We are delighted to announce that Audatex’s Quantex has won the ‘Claims Initiative of the Year – Service Provider’ category at this year’s Insurance Times Claims Excellence Awards. These awards are very much seen as the Oscars of the UK insurance industry, so this is a huge accolade and stamp of approval for our new subrogation portal.
“We are extremely proud to receive this award and it provides fantastic recognition and validation for the hard work the team has done, and the impact we are making as an organisation,” said David Shepherd, our Regional Managing Director, on hearing the news. “It also serves as a fantastic boost as we continue our efforts in taking a leading role in driving the digital evolution forward across the UK industry, and beyond.”
The annual Insurance Times Claims Excellence Awards are designed to reward outstanding customer service across the claims process, as well as companies that are innovating and disrupting the insurance sector for the better.
Quantex was created in order to address widespread issues in the insurance industry. It provides a seamless, data-driven, digital platform for insurers to effectively settle subrogated claims by intuitively matching claims between insurers, which includes automatic acceptance of liability and indemnity. It dramatically reduces cycle time, providing a better experience for policyholders when dealing with insurers, thereby improving customer retention for our insurer customers.
LV= provided a glowing testimonial as part of our award entry, which helped the judges to acknowledge the benefits it is bringing to the industry, particularly in reducing litigation costs and frequency, as well as frictional costs between insurers.
Elliot Roberts, product management director at Audatex, commented: “We are constantly striving to find new ways to solve the issues and challenges faced by the insurance industry, and Quantex is a shining example of that. We are thrilled to have picked up this award.”
“Quantex addresses an issue that has been persistent for the industry for almost ten years,” added Shepherd. “The feedback we have received from customers who are using it has been extremely positive and we look forward to working with others in continuing to make further improvements. It’s another example of our goal to keep innovating and developing digital solutions that bring tangible benefits across the whole claims lifecycle.”
Audatex would also like to extend its congratulations to Covéa Insurance for picking up the ‘Claims Technology Initiative of the Year – Insurer’ category award at the ceremony last night. It has been a pleasure working and collaborating with such a prestigious insurer, and we are delighted that our FNOL Repair Allocation Manager (RAM) product played a part in that award-winning result.