The Interview: Talking Connected Data, Growth & More With Percayso

It’s already a busy year for Percayso-Inform as they announce the acquisition of Cazana Data Services, which will enhance and expand the company’s data reach. Insurance Edge caught up with Percayso MD Rich Tomlinson to find out more.

IE; 2023 is off to a flying start then?

RT; It is yes. The Cazana acquisition was something that seemed perfect to us, the right company at the right time. We knewPercayso would offer Cazana a much better home, so it seemed like the ideal time to start a conversation.

For us, Cazana really dovetails into what we are already doing which is delivering interesting data in the Motor sector. It adds five people to our data development team, plus a new roster of some 40 clients to our business of course and we are able to present point of quote or FNOL data in a variety of ways to those clients.

IE; What’s the best feature about vehicle data for the insurance sector?

RT; Has to be vehicle valuations. This is an area where we at Percayso always admired Cazana because their vehicle value database was so good, incredibly extra thorough, with multiple sources too. If you are processing a claim at the FNOL stage, in that first “golden hour” then knowing what particular makes, models and specs of cars within that model range, are really worth, with a certain mileage, service history etc. is crucial.

IE; Yeah it can make the difference between approving a repair which may take weeks, plus storage, hire costs and so on, vs a write-off and salvage value. You need that granular value info from the used vehicle market.

RT; Absolutely. So now we are ingesting that valuation data all the time, every day of the week. So you can look back and see what a specific similar car sold for in the last 6 weeks, months, different locations, mileage etc. That’s why major car insurance utilise us; if you get the value decision process wrong then you can be out by hundreds on every claim.

IE; How’s the reaction been to the acquisition from the sector?

RT; Really incredibly positive. We have been inundated with enquiries from companies, plus some companies we have talked to in the past have come back with fresh ideas. It’s perhaps a bit early to buy in our growth cycle, but the reaction proves the demand for customisable data is there.

IE; How does the future look for data usage across the insurance industry?

RT; There is so much more we can do in terms of data attributes, in joining the data points together for a richer picture. Being able to access MoT, servicing history, tyre replacement and other in-car data at the point of quote, renewal or during FNOL is something that will bring new benefits.

Connected car tech like ADAS opens up all those possibilities for insurance brands, because gaining insights into who is truly looking after their vehicles is crucial when it comes to pricing risk.

Especially if the first MoT rule is going to be extended to four years.

IE; How about future collabs for Percayso, what are you thinking after the Cazana deal?

RT; The collaboration approach we have is primarily with the client. The reason is simple, clients operate in various niche sectors and know them inside out, so they have a deep understanding of the type of data they want and how they need to access it. Because the insurance industry itself is a series of collabs between brokers, MGAs, underwriters and other specialists, there is no one size fits all data package, That’s a given. So you have to keep listening and learning from all your clients to keep growing.

Data services aren’t about building something brand new from scratch, it’s about refining the product, making the best of the tech that works across the industry.

IE; Rich thanks for your time.

About alastair walker 11354 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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