How Old Mutual Insure digitally transformed its recoveries and liabilities claim settlement process

Old Mutual Insure (OMI) is South Africa’s oldest insurance company. With a history that dates back more than 180 years, OMI has always adapted to the constantly shifting needs and challenges of their customers. Amongst many other services, and part of their renowned short-term insurance solutions, OMI provides affordable car insurance for many of their life-long customers.

Old Mutual has always been justifiably proud of its tradition of offering excellent service and quality. Customers should always have a positive claims experience with a quick and easy process. Before partnering up with Fixico, however, settling car damage was mostly dependent on manual activities, outsourcing to an external damage assessment company, Third Party Liability (TPL), cash payouts and limited insights. Even if the cheapest quote was selected, OMI couldn’t verify if this was the optimal repair solution for the damage at hand, how the price was determined, if there were any warranty agreements in place, and if the repair would take place at all. If it did, the journey was not tracked, so there was no way of improving it or learning from customer behaviour or network performance.

Old Mutual Insure X Fixico

Fixico and Old Mutual work together to handle car damage repairs for their insured customers (covered claims) and TPL damage claims. Fixico’s end-to-end solution has become an integral part of OMI’s claim settlement process.

Insightful claim management

As soon as a claim is submitted, Fixico’s intelligent systems and internal damage experts pre-assess the damage and check if the claim contains all the information needed for a body repair shop to create a quote. Next, OMI authorises the claim and uses Fixico’s platform to easily identify which body repair shops are best capable of performing that specific repair. To do this, OMI can look at a wide variety of criteria, such as distance, specialisations, ratings, availability, duration, and price. This way, OMI can base the optimal repair solution on the needs of each individual customer.

Easy data integration

Fixico’s end-to-end solution is fully customisable to meet the needs of our insurance partners and was specifically tailored to OMI’s requirements. Our API (Application Programming Interface) easily integrates with OMI’s existing processes and is fully compliant with all GDPR (and POPIA) regulations to ensure the safety of OMI’s data. In layman’s terms, this means that Fixico’s systems can communicate accurately with OMI’s existing systems so that claims are handled while safeguarding privacy and security.

Quick repair allocation

With the help of our advanced technology, almost every car damage can be assessed fully digitally. Time-consuming physical inspections and detailed cost calculations are no longer always necessary, resulting in significantly shorter claim cycle times and lower costs. The repair is sent to OMI’s network of preferred repairers, and in case the existing network in the area is busy, the company can request a new body repair shop that meets all the required criteria and allocate the repair in just a few clicks.

The results

OMI has optimised cycle times, lowered costs and increased customer satisfaction.

“With Fixico, we can provide all our car damage claims with the optimal repair solution and have full control during the process. As a result, we have lower costs, fewer cash payouts and a much more efficient workflow for everyone involved.”

Mickesh Maharaj, Head of Recoveries, Liabilities & Litigation, Old Mutual Insure

Optimising cycle times
Now that quotes are no longer outsourced, and unnecessary manual activities are eliminated from the process, cycle times have improved drastically. Especially for TPL claims where repair management was previously non-existent, and it fully relied on cash payouts. Since working with Fixico, claims are settled a lot faster, and total cycle times have reduced by 34%.

Lowering costs
Due to the frictionless and coherent repair journey, customers and TPL now often opt to repair their damage instead of requesting a cash payout. This has led to a significant reduction in actual claim payouts of more than €700.000 (14 million R). In addition, because the optimal repair solution is identified, OMI has been able to reduce actual repair costs by 18%.

Increase customer satisfaction
Customers now experience a quick and frictionless repair journey. After each completed repair, Fixico invites them to review the service, thereby monitoring customer satisfaction closely. Overall, customer satisfaction regarding the repair handling process for OMI is at an average 4.4/5.

Get started today

Fixico offers possibilities for companies of any shape and size and can adapt to the needs and requirements of your business. Request a free demo and unlock the potential of digital repair management!