Rightindem featured as Oxbow Partner’s Bitesize Insurtech

Posted by

As a followup to an earlier article this year, we have had some further coverage with Oxbow Parters who have re-evaluated our market positioning and provided some of their views on ourselves:

The full article is available at http://www.oxbowpartners.co.uk/bitesize-insurtech-rightindem-update/

RightIndem is digitising and automating the motor claims process to provide customers with a better experience and insurers with better data and lower costs.

RightIndem was one of Startup Bootcamp’s 2016 graduates. It was founded in January 2016 by David Stubbs, a motor insurance claims specialist, and Graham Blaney, an IT and outsourcing expert.

The company offers multiple product modules, from electronic notification of loss (“ENOL”) to repairs and settlement. It is increasingly moving into the analytics space, running algorithms on its data to validate claims. This should allow insurers to pay small claims automatically in the future – as David puts it, insurers can go from “from legacy to Lemonade in under three months”. (Lemonade famously advertise that they hold a world record for the time taken to pay a claim.)

Another interesting enhancement is a module built for emerging markets, where fraud tends to be weighted more to the supply chain rather than application or claims processes compared to developed markets. RightIndem are building a claims auction process, where suppliers can bid on individual repairs, thereby cutting out inflated costs from tied repairer networks.

David notes that indemnity spend for partners is “down 10% depending on the vertical”. The business is now in motor, marine cargo and building propositions in multiple other verticals (e.g. health, workers comp).

RightIndem have had a strong first couple of years. The company has just signed an implementation contract with an undisclosed UK motor insurer and completed POCs with multiple insurers in Germany and the US. Their progress has not gone unnoticed, with the business winning the 2017 ‘Insurance Times Best Use of Technology for Customer Experience – Claims’ award and a place at ‘Plug and Play InsurTech Accelerator’ in Silicon Valley.


In our note of January 2017 we said that RightIndem had to prove that claims digitisation could “go mainstream”. We noted that many industry practitioners believe that claims are either too complex or too emotional to be automated.

We believe that this hypothesis is gradually being proven. RightIndem is making progress; we see full implementations as critical proof-points because they imply that at least one informed buyer has had full sight of the proposition (in a POC) and is convinced that it can add value to their business. In addition, other insurers are making progress with claims automation – Lemonade being the best example with its “AI Jim” claims handling bot. We always believed that this side of the argument would prevail.

We now think that attention should shift to the economics that result from improved claims processes. In our recent note on Lemonade (15 September) we said we worry about claims fraud (and therefore profitability) with all InsurTechs who make a big deal about their claims service. RightIndem is different as the business does not force insurers to go to automated, sub three second claims to achieve a marketing objective. Instead, the software gives insurers a tool to take greater control of their process. Nonetheless, we will be interested to observe how the ease of claim vs. indemnity spend dynamic develops for its clients.

Rightindem win Insurance Times Award

Posted by

Rightindem recently attended the Insurance Times Tech and Innovation Awards, where we won ‘Best use of technology for customer experience – claims’ award. It’s a real honour to be recognised at the forefront of the insurtech revolution, and it’s a culmination of 2 years hard work improving the product and the business, building out our incredibly talented software team and working with insurers on a number of pilots.

‘What we really appreciated hearing was recognition from the insurers on the night that great service was not just a ‘good’ in itself, it could also be a gateway to cost savings’ – David Stubbs, CEO.

Thanks to Insurance Times for hosting such a wonderful evening, see you again next year!!

14 UK Insurtech Startups to Watch – Featured by Techworld and Scyllogis

Posted by

RightIndem have been recognised as one of the most innovative startups in the UK.

A recent research from London accelerator Startupbootcamp Insurtech and PwC, based on more than 1,300 startups across the world, shows that 75% of insurers believe that the biggest impact to the industry will come from addressing the changing needs of the customer.

RightIndem is making the claims process easier by giving customers control of the claim, RightIndem provides customers with a self-service platform that enables claims to be managed online and in doing so deliver a claims process that is 5x faster than an insurers normal process.

