Philippines-based insurer Fortune General Insurance (FGen) urged the country’s insurance and transportation regulators to make dashboard cameras, or dash cams, mandatory for all vehicles to accelerate and simplify processing of claims.
According to FGen, the industry and regulators must harness technological advances in optimising insurance claims processing. The insurer believes the old manual system is full of inefficiencies as well as opportunities for fraud or corruption.
FGen is offering policyholders a 10% discount on their motor insurance premiums if they have dash cams in order to promote the use of the device among motorists, reported
Business Mirror.
“FGen was among the first to offer a discount for motorists with dashcams, but we need to do more for the benefit of our customers,” its president Michael Rellosa said during a general insurance forum hosted by the Philippine Insurers and Reinsurers Association (PIRA) in Manila.
“There’s so much room for extortion with police sketches and police reports; there’s so much room for inefficiency,” said motoring journalist James Deakin, who was a resource speaker at the forum.
More than 200 general insurance industry officials were present at the forum, and they resolved to simplify claims documentation by allowing online submission of dash cam videos and on-site pictures.
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