ERS to use more data to support brokers through new deal

Specialist motor insurer ERS is looking to help brokers write better business by using more data through a new partnership with Percayso Inform.

A statement released today (24 January 2024) said the deal will see Percayso refine its quote manipulation tool to create an enhanced solution for ERS.

The solution will build in specific data points to support the ERS strategy of providing quotes in real time across all risks.

”This includes those that other motor insurers may simply decline rather than analyse and price accordingly,” ERS said.

Martin Hall, active underwriter at ERS, added: “As a broker only insurer, it is important that we do all we can to support our partners and ensure they write high quality business year-on-year.

“That’s why we’ve made significant investment in developing our data enrichment capabilities over recent years, identifying the best providers to work with.

“This approach is making a real difference to our digital distribution strategy and our underwriting result. We will continue to embrace new technology and factors to feed into our data science platform, which will help us continue to optimise our portfolio.”

Premiums

ERS is currently using the Percayso quote manipulation tool across its private car business.

It aims to roll the solution out across its aggregator based products, including van and taxi, over the coming months.

Hall explained that the quote intelligence platform “adds a further” tool in combating the issue of quote manipulation and was needed amid rising premiums.

For example, data published by Confused.com and WTW earlier this month (16 January 2024) showed that all regions across the UK recorded price rises of over 50% in motor insurance premiums over the last 12 months.

“With motor premiums rising on average by over 50% at a time when consumers are facing a real cost of living crisis, the motor insurance market is expected to experience another tough year in 2024,” Hall said.

”It is vitally important that we maximise the wealth of data available to us to write better business and better support our broker partners.” 

David Kelly, commercial director at Percayso, added: “We truly believe in creating true partnerships with our customers and so are delighted that we’ve been able to refine our quote intelligence offering to deliver the unique blend of data points they need to support their pricing strategies.”