If you wish to read the full article and check who are the other 13 startups, click on the following link: http://www.techworld.com/picture-gallery/startups/11-uk-insurtech-startups-watch-3645315/

Introducing RI Total Loss v2

Posted by

We’re pleased to introduce version 2 of our Total Loss module.

Version 2 introduces a brand new user interface that centralises claim information, enhances the vehicle condition selection process, improves claim completion time and offers many performance and functionality improvements for our users.

Startup of the Week – Featured by Oxbow Partners

Posted by

Oxbow partners

This week we have been recognised and featured as Oxbow Partner’s Startup of the Week. Oxbow Partners are an advisory firm for the insurance industry, covering digital strategy. The full article is available below:

RightIndem is digitising and automating the motor claims process to provide customers with a better experience and insurers with better data and lower operating costs.

RightIndem is one of Startup Bootcamp’s 2016 graduates. It was founded in January 2016 by David Stubbs, a motor insurance claims specialist, and Graham Blaney, an IT and outsourcing expert.

The company currently offers 7 product modules, from electronic notification of loss (“ENOL”) to repairs and settlement. According to Graham, “putting the customer at the heart of the claim” has been central to the company’s design philosophy, allowing the claimant to control the pace of the process and channel of engagement, eliminating wasted time on the phone. Insurers retain control over the customer experience with the ability to tailor the software to their own branding and informational needs.

RightIndem have had a strong first year. The company has completed pilots with a number of UK and European motor insurers with further trials agreed. Evidence thus far is encouraging: their average total loss claims duration currently stands at 2 days 2 hours (vs. a 20-30 day industry norm). Complaints are significantly reduced and customer churn resulting from the claims process is down 50%. Longer term the company is looking to expand beyond motor insurance and they are already working with a number of clients in other product lines.


The big strategic proof that RightIndem needs to demonstrate is that digitisation of claims can go mainstream. Many in the industry argue that claims are too complex to digitise to any great extent, whilst others suggest that the emotion of a claim means that consumers will always want human-to-human interaction.

Our experience is that most claims can be digitised. Apart from RightIndem’s data, we would point to Dutch insurer InShared’s claim to automate up to three quarters of claims and, perhaps, Lemonade’s recent claim to have paid (a very simple) claim in 3 minutes. Customers are getting increasingly happy to make large and complex transactions through digital means e.g. buying Tesla cars online without visiting a showroom, and digital propositions ever better

Oxbow Partners is currently working with a large UK insurer to reinvent their claims process. There’s no doubt that niche technologies like RightIndem will play a role in helping insurers move their customer experiences forward.

If you wish to visit the article then follow this link: http://www.oxbowpartners.co.uk/startup-of-the-week-rightindem/ 

If you wish to visit their website then click here: http://www.oxbowpartners.co.uk/#home

The Rise of Digital Data in Insurance Risk Profiling

Posted by


Unless you’ve had your head in a hole, you will have heard about Admiral’s plan to use social data from Facebook. ‘Firstcarquote’ planned to analyse the Facebook posts of first-time car owners, looking for evidence that they’re the kind of well-organised, conscientious drivers who will be safe on our roads.

Facebook blocked Admirals plans at the 11th hour, citing it was their upmost priority to protect the privacy of the people on their site. Facebook privacy has long been one of Zuckerberg’s main concerns, and Facebook’s platform policy states that the site’s data should not be used to “make decisions about eligibility, including whether to approve or reject an application or how much interest to charge on a loan”.

Having access to social and digital data would be of great assistance to insurance companies like Admiral, allowing them to offer tailored discounts to high-risk segments that opt-in to extra data gathering.



This raises an interesting question:

“Would giving up our digital data improve insurance risk profiling algorithms, and if so would we, the British public, hand this over in exchange for a discounted premium?”

In the case of Admiral, they were looking to reduce risk in one the riskiest customer segments to insure. In 2012, a fifth of people killed and seriously injured (KSI) on the roads were involved in a collision where at least one of the vehicles was a car being driven by a young driver.

We as customers live in an increasingly transparent world, where data privacy is becoming harder and harder. However, as customers we are becoming acutely aware just how much personal data companies are now storing. From my perspective it feels like sentiment in younger generations is slowly changing towards an acceptance of greater data transparency.

