AutoClaim Mobile App Acquired by ABT Mining Company to Speed Claims Processing
June 23, 2015
According to the National Highway Traffic Safety Administration (NHTSA) more than 5 million car accidents take place in the United States annually. The toll on the economy is estimated to be around $250 billion, most of which is attributed to the damage the vehicles sustain. With more than 10 accidents taking place every single minute, the auto insurance claim industry has been trying for years to find the most accurate and efficient way to process accidents as soon as they happen. A new mobile app, called AutoClaim, looks to give insurance companies essential information that can expedite the claims process by giving drivers the tools they need to gather critical data right after an accident takes place.
The AutoClaim mobile app was acquired by ABT Mining Co., a diversified holding company, to increase its technology portfolio with an investment that has great potential. The app is a real-time mobile claims documentation and management system, which will be available for free to the more than 200 million drivers in the US.
According to ABT, the app can be used by commercial fleets, municipalities and government agencies as well as individual drivers to accurately document any traffic accident they are involved in.
The app has a UI that guides the user through the different stages of collecting the data sets required by insurance companies for the claims process. The accident management control can be activated with the click of a button or voice command and the user can take the following steps:
- Choose the type of the accident and the system will guide you through the accident documentation process.
- Take photos and videos of your vehicle, other vehicles and accident scene. You can also take witness statements via video or the recorder.
- Injury diagram lets you identify your injuries, passenger injuries and the other drivers and passengers.
- Get the exact location with Geo mapping. You can place images of the vehicles and objects on the map for proper documentation.
- Access local providers
- Get instant access to accident service providers, from towing services, rental agencies to doctors and attorneys.
“Statistics show with more than 10 vehicle accidents every minute and over 90% of the accident victims using a smartphone, the AutoClaim App’s growth opportunity is tremendous. This untapped vertical will continue to grow as ABT will enjoy the first-mover advantage in the Mobile Claims Management business,” said Mr. Shahan Ohanessian, President and CEO of the company.
By providing a guide through a step-by-step checklist when an accident takes place, AutoClaim gives drivers the ability to precisely document what has taken place. In the past most of the information gathered after an accident was based on memory, which more often than not resulted in two very different accounts. Taking a picture, video, location data and injury reports gets rid of any ambiguity, and presents just the facts as they happened.
Edited by Peter Bernstein