Hastings Direct has strengthened its relationship with Equifax by signing a multi-year deal which will see the data giant provide the insurance group with fully integrated data solutions to inform and support the speed and accuracy of the brand’s pricing decisions.
The partnership covers consumer data, ID verification and claims data, and will enable high volumes of quotations to be processed by the insurance firm, including leads from price comparison websites, in realtime.
It is claimed that this breadth and depth of data enrichment also drives optimal pricing decisions, reducing cancellations and claims, and ensuring best outcomes for customers and the business.
Hastings Direct director of technical pricing and decision science Peter Kelly said: “Leveraging fast, predictive and accurate data insights is critical for business agility, and is core to our business strategy. After conducting a thorough review of the market we decided to continue our relationship with Equifax due to the power of its data at point of quote, service levels and tailored approach to the insurance market.”
Equifax head of insurance Matthew Pilgrim pointed out that the general insurance market is increasingly competitive, and the capacity to provide informed pricing decisions at speed is fundamental to business success.
He added: “Equifax has supported Hastings Direct with data enrichment solutions for seven years, during which time the company has experienced considerable growth. We’re looking forward to continuing the strategic relationship with Hastings Direct, and playing our part in its successful future.”
The Hastings Direct marketing account has been handled by Rapp since 2014.
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