Verisk announces European collaboration with GT Motive to expedite motor damage claims

• Solution will integrate Verisk AI-powered Intelligent Vehicle Inspection (IVI) solution with GT Estimate vehicle claims calculator
• Solution to be rolled out to UK and European insurance markets
  

LONDON, March 16, 2022 (GLOBE NEWSWIRE) --  Verisk (Nasdaq:VRSK), a leading global data analytics provider, has today announced a new collaboration to integrate its IVI motor repair pricing and triaging solution with the GT Estimate claims calculator from GT Motive, a provider of repair data in the automotive, insurance and fleet sectors. The new integration will be rolled out across the UK and the wider European market to help enhance digital collaboration and expedite speed and accuracy during the motor damage claims process.

The integration is designed to allow for the GT Estimate calculation module to be accessed directly from within the Verisk IVI application to help provide a rapid assessment of both potential total loss and initial calculation of repair costs. This can help greatly improve workflows to increase the speed at which a decision on a claim can be made, while also minimising manual input required by claims experts and assessors.

"This combination of GT Motive and Verisk IVI is great news for claims experts in the UK and Germany, and in the wider European insurance market, bringing powerful new capabilities to support motor claims,” comments Andreas Bleschkowski, Executive Director GT Motive Deutschland (GSA). "Our solutions are accurate, fast, cost-effective and future-proof, and this latest development will provide real process optimisation for claims management.”

GT Estimate provides a powerful cloud-based solution for claims professionals to conduct appraisals and repair estimates on motor claims. The solution allows for access to manufacturer data such as Vehicle Identification Number (VIN), Advanced Driver Assistance Systems (ADAS) and Service-Maintenance-Repair (SMR) information, all available with an intuitive, user-friendly platform. IVI from Verisk complements this with automated triaging of motor damage claims into repair or total-loss workflows, using artificial intelligence (AI) and advanced image recognition technologies.

"The new integration with GT Estimate can help provide a marked improvement to initial repair cost estimation and aid expert decision-making – saving time and eliminating errors,” says Matt Thorby, Verisk Head of Motor, EU Claims. "The integration is a significant milestone for Verisk in Britain and mainland Europe, and we look forward to exploring how to further strengthen this collaboration to support the European insurance market.”

About Verisk
Verisk (Nasdaq:VRSK) provides predictive analytics and decision-support solutions to customers in the insurance, energy and specialised markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social, and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook, and YouTube.

About GT Motive

GT Motive, backed by Allianz X as a major shareholder, is an international company dedicated to developing software solutions for estimating and managing claims, as well as maintenance and mechanical breakdowns for the automotive industry. Our estimating tools provide the technology in more than 28 countries to achieve the best results and restore normality after a vehicle accident or mechanical breakdown.

For more information, please visit: gtmotive.co.uk