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The Integrated Motor Insurance Database System, commonly referred to as IMIDS, is now live. The system, domiciled at the AKI Secretariat, went live on 31 January 2018 following the successful conclusion of the system development process.

The system will help in addressing the rising cases of fraud by providing a portal where members can verify the underwriting and claims history of an insured and at the same time receive fraud indicators.

System adoption has been low, however it is anticipated that this will pick up in due time. The lack of data as well as its low quality is still a major challenge that is facing the project.

What is IMIDS?

The Integrated Motor Insurance Data System (IMIDS) is a centralised repository of motor insurance data domiciled at AKI.

Sharing of motor insurance data from the various insurance companies enables the system to generate insights and trends in motor insurance and it is easier to detect fraud at both the underwriting and claims levels. The system is also promoting standardisation for processing underwriting and claims information.

The system provides statistics on; stolen motor vehicle data, salvage data, written-off motor vehicle data, uninsured motor vehicles, accidental claims and other key indicators.

How does the system work?

IMIDS is integrated within the operating environment of each member company. From the portal, underwriters are able to verify the underwriting history and claims history of a customer as well as receive alerts on various fraud indicators that are built into the system.

The system also has a module where members order their motor certificates online.

What are the benefits?

The system will benefit both insurance companies and motor insurance customers

-          Insurance companies- For insurance companies, they will be better placed to detect fraud early on and save on millions of shillings that have been fraudulently claimed in the past. The data provided by the system will also help insurance companies make better business decisions regarding motor insurance.

-          Consumers- Given that there is historical data and going forwards more details about motor insurance customers, creating a form of ‘track record’, it will be possible for customers to enjoy better discounts or benefits. In addition, centralisation of data will improve the efficiency and effectiveness of processing claims an action that will greatly improve customer service delivery levels in insurance companies.

How many companies have connected to the system?

35 insurance companies that provide motor insurance have been integrated to the system.

To make the system more valuable, integration with other key players in the motor industry is ongoing. Discussions are at advanced stage to integrate with the National Transport and Safety Authority (NTSA).

 

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