Specialist motor insurer ERS has announced the latest stage in the development of its data enrichment capabilities through a new partnership with insurance intelligence provider Percayso Inform.
The team at Percayso – third on our InsurTech 50 ranking late last year – has refined its quote manipulation tool to create an enhanced solution for ERS.
This includes building in specific data points to support the ERS strategy of providing accurate quotes in real time across all risks including those that other motor insurers may simply decline rather than analyse and price accordingly.
“As a broker only insurer, it is important that we do all we can to support our partners and ensure they write high quality business year on year. That’s why we’ve made significant investment in developing our data enrichment capabilities over recent years, identifying the best providers to work with,” said Martin Hall, active underwriter at ERS.
“This approach is making a real difference to our digital distribution strategy and our underwriting result and we will continue to embrace new technology and factors to feed into our data science platform which will help us continue to optimise our portfolio.”
Hall continued: “We’re delighted to integrate Percayso into our data ecosystem as their quote intelligence platform adds a further tool to our arsenal in combating the increasingly concerning issue of quote manipulation.
“With motor premiums rising on average by over 50% at a time when consumers are facing a real cost of living crisis, the motor insurance market is expected to experience another tough year in 2024. It is vitally important that we maximise the wealth of data available to us to write better business and better support our broker partners.”
ERS is now utilising the Percayso quote manipulation tool across its private car business, and aims to roll use of the tool out across its aggregator based products including van and taxi over the coming months.
“ERS have been a pioneer in the motor market when it comes to understanding the role that having the right data at your fingertips can play when it comes to writing better business,” added David Kelly, commercial director at Percayso.
“We truly believe in creating true partnerships with our customers and so are delighted that we’ve been able to refine our quote intelligence offering to deliver the unique blend of data points they need to support their pricing strategies.
“We’re looking forward to building on the relationship further as they extend its use across their business.”