. The company wanted a faster way for truckers to submit an insurance claim from anywhere in the country. “We’re a niche player in the insurance market,” says Dan Ribar, CIO of 1st Guard. “Therefore, we required an innovative solution that would address our needs and be easy to manage, along with a partnership to help lead the way from a technology standpoint.”
As a result, 1st Guard turned to Pitney Bowes Software’s Spectrum OnDemand software- as-a-service solution to provide accurate address validation, customer mapping capabilities and geolocational information for managing claims.
Using Spectrum, 1st Guard is able to validate addresses for policies and make precise tax jurisdiction calculations. With geocoding capabilities, it can match the exact physical location of an address and provide latitude and longitude coordinates. The company can also use latitude and longitude information to find the best possible address match for that location.
A screen shot of 1st Guard”s Instant Quote application for truckers
In addition, Pitney Bowes Software’s Spectrum is a crucial component in the claims portion of 1st Guard’s revolutionary Trucker1 iPhone application, helping to improve the speed of claims. If a driver gets into an accident, the application allows them to identify which truck they’re driving, take pictures of the damage, and record a statement. The claim is then sent directly to the adjuster to begin the appropriate paperwork. A process that used to take days, now takes 60 seconds, thanks to location valida- tion in part powered by Spectrum.
“Spectrum has become a supporting service that we use across the company for any address validation or geocoding specific issue,” says Ribar. “The ease of integration and the service has been exceptional, making Pitney Bowes Software a pleasure to work with. The service is always up and running and we don’t worry about it.”
Results & benefits
After using Pitney Bowes Software’s Spectrum OnDemand, 1st Guard gained the following benefits:
- Reduce the amount of returned mail using accurate address standardization, correction and validation.
- Provide precise tax jurisdiction informat ion for all policies to ensure compliance.
- Pinpoint the location of current and potential customers within a certain radius using geocoding and reverse geocoding, to capitalise on potential business opportunities.
- Enhance 1st Guard’s ability to field and process an insurance claim from drivers any where in the country.
- Increase the driver’s ability to access his coverage information and process claim information within 60 seconds, regardless of the time or the location of the incident.