Historically, insurers have recovered outlay through a manual process; with heavy reliance on post, email and phone calls to the at-fault party. These antiquated processes have led to frictional relationships between insurers, needless operational overheads, drawn out settlement periods and unnecessary litigation. This has created a negative experience for customers who have to wait for updates.
With the launch of Quantex, Audatex can address these issues by providing a seamless, digital platform for insurance companies to talk to and settle claims with one another. It will increase efficiency and transparency, reduce claim lifecycles and provide greater certainty on recoveries and reserving. The leading edge portal also offers a matching platform that automatically matches claims between insurers, including liability and indemnity positions.
By removing the requirement to manually process straight-forward claims, it allows experienced handlers to focus on complex cases where the true benefits of their expertise can be realised, ensuring efficient claim resolution.
Quantex will join Audatex’s portfolio of data-driven solutions that use secure API integration to cross pollinate. AudaEnterpriseGold, the market-leading repair estimating tool, will be the source of the data flow into the heart of Quantex; to provide added value to insurers. This system takes inspiration from industry renowned credit hire platform – CHOX.
Martin Milliner, GI Claims Director at LV=, said: “The Quantex tool has the potential to revolutionise the way we communicate with other insurers during the claims process. It’s a well-known fact that the current system is outdated, and involves a lot of back-and-forth with various providers to gather the correct information. We pride ourselves on our high levels of customer satisfaction and hope that Quantex can ultimately help us deliver an even better service to our policyholders.”
Elliot Roberts, Product Management Director at Audatex, said “We are thrilled to have launched Quantex to move the industry forward. I am really looking forward to seeing the result of wider use of Quantex, this software will reach its full potential when the whole industry is working this way.”
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