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idMobile Prexisting damage

We have just completed a national pilot of idMobile. The pilot required that all customers seeking a quote download the idMobile app and use it to capture high quality images of each of the four sides of every vehicle that they were seeking coverage for. The study question was: can idMobile reduce early, prexisting damage claims? The results were quite frankly surprising:

Participation

  • As we expected, the carrier suffered a 30% drop in its customer conversion rate due to more abandoned quotes.  
  • Fully one third of the vehicles on policies written with idMobile images had at least moderate damage in the images taken by customers.
  • That being said, the great majority of customers had no trouble using the app. There were no complaints voiced to the carrier about being required to do so.
Early/Prexisting Claims Results
  • First month claims volume fell by 40% for the policies that required idMobile
  • Claims severity – the mix of claim types – was radically lower in the idMobile cohort.
  • While we can’t cite savings dollars, the results suggest that utilizing a tool like idMobile reduces claims costs far more than the profits generated by fewer policies.


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