’It can give an insurance provider an edge, especially in aggregator-exposed channels,’ managing directorUsing predictive data to analyse consumer behaviours is essential for gaining a competitive edge in the insurance market. That was according to Richard Tomlinson, managing director of Percayso Inform, who explained to Insurance Times that such data can provide insurers with ”unique insights” that offer them a “competitive edge” and advantage. “However small that insight may be, it can give an insurance provider an edge, especially in aggregator-exposed channels where the better risks will naturally flow to those who have the best consumer understanding,” said Tomlinson. His comments came after specialist insurance broker Principal Insurance signed an agreement to access data predicting consumer behaviour from Percayso. Percayso is able to obtain data on consumer behaviour through the Foresight platform, which was launched in May 2022 by Close Brothers Premium Finance (CBPF).

Source: The Times February 12, 2024 09:11 UTC