By SHAHEERA AZNAM SHAH / Pic By ISMAIL CHE RUS
Dagang NeXchange Bhd (DNeX) will invest RM2 million in the collaboration with Audatex Malaysia Sdn Bhd to create a comprehensive database for automotive insurance repair.
DNeX, through its wholly owned subsidiary, Dagang Net Technologies Sdn Bhd has partnered Audatex Malaysia to offer a database on motor parts, prices and repair time. The database is expected to be launched in the first quarter of next year.
DNeX executive deputy chairman Datuk Samsul Husin (picture) said DNeX’s investment will focus on localising the system to the local market and integrating local insurance providers.
“The collaborative effort between Dagang Net and Audatex, which is a global provider of collision repair estimating and claims solution, symbolises our presence in the automotive insurance industry.
“This will be an expansion of our existing e-services offerings into vehicle and transportation clearance management cluster,” he said at the signing ceremony of a memorandum of understanding in Kuala Lum- pur yesterday.
Through the partnership, DNeX and Audatex will set up a computerised repair estimating system and vehicle identification number that will assist vehicle owners in assessing the damages upon accidents.
The database system is aimed to allow transparency and efficiency to the claims process through an accurate collision damage evaluation and swift insurance claims handling.
Samsul added that DNeX and Audatex are expected to capture 20% of the total vehicle accidents in Malaysia.
“According to the General Insurance Association of Malaysia (PIAM), there are about 500,000 claims of accident cases in a year and we hope to capture 20% of this market.
“As the database system will be digitally inclined, the cost of damage assessment will be 20% less expensive compared to the current service in the market,” he said.
The database system will be available at automotive body repair services, car distributors and motor insurance providers and will be priced according to each damage assessment request.
Audatex APAC MD Sdn Bhd Brian Seldess said the collaboration with a local partner allows Audatex to meet the standard requirement of Malaysian market, the regulators and policy makers.
“We have been in Malaysia for about four years now developing the modules and understanding the market while working with motor insurance companies to start integrating our solutions into their work-flow,” he said.
According to PIAM, the total motor insurance claims paid out by the industry were worth RM5.38 billion in 2017.
In an earlier report, PIAM noted that the insurers paid about RM14.7 million daily for motor claims on property damage, bodily injury and vehicle theft as the motor insurance claims went up 7% in 2017 from 5% in 2016.
In 2017, there were 6,740 fatality cases registered caused by traffic accidents in Malaysia compared to 7,152 reported in 2016.