Business insights firm Consumer Intelligence has struck a new partnership deal with Insurance DataLab – an insurance benchmarking platform which tracks the performance of insurers, Lloyd’s syndicates, MGAs, and brokers in the UK and Gibraltar.
According to a release, the partnership will see both companies work together to identify opportunities where they can combine their data to “produce powerful insights and better serve client needs.” They also said that they will produce a joint special report, to be published later this year.
“Our partnership couldn’t come at a better time for the market. Never has there been more uncertainty – the implementation of the new pricing rules and the cost-of-living crisis are fundamentally changing the landscape of general insurance,” said Consumer Intelligence CEO Ian Hughes.
Hughes added that Consumer Intelligence’s purpose is to “help build confidence in financial service”; the partnership with Insurance DataLab will provide the company with better resources to accomplish that goal. He also noted that Insurance DataLab had developed “a compelling data proposition” which complements Consumer Intelligence’s capabilities.
“Data and insights play a pivotal role in helping insurance businesses make confident decisions in the face of pricing volatility and changing consumer behaviour,” the chief executive said.
“We are delighted to be deepening our partnership with Consumer Intelligence. By working more closely with each other we will be able to provide data solutions that deliver more actionable insights for the insurance industry,” said Insurance DataLab co-founder Dan King.
“Not only will this help our insurer partners to better understand the market, but it will also allow them to produce fairer outcomes for their customers while simultaneously improving their performance.”
