Covéa Insurance has joined forces with Insurance Initiatives Limited (IIL), to implement the Informed Quotes service on all of its key software house platforms for its personal lines business.
IIL are leading data specialists in the personal lines intermediated marketplace and provide their clients with the ability to make a real time call to their data hub providing data enrichment into their rating engines.
Covéa Insurance has selected IIL’s data services to further enhance the sophistication of its pricing.
Colin Batabyal, Personal Lines Director at Covéa Insurance said: “Our aim, as Covéa Insurance, is to operate at the leading edge of technology initiatives and we firmly believe that the implementation of these solutions that provide enriched sources of data are vital in precision pricing.
“A more accurate assessment of underwriting, claims risk and fraud at the point of quotation is a major benefit to our brokers and their clients as we continue to expand the range of tools available to us, to enable us to offer the most accurate and competitive premiums possible.”
Peter Lacey, Sales Director of Insurance Initiatives commented: “Our Informed Quotes product provides the intermediated marketplace with powerful data which is quickly becoming an indispensable part of the pricing process and a crucial tool to underwriters. One of the key benefits of the IQ product is that it is able to cost effectively deliver value in a high volume environment and we are delighted to add Covéa Insurance to our ever increasing list of clients.”
Covéa Insurance has been working very hard this year to bring together Provident and MMA to establish a new force in the general insurance market and this project is just one of a range of initiatives that form part of the Company’s strategy to deliver the quality, consistency and financial reassurance their brokers and partners value.