I feel that many customers will allow companies to hold personal data, but there must be a fair value exchange to make it worth the customer’s while – up to £350 off Admiral customer’s premiums in Admirals case.

There must be a fair value exchange…

 The Internet of Things and Telematics are powerful tools, that will gather many GB’s of our personal data in years to come.

In other insurance segments this practice is becoming more prevalent: For example, Vitality is currently selling the Apple Watch to health and life insurance customers, with the final price dependent on how much exercise customers do while owning the watch. Newspapers like the Guardian are publishing opinion articles titled : Internet of things: the greatest mass surveillance infrastructure ever?, highlighting the increasing concern that big data will directly influence our privacy.

Is big business now big brother?

Simon Morrissey, head of data and privacy at law firm Lewis Silkin, said: “This is the tip of a very large iceberg that consumers and businesses are increasingly going to encounter. The challenge with these sorts of solutions is that users may find it increasingly difficult to avoid opting in as the financial disadvantage in doing so becomes so significant that users have no other option but to hand over access to their data.”

Over the coming years, all insurers will seek to gain as much data as possible on their customers to help them better profile and target a more personalised service.  The problem is, the customers who wish to keep their privacy may end up losing out and paying a higher premium, as the need for data switches from a nice-to-have to a must-have.

In this recent case, Admiral agreed a compromise, where they would give all customers who opt into ‘Firstcarquote’ a discount, without learning anything about them from their Facebook profile.

I have only scratched the surface of this interesting predicament, please comment and share your experiences with us on twitter: https://twitter.com/RightIndem




Event review: Vizion Ignite 2016

Posted by


This week we went to Vizeon Ignite Conference in Castle Donington. This is predominantly a vehicle repair based conference that enabled us to network with many vehicle repair bodyshops and insurers. It was great to meet familiar faces, and be introduced to new contacts.


Many guest speakers were present – my particular highlight was to hear from Quentin Wilson, ex-top gear who talked about the future of the industry and the automation of transport.

Guidewire also had a good presentation, highlighting the need for customer-centric claims services! Well – we’re here and we’re piloting with insurers right now!


We had a special competition – for a trackday experience with a McLaren 12C! Congratulations to Andy Beswick, from Northern Accident Repair who was the lucky winner!!!


Thanks for having us Vizion, we look forward to next year!

Bits and Pretzels 2016: The Founders Festival

Posted by

Last week we attended the Bits and Pretzels IT conference in Munich with Allianz. It was truly one of the most entertaining IT conferences our team had ever been to – a beer hall the size of a football pitch does tend to help!


Dave sat on a panel talking InsurTech with some great insurance leaders. We met some great businesses and heard from many interesting speakers (dressed in lederhosen!).


Pictured above.

  • Christof Mascher – COO, Allianz Group
  • Olaf Acker – Parter, PWC
  • Solmaz Altin – CDO, Allianz
  • Christopher Oster – CEO, Clark
  • Annette Leonard-Macdonald – CEO, LMD Ventures.

We’ve got a whirlwind programme over the next few weeks and will be reporting back from San Francisco and Las Vegas later this week.

Thanks for having us Munich!




Cool In-Car Tech 2016 Roundup

Posted by

1. Nextbase DUO


RRP: £199
Available from: £184

The Nextbase DUO is certainly a great tool for careful motorists. It has 2 cameras, one to capture the traditional forward facing view in 720p, and rearward facing camera captures everything at the ……. Rear.

Reviewers praise the units ease of use and robustness. It is especially useful in the ‘crash for cash’ scenario. If you are rear-ended, the fraudsters won’t have any legal standing.


Why insurers reject car cover claims

Posted by

According to Which, 5% of all car insurance claims are rejected – usually because the claimant has breached the terms and conditions of the insurance policy. As a claimant, having to make a claim on your car cover can be immensely frustrating due to the hassle and time-sapping activity of taking phonecalls and reading official letters. It can also prove potentially costly as you might lose your no claims bonus. During this process, the last thing you would want is to be rejected due to a breach of contract.