Bad drivers watch out. Motor insurers here will be setting up a database to share information about bad drivers who either have poor safety records, or have made inflated or false claims.
This hall of notoriety will help fight increasing insurance premiums on the customers' end and cut back on rising costs, according to a Straits Times report.
The project, codenamed Sherlock Holmes, should take about a year to implement and is estimated to cost a seven-digit sum to set up.
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The new system allows insurers to check up on the driving history of a policyholder without ever leaving their desks.
Insurers can make informed decisions about the kind of customers they want to take on, and increase the price of the premiums of those they have reason to be wary of.
It also means that bad or dishonest drivers can no longer can get away with the claims they have made so easily by simply switching insurers, should their policies be terminated by another.
This will help keep a check on rising motor insurance premiums as, at the present, claims from these motorists represent a cost burden that all motorists, including the good ones, have to share
This hall of notoriety will help fight increasing insurance premiums on the customers' end and cut back on rising costs, according to a Straits Times report.
The project, codenamed Sherlock Holmes, should take about a year to implement and is estimated to cost a seven-digit sum to set up.
http://ad.doubleclick.net/click;h=v...reative.asiaone.com/2011/IA/a1race2011/phase2
The new system allows insurers to check up on the driving history of a policyholder without ever leaving their desks.
Insurers can make informed decisions about the kind of customers they want to take on, and increase the price of the premiums of those they have reason to be wary of.
It also means that bad or dishonest drivers can no longer can get away with the claims they have made so easily by simply switching insurers, should their policies be terminated by another.
This will help keep a check on rising motor insurance premiums as, at the present, claims from these motorists represent a cost burden that all motorists, including the good ones, have to share
