The research also found that when vehicle repairs are needed, most drivers will not accept slower turnaround times from their insurance provider simply because their car is more complex to repair. The findings highlight a claims data quality challenge for insurance providers and their repair partners at First Notification of Loss (FNOL), with potential implications for insurance claims efficiency, cost and consumer trust.
Key findings
Only 30% of drivers are very confident about what contact and insurance information to exchange after a collision
Young drivers are the least confident about exchanging accurate details after an accident
53% are unwilling to accept longer vehicle repair times as cars become more complex
The nationwide survey found that only 30% of motorists are confident they know exactly what contact and insurance information to exchange with another driver after an accident. This means seven in 10 drivers either lack full confidence in their ability to exchange the necessary information or believe the stress of the situation could affect their ability to take or provide the right information. Drivers 18 to 24 are the least confident about exchanging accurate details at the scene, while those 65 and over report the highest confidence.
The research also shows limited tolerance for vehicle repair delays caused by increasing vehicle complexity. Just 13% of drivers say they are completely comfortable with longer repair times if modern vehicle technology results in those delays, while 53% are unwilling to accept such delays as an inevitable consequence of more complex vehicles. Drivers 25 to 44 are the least tolerant of repair delays linked to vehicle complexity.
Carla McDonald, director of product management at LexisNexis Risk Solutions, said: “Our survey shows why third-party contact and insurance details can be missing or incorrect at FNOL, which can slow the insurance claim and add costs. At the same time, most motorists expect quick repairs, despite recognising that advances in vehicle technology and parts shortages can make repairs more complex.
“These are exactly the challenges the claims intelligence solutions from LexisNexis Risk Solutions are designed to address, helping insurance claims teams deliver a more streamlined claims experience while improving their own operational efficiency. A collision is a stressful situation, so using validated data to ease pressure on customers straight after an accident is an important step forward.”
LexisNexis® Claims Datafill provides contact details and information on claimants or other involved parties during FNOL and triage, helping to pre-populate and validate key third-party information for faster, more accurate insurance claims handling and a smoother customer experience.
LexisNexis Risk Solutions also provides vehicle intelligence to insurance providers and repairers to support faster, more accurate repair decisions earlier in the motor insurance claims process. For example, LexisNexis® Windscreen Check and LexisNexis® Vehicle Insights for Claims deliver real-time vehicle information at FNOL and triage, including make, model, mileage, MOT status and valuation data. Access to accurate vehicle-specific information earlier in the claim can help insurance providers and repair partners identify the vehicle involved, understand relevant vehicle characteristics and make better-informed decisions as modern vehicle technology makes some repairs more complex.
Carla McDonald concludes: “By bringing richer, more connected data, from third-party insurance details to vehicle intelligence, into the motor insurance claims journey earlier, we can help insurance providers and their partners make better-informed decisions from the outset, reduce rework and get claims right the first time.”
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