Road accidents are a sore issue with inflexible demand. if we pepper the dish with insurance regulatory bureaucracy and get endless nightmare, trauma, waste of time and money.
We point out THREE PROBLEMS in the entire process, starting from the accident site while (1) exchange of information between the sides, to the (2) filing of the claim itself- it is tedious, wasteful and anti-technological. In addition, while analyzing the market trends, we can see a (3) continuous decline in the profitability of insurance companies, through lower premiums and reforms.
Formit App will answer and solve the three critical failures mentioned above:
Solution #1 refers to the exchange of information- can be done instantly at the accident site for full and genuine info, or in other free time after unwinding the size of the event and its consequences, at home.
Solution #2 refers to the claim itself. In order to fill in an insurance claim, we need the info from our vehicle insurance, driver's license and vehicle license. Nowadays, we already use our smartphone to photograph the event and the other driver info. Our advanced OCR Algorithm detects the relevant words from the photos taken (or received afterwards) and then places them on a digital insurance claim form designated to the driver’s insurance company or leasing fleet.
Solution #3 refers to the “old-economy” behemoths and their yearly profit line. Filing insurance claims effectively, will lead to massive bureaucratic savings, which will be reflected in their operating expenses section.
FormIT solution meets all the needs above, with no strings attached to any Regulations nor to the firms themselves and with high applicability in the international markets.