The latest update from Covea and CDL for you;
Covéa Insurance has launched its Home Insurance business on CDL’s Insurer Hosted Pricing (IHP) hub, as it targets growth and market agility in this segment. The move follows Covéa’s successful expansion of its private car business since migrating to CDL’s cloud-based Proteus IHP platform in 2020 as part of a wider digital transformation strategy. The next phase of this will see the two companies collaborate on proactive, AI-driven features to enhance the customer journey.
Hosted on the world’s most comprehensive and broadly adopted cloud platform, Amazon Web Services (AWS), the Proteus IHP hub enables Covéa Insurance to make modifications to product and pricing strategies in real-time, giving brokers faster access to competitive rates. Using the hub’s enrichment service, the insurer is able to make more intelligent rating decisions based on extensive industry data and streamline the customer journey.
Sue Coffey, Personal Lines Director at Covéa Insurance, said: “The migration of home insurance to the CDL Proteus hub is an important step for us, enabling us to deliver Home Insurance products to our brokers and provide faster access to the latest releases, which ultimately drives higher value in our partnerships and reinforces our commitment to the Personal Lines market.”
AWS Cloud-hosting ensures Covéa Insurance is able to easily scale its infrastructure to accommodate additional partners and products, significantly increasing opportunities to drive growth and profitability for its partners.
The IHP solution is integrated with the UK’s major software houses, ensuring full market distribution. Catherine Masters, Pricing and Data Director at Covéa Insurance, said “The platform has accelerated the speed of rate deployments, which has unlocked the ability to price more effectively. This has significantly enhanced the breadth and depth of data available which allows for more comprehensive insight and better-informed decision making across the board.”
CDL’s Chief Executive Officer, Nigel Phillips, said: “We’re delighted to be extending our relationship with Covéa Insurance and are collaborating on building out future solutions to support AI-driven and data-driven proactive insurance offerings across the market, as we deepen the relationship further.”
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