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A new system in the UK offers to insurance companies with an easy and effective method to reduce their personal property claims by over 80%. With fraudulent insurance claims costing the industry more than £ 20 million a week alone, the savings generated affiliation and by joining forces with companies such as want it Bak are staggering.
As we all know here in the 21st century our lives have become more and more reliant on mobile items. How we spend our days, keeping a mental log of everything we have and where we have become more and more difficult. It is inevitable that some Things get lost. In fact, as stated in a recent research "Around 62,000 mobile phones were left in London taxis over the past six months. This is an average of three phones per taxi, according to a survey of taxi drivers licensed by the London Taxi Newspaper and Pointsec Mobile Technologies. Travelers absent, and drunken also forgot 4,000 laptops and 5,000 PDA's when exiting cabs ". If each item is claimed for an average cost of $ 100, will cost industry over £ 7,000,000 within 6 months just for these three types of items at this location one. Extrapolating this cost in the UK and national costs for the credit industry is impressive.
Lost and found company, Want it Bak boast that they can give people a 80% chance of recovering their lost items. This effectively means a 80% drop in applications for the insurance industry if their customers use this system. In the above scenario more than £ 5 million of credits were not being paid.
As Bak want it to work? Simple. Customers buy or receive a variety of security labels, each with its own number ID. They register them with Want-Bak, and that's it. If you lose the item and someone thinks they want to contact him Bak directly using their website or their 0800 number and they arrange a courier to pick it up and return it to the owner of a small administration fee.
The "Finders" if it offered a basic reward $ 10 gift pack of Want-Bak Labels and £ 5 cash. Customers can also offer an optional reward CASH to Finders as a thank you to the person take the time to contact Bak want it. The system plays on the fact that most people are honest and if they find something and a method is offered to return it to its owner, they will take.
This type of service is a great additional type of insurance that the industry needs to consider. By linking systems on clients, I like that it can help Bak to reduce premium costs, reduce fraudulent claims, reduce claims in general, offer incentives to attract more customers, improve the image of the consumer business, offering complete protection and solution to all problems faced every day.
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