Percayso Inform Teams Up With Infact

The latest partnership news from Percayso Inform;

Percayso Inform has signed a new, ongoing partnership agreement with Infact, the bureau for real-time risk signals. The agreement will see Infact make its data and risk products available through the Percayso Inform Intelligence Hub.

The partnership enables Hub users to access Infact’s Affordability, Credit Risk, Fraud and Identity products through a single, embedded gateway. With this level of high-quality credit risk, fraud and identity data, insurers and intermediaries are able to make better risk decisions and deliver better outcomes for their clients.

The partnership comes as the insurance sector navigates the FCA’s expectations under the Consumer Duty. With the regulator keeping a close watch on policy affordability and fair value, and premium finance now used in roughly half of all motor and home policies, insurers and intermediaries are under increasing pressure to prove that customers can afford the products they buy.

Infact’s category-leading affordability and cost of living capability is built for this purpose, giving insurers an up-to-date, accurate view of a potential customer’s financial position rather than one based on weeks old data. Infact’s real-time bureau ingests reported data within 24 hours and delivers affordability, credit risk, fraud and identity signals through a modern API, closing the gap between when a consumer’s circumstances change and when that change becomes visible.

Through the Percayso Inform Intelligence Hub, insurers, MGAs and brokers can seamlessly access Infact’s product suite. This allows them to verify ID and address, assess affordability, and carry out credit and counter-fraud checks. In a market where fraud risk continues to rise, the same network data can identify risk earlier in the customer journey and verify identity with less friction.

Chris Traill, Client Director at Percayso Inform, said: “Percayso Inform seeks to find and partner with cutting-edge data sources to help its clients achieve the best and most accurate results possible. Percayso selected Infact as it is an innovative credit bureau delivering high quality affordability, credit risk, fraud and identity data, ideal for making informed, intelligent risk decisions.

“By quickly identifying changes in an insurance customer’s circumstances by using real-time data, this partnership presents a solution to insurers, MGAs and brokers under pressure to provide affordable and fair value policies to their customers. Furthermore, with the rising risk of fraud, our clients can now be reassured that they are getting the most accurate and timely information to make their decisions on.”

James Bryce Lind, VP Commercial at Infact, added:

“Insurers and intermediaries are being asked to stand behind affordability and fair value like never before, and the data most of the market relies on simply was not built for that. It is too slow and too far out of date. We built Infact to give firms a real-time, accurate view of a consumer’s financial position, and bringing that into the insurance market through Percayso Inform is a natural next step for us. Percayso has built something genuinely useful in the hub, and partnering with them lets us serve a whole new set of firms who are navigating real, regulatory and commercial pressure. It is a clear example of how the right data, delivered at the right moment, helps firms make better decisions and treat customers better.”