19 July 2022: Insurance data intelligence provider, Percayso Inform, is proud to announce that it has been appointed to develop and deliver a bespoke solution to support Ageas UK’s data-led step change.
Ageas is the first major UK personal lines insurer to deploy Percayso’s quote manipulation functionality across its full range of home and motor products. Quote manipulation is where a person deliberately changes their details to obtain a cheaper insurance quote, which are not an accurate representation of their risk, thereby potentially affecting their level of cover
The Percayso solution will allow Ageas to draw data from multiple sources to identify where incorrect information has been offered, giving confidence to brokers that the risk is as described, while protecting honest customers who ultimately have to pay increased premiums for the impact of fraud on insurance costs.
Commenting on the investment, Adam Clarke, Chief Underwriting Officer at Ageas UK says: “Using the Percayso Inform Manager digital platform enhances our technical capability to create and deploy our own rules and models in real-time. This ultimately means we can offer data-driven decisions at point of quote with speed and precision and allows us to test and update our data and pricing strategies at any time.”
The infrastructure that Percayso has built has the capability to handle millions of transactions a day, delivering responses in milliseconds.
“We’ve invested significant energy and resource in building a unique and ground-breaking quote intelligence solution that will allow Ageas to control and manage its data analysis internally,” says Percayso Inform Managing Director, Rich Tomlinson. “We are proud to have developed this bespoke service that will ultimately help Ageas to deliver optimal performance, initially by reducing fraudulent activity and rapid pricing adjustments to meet changing market conditions.”