ServicePower Technologies Plc., the field service management technology solutions provider, has signed a strategic partnership with Concirrus, provider of Internet of Things (IoT) and M2M (machine to machine) services, applications, sensors and monitoring. Real time M2M and IoT analytics delivered by Concirrus, together with ServicePower's optimised scheduling of insurance employees informed by enterprise mobility, will enable faster, more accurate and cost efficient claims management; this in turn will help insurers significantly improve customer services and achieve competitive advantage.
The partnership creates the first-to-market cloud-based IoT and service management solution for the insurance sector. M2M data will be harvested by the Concirrus IoT platform from sensors in insured items which will be used to instantly analyse and report back on potential claims. Connected to ServicePower's field service management platform, this information can then be applied by ServicePower to automatically optimise and schedule appointments – sending the right adjusters, to the right place, at the right time. At the same time they will be sent the Concirrus IoT report and related tasks or forms to their connected mobile device so they have accurate details from which to make better informed decisions.
Working together the combination of live IoT data delivered by Concirrus and the rapid mobilisation of employees deployed by ServicePower, will enable insurance companies to deliver a much faster and more accurate response to customers while also reducing costs.
"This partnership is a step-change for the sector," said Marne Martin, CEO, ServicePower. "The Concirrus IoT platform removes a lot of guess work for adjusters. Sensors placed in machines record actual events such as the speed of a car crash, travel of direction, location and even weather conditions. Additionally it is a totally cloud-based solution which removes the complexity of IoT delivering it as an intuitive service. Our service management platform can then be used to optimise the handling of the claim. This is incredibly powerful for the insurance industry, not only for individual events but to also analyze trends over time."
The partnership is part of ServicePower's strategy to provide its customers with innovative technology.
"We look to work with the best and ServicePower has a platform that provides businesses with automation, optimisation and visibility across the service value chain," said Andrew Yeoman, Chief Executive Officer at Concirrus. "Our technologies will seamlessly link to deliver an end-to-end solution for businesses. ServicePower can optimise the activities of insurance companies' employees and, through its advanced enterprise mobility, provide reports generated by our platform that predict, for instance, damage to a vehicle, as well as any additional information the field adjuster requires to complete a job."
With the insurance sector being the first area of interest the partners expect to take this offering to the many other field-based businesses that could benefit from this approach.