A fleet video management firm claimed it had developed an AI system that lowered insurance premiums and delivered significant savings to operators.
MANTIS said its Collision Insights feature within its Recon platform was “the fix” companies wanted from their camera investments.
It said the technology would dramatically speed up accident claims processing, prove fault with AI-driven certainty and improve what it described as the one metric that mattered most to insurers: the loss ratio.
MANTIS said improving this ratio – which is the total cost of claims divided by the total premium paid – would result in tangible savings.
The company said Collision Insights did this by treating the cameras as a core operational tool and not just a recording device.
It provides a ‘first notification of loss’ collision reconstruction report that pulled together data from telematics, GPS, G-force events and multi-camera systems.
It said this generated a comprehensive reconstruction of any incident, which could be shared with an insurance provider.
MANTIS said this data-driven approach lowered claims costs in three ways: by being able to dispute non-fault and fraudulent claims successfully; by speeding up claims resolution to control costs and by reducing own-fault collisions, by identifying high-risk driver behaviours.
And it added that this was resulting in a 32% increase in third party data capture, a 25% reduction in operational costs and an 18% drop in legal costs.
Harry Girvan, MANTIS CEO, said: “With Collision Insights, we are giving fleets the power to prove what really happened, quickly and irrefutably.
“Many of our customers were frustrated that their previous camera systems weren’t delivering savings. This is the fix.
“It’s about accelerating claims resolution and providing our customers with a belt-and-braces risk strategy that directly manages their loss ratio, leading to tangible savings and operational certainty.”
