MOUNTAIN VIEW, Calif., Nov. 29, 2016 /PRNewswire/ -- Based on its recent analysis of the market for automating claims processing using insurance telematics, Frost & Sullivan recognizes CalAmp Corp. (NASDAQ: CAMP) with the 2016 North America Frost & Sullivan Award for Product Line Strategy Leadership. CalAmp's proprietary automated First Notice of Loss (aFNOL) and automated First Notice of Injury (aFNOI) applications are transformational technologies which enable insurers and telematics service providers (TSPs) to reduce costs and improve efficiencies associated with underwriting and claims processing.
The CalAmp aFNOL technology focuses on delivering immediate crash notifications and repair estimates of auto physical damage (APD) at the moment of impact. Within the aFNOL family are three applications, each performing a different role in the claims process for APD. First, ICN™ (Instant Crash Notification) is a proven, accurate and highly reliable OEM-grade automatic collision reporting system, recently certified by CESVIMAP. Second, CalAmp offers a deeper analysis of a crash event with an extensive report including claim detail verification, accident reconstruction, and subrogation and forensics assistance. And lastly, a triage tool estimates vehicle damage and predicts cost of repair in near real-time enabling insurers to direct the vehicle to the appropriate repair shop or salvage auction*. The CalAmp aFNOI technology is the counterpart to aFNOL for bodily injury claims that provides insurers with near real-time, predictive estimates of the likelihood of bodily injury to frontal occupants of the insured vehicle*. CalAmp is a global leader with a broad portfolio of web-based telematics applications and devices for insurers, retail automotive, and fleet management. Their best-in-class solutions for aFNOL, aFNOI and usage based insurance (UBI) allow insurers to attract and retain low-risk policyholders, lower fraud, minimize claims losses, and manage claims adjusting costs.