Insurance Times Awards 2024: Atec’s Pendulum offering helps solve inherent problems in non-standard lines market

1. Why did you put yourselves forward for the Excellence in Technology – Broker category?

Atec is a fast growing insurance group with data and technology at its heart. 

For decades, we have looked for opportunities to leverage it to help our partners and the industry gain greater insights into what drives different segments of the market. 

With Pendulum, our approach has certainly had a big impact on the touring caravan market. 

We saw the problem with capacity and set about using the company’s unique 15 years’ worth of data to solve it.  We’re incredibly proud of what Pendulum has achieved and have entered the awards to hopefully give it the recognition it deserves.

2. What do you think makes your entry stand out and why should you win the award?

Pendulum, Atec Group’s proprietary data analytics proposition, has been a game-changer for non-standard lines, successfully solving inherent problems in this market. 

It has made touring caravan policies more profitable and desirable again for insurer partners with loss ratios even outperforming vanilla risks, whilst making policies available and affordable for many customers who couldn’t secure cover elsewhere. 

Relationships with insurer partners have flourished and the loyalty discounts Atec are able to apply at renewal have seen dramatic improvements to retention and customer satisfaction rates.

Atec’s ‘Insure My’ consumer retail brand is now the number one touring caravan provider.

3. What would winning this award mean to you and your firm?

It would mean so much to see Pendulum and the team that has worked tirelessly to develop it get the recognition they deserve. 

We have developed an intimate knowledge and passion for the product; blood, sweat, tears and significant research and development investment gave birth to Pendulum. 

Its success is evidence of Atec’s unwavering commitment to advancing technology within the distribution landscape of the insurance industry.