WNS Partners with By Miles for the World’s First Connected Car Insurance

Rhea-AI Summary

WNS Assistance, a leading UK claims management provider, has partnered with By Miles, an insurtech startup, to offer innovative connected car insurance policies. This unique offering uses real-time vehicle data to manage pay-by-mile policies, aimed at drivers covering under 7,000 miles annually. WNS will provide 24/7 claims management to enhance customer experience, accelerate claims lodgements, and reduce costs. The collaboration highlights WNS's commitment to innovation in the evolving insurance industry, with significant implications for customer safety and claims efficiency.

Positive

• Partnership with By Miles enhances WNS's insurance offerings.
• Introduction of innovative connected car insurance policy.
• 24/7 claims management improves customer experience and safety.
• Potential reduction in claims costs and fraudulent claims.

Negative

• None.

WNS Assistance, a part of the WNS insurance offering and one of the UK’s leading providers of end-to-end claims management solutions, today announced a new partnership with By Miles, an insurtech startup and motor Managing General Agent (MGA), to manage claims for a first-of-its-kind connected car insurance policy using the real-time data of the vehicle.

WNS Assistance will deliver 24x7 claims management solutions for the company’s pay-by-mile policies, an innovative car insurance offering for drivers of connected cars who cover under 7,000 miles a year. This offering combines cutting-edge technology with a mobile app and uses actual mileage data directly from the vehicle’s mileometer to calculate monthly premiums.

“The insurance industry is going through a metamorphosis across the globe. WNS is proud to be part of this dramatic evolution, and is constantly innovating to deliver solutions that help our clients disrupt the competitive landscape and offer exceptional experiences to customers. This partnership with By Miles for the world’s first connected car insurance is an excellent example of our capability,” said Keshav R. Murugesh, Group CEO, WNS.

The WNS Assistance claims solution also places a priority on driver safety and vehicle security. It links customers with a 24/7 First Notice of Loss (FNOL) team and dedicated claims managers to proactively make contact and to alert emergency services when required. WNS initiates several immediate solutions depending upon the scenario, including the arrangement of rapid response services to severe accidents.

This unique solution helps accelerate claims lodgements, decrease indemnification costs , and reduce fraudulent and exaggerated claims, providing customers with effortless and user-friendly service.

About By Miles
By Miles is a UK company that provides pay-as-you-drive car insurance aimed at those who drive fewer than 7,000 miles a year. The company launched its first pay-by-mile policies in July 2018, using a plug-in device called a Miles Tracker to count mileage, and has now sold over 30,000 policies. The company recently launched its new policy for Tesla cars that goes one step further, collecting mileage data directly from the car over the internet, without the need for any additional device or software.

Drivers pay an upfront sum to cover their car while it’s parked and are then billed at the end of each month for the miles they drive. This offers many drivers the opportunity to cut their bills if they mostly use their cars for regular short trips or at weekends.

By Miles policies are fully comprehensive, underwritten by a panel of insurers including Zurich Insurance plc and Mulsanne Insurance Limited, and as of 30th January 2021 were rated 4.7 out of 5 stars on Trustpilot. By Miles is authorized and regulated by the Financial Conduct Authority and has been voted ‘Car Insurance Provider of the Year’ two years in a row at the Insurance Choice Awards 2019 and 2020.

For further information on By Miles, please contact: hello@bymiles.co.uk

About WNS Assistance
WNS Assistance is one of the leading providers of end-to-end claims management solutions to clients across the UK – from MGAs and blue-chip insurers to a range of fleets and broker businesses. It currently manages over 100,000 claims per annum across property, motor and legal underpinned by a responsive, flexible and fully transparent process to result in reduced indemnity spend and outstanding customer experience. For more information please visit www.wnsa.com/

About WNS
WNS (Holdings) Limited (NYSE: WNS) is a leading Business Process Management (BPM) company. WNS combines deep industry knowledge with technology, analytics and process expertise to co-create innovative, digitally led transformational solutions with over 375 clients across various industries. WNS delivers an entire spectrum of BPM solutions including industry-specific offerings, customer interaction services, finance and accounting, human resources, procurement, and research and analytics to re-imagine the digital future of businesses. As of December 31, 2020, WNS had 42,830 professionals across 60 delivery centers worldwide including facilities in Australia, China, Costa Rica, India, the Philippines, Poland, Romania, South Africa, Spain, Sri Lanka, Turkey, the United Kingdom, and the United States. For more information, visit www.wns.com.

Safe Harbor Provision
This document includes information which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events. Factors that could cause actual results to differ materially from those expressed or implied are discussed in our most recent Form 20-F and other filings with the Securities and Exchange Commission. WNS undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210215005130/en/

FAQ

What is the partnership between WNS and By Miles about?

WNS Assistance has partnered with By Miles to manage claims for a connected car insurance policy using real-time vehicle data.

How does the connected car insurance policy work?

The policy uses actual mileage data from the vehicle to calculate monthly premiums for those driving less than 7,000 miles a year.

What services does WNS Assistance provide for the new insurance policy?

WNS Assistance will offer 24/7 claims management services to ensure a seamless customer experience.

What benefits does the new insurance offering provide to customers?

It accelerates claims lodgements, decreases indemnification costs, and aims to reduce fraudulent claims.

When was the partnership between WNS and By Miles announced?

The partnership was announced in a press release dated February 15, 2021.