Swinton, the UK high street personal lines insurance intermediary, has a new contract with the credit information and analytics firm, Equifax. Its ID fraud software is being used by Swinton to validate the identity of new customers. Equifax’s data sources have also been integrated into the Swinton quotation engine to determine the claims risk of customers.
Swinton Group Ltd services the insurance needs of about two million customers through its 500 branches as well as a number of specialist units and call centres. It also has an ecommerce proposition which includes links to 30 price comparison sites.
Operating in the highly competitive personal lines insurance space, Swinton needed to be able to deliver a quality service to its insurer panel. According to the firms the integration of Equifax data and analytics has enhanced Swinton’s position with its insurer panel, while ensuring minimum impact on its day to day business.
Chris Collings’, Insurer Development Director at Swinton said: “As a market leading intermediary, we needed to be certain of both fast response times and high availability to quality data. We can only retain our competitive position with our insurer panel if we can deliver the right quality of quotations,without delay. Equifax’s dedicated Insurance team understood this need very clearly and, gave us the confidence of quality and speed.”
The information available from Equifax has been fully integrated into the customer application process at Swinton, to help lower loss ratios with their insurer panel. “Swinton works in a highly competitive market, operating across a number of distribution channels and we had to deliver a set of consumer information and ID solutions that could support the high volume of quotations without compromising on response times,” added Stuart Smith, Business Development Director for Insurance at Equifax. “We, therefore, worked closely with Swinton to develop a bespoke data delivery system, tailored to Swinton’s needs, as well as offering consultancy support to ensure it utilises our best of breed solutions.
“This latest contract further demonstrates the tailored solutions and expertise Equifax is delivering in the insurance marketplace, providing crucial fraud and business retention support. We aim to empower insurers and brokers, giving them the intelligence required to set accurate premiums and assist with credit granting decisions whilst reducing the risk of claims and claims fraud.”
