With the new Claims Dashboard (part of the Powerful Analytics package), you can find all the important elements of analysis of claims on one page: most common causes, costs & accidents per driver, insurance quota monitoring and accurate cost analysis of all claims are now more visual.
The damage dashboard can be found in the menu function on the left under "Reports".
- Number of claims over a period of time, type of damage and accident
First, you will see the number of claims for the selected period (top right). You can change the current trend to the one of the previous time frame, e.g. compare it with last year and determine if the frequency of accidents is increasing or decreasing.
In the next section, you will see which type of damage (full insurance, partial coverage, liability, third party debt etc.) and which type of accident (eg collision with vehicle) occurred most frequently. The breakdown by type of damage and accident allows fleet managers to quickly get an overview of what types of damage are most damaging to their fleets and thus give them the opportunity to counteract them.
- Vehicles involved
This area shows the fleet manager which vehicle types (cars, trucks, etc.) are most frequently involved in damage and therefore makes it easier for him to concentrate on finding a solution in certain cases.
- Drivers involved
This section lists the drivers involved in the claim and allows a fleet manager to dive deep into each driver's claims list to identify ways to prevent future problems. Click on the respective driver to see more details about the damage and costs.
- Total costs
This section shows all the costs associated with claims, including insurance premiums, so that you have a complete overview of how much the "protection against damage" costs your business.
- Damage rate
In the last area you can see the damage rate. The loss ratio is the ratio of claims expenditures (for example, repair costs) to the insurance premiums paid each year. A high loss ratio (> 70%) can lead to a significant increase in insurance premiums in the following year. This chart helps you to avoid an increase in the insurance premium through early monitoring.
Here you can find more valuable information about the damage ratio report:Loss ratios report