Markerstudy Group is the latest personal lines insurer to confirm they are working closely with Insurance Initiatives Limited to integrate Informed Quotes (CUE), Consumer Credit Bureau and other data sources at New Business Quotation stage to supplement their extensive post sale anti-fraud process.
The desire to supplement limited risk data captured at quotation with third party bureau data to combat fraud and optimise pricing has been high on the agenda of Gary Humphreys, Group Underwriting Director of Markerstud, who commented:
"Insurance Initiatives Ltd have presented a real and affordable solution to the long standing challenge faced by the Broker focused insurance market. Integrating their Informed Quotes (IQ) solution with our Software House partners will have a real and immediate impact on our pricing for both our Markerstudy and Zenith brands and will ensure our premiums more accurately reflect the true risk we face and will benefit the large majority of our customers.”
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Notes to Editors:
The Markerstudy Group includes the insurance arm of the business: Markerstudy Insurance Company Limited and Zenith Insurance plc (acquired in January 2010) plus supporting companies Markerstudy Limited and Zenith Insurance Management UK Limited, providing markerting, distribution, claims and administrative support. In addition, there is a retail division which includes six customer facing brands, and Wessex Finance, a sub-prime lending and premium finance facility. Auto Windscreens joined Markerstudy Group in February 2011.
For further information, contact:
Head of Group Marketing and Communications
Tel: 0844 854 8714