LEEDS, UNITED KINGDOM — (Marketwire) — 01/13/12 — Insurance Initiatives Ltd (IIL), the market leading provider of data enrichment services to the insurance industry has announced that its real-time Informed Quotes (IQ) service is now processing in excess of a 1/2 million new insurance quotations per day. IQ makes rapid external searches of Callcredit Information Group-s consumer risk data including the powerful Gauge score and and alias name data for the proposer. This can be used to significantly enhance searches of the Informed Claims database (derived from CUE), by finding non-disclosed claims at previous addresses or registered under previous names.
The IQ service is designed to support ever-increasing volumes from aggregators and broker sources, either directly or via IIL-s Software House partners. Insurers can now access powerful data sources at the point of quotation to help verify the identity of proposers and more accurately rate the risk they represent with a greater degree of confidence. Different insurer clients can access the same data simultaneously but interpret it differently using private algorithms hosted by IIL on the familiar Polaris platform.
Simon James I.T. Director at Insurance Initiatives commented “Our environment has been processing large volumes of insurer transactions for more than a year now, but until recently these have been post inception or via a browser. The challenge of servicing exceptionally high quotation volumes each requiring access to external data that needs blending and interpreting for each insurer, all within three seconds, has taken a considerable amount of effort to meet. We have worked hard with our many partners over the last three years to ensure that the impact of the data is applied within the insurers rating engines in time to affect the final quotation.”
Graham Lund, Managing Director of Callcredit commented ” We have been working with Insurance Initiatives for some time now and I am delighted that all of our hard work and preparation for this groundbreaking service is now delivering the value we anticipated to an ever increasing number of insurer clients from both of our respective organisations. Insurers can now confidently look forward to reaping the increasing rewards of data enrichment at the point of quotation, which will also benefit the vast majority of consumers.”
About Callcredit Information Group –
Callcredit Information Group-s leading approach to deploying consumer information brings together experts across the fields of credit referencing, marketing services, interactive solutions and consultative analytics to provide clients with a range of innovative and effective products to discover new customers and to engage with current customers to optimise and increase profitability.
Products include award-winning fraud verification tools and database solutions to positively verify consumers, global operations to help expand businesses into new markets, digital solutions to improve the overall journey consumers make during interaction with a brand, customer handling to ensure consumer satisfaction at all levels and consumer marketing data and segmentation to improve understanding and targeting of customers and prospects.
Callcredit also offers products for their clients to assess a customer-s credit risk and affordability and their experts in collections and recoveries provide tailored debt recovery and tracing tools. Their market analysis and network planning function helps organisations develop profitable retail networks, and their tools in multi bureau, analytics and metrics work to provide fully assessed bureau data.
Contacts:
Callcredit Information Group
Duncan Bowker
PR Manager
0113 388 4300 or Mobile: 07557 263 660
Callcredit Information Group
Eleanor Harte
PR Officer
0113 388 4300 or Mobile: 07785 464 810