NTUC Income, an insurance company in Singapore, has today announced its plans to launch free mobile app Orange Eye on iOS App Store and Google Play this Friday, May 23, 2014.
The app comes with three main features. Firstly, it allows drivers to record video footage, which can be shared on various social networks or with the insurance company.
In case of an collision, only the last two or four minutes will be recorded and stored on the smartphone, should the accident button be triggered or manually activated. However, the app will continue recording for one whole minute after the accident occurred, and store that in the smartphone as well.
According to a spokesperson at the launch event, the accident button will be triggered should the smartphone detect acceleration above 10 Gs.
Secondly, it provides drivers with ways to “make informed decisions” in case of an accident. Drivers who are policyholders with NTUC Income can activate the 24/7 Orange Force accident response team, or send a message with the map location attached to a pre-determined SMS.
Lastly, Orange Eye also acts a reminder for drivers to renew road tax and insurance policies.
Developed by an external agency, the app will help combat motor insurance fraud, which according to the General Insurance Association of Singapore, costs the industry some S$140 million (US$111 million) per year. The same association also estimated that 20 per cent of all motor insurance claims in the city-state are inflated or fraudulent.
Marcus Chew, Vice President of Strategic Marketing, NTUC Income said, “Most drivers recognise that video evidence is useful in settling disputes. However, some drivers prefer not to install in-car cameras to avoid additional clutter while others are not willing to pay for them.”
Furthermore, NTUC Income has added that it will offer motor policyholders a S$100 (about US$80) discount on insurance premiums when they submit useful video evidence. The same incentive will be available for non-policyholders, and witnesses who have useful video evidence that can help in settling a claim.
However, both Chew and Peh Chee Keong, Vice President, Motor Insurance, NTUC Income, noted that drivers who submit video evidence on claims belonging to other insurance companies will not be able to receive the discount.