Consumer Intelligence has teamed up with Insurance DataLab, bringing together two powerful data sets “to help insurance clients across the two businesses deepen their market understanding.”
The partnership will see the two companies work together “to identify opportunities to combine their data to produce powerful industry insights and better serve client needs, starting with a special report later this year.”
Ian Hughes, CEO of Consumer Intelligence says:
“Our partnership couldn’t come at a better time for the market. Never has there been more uncertainty – the implementation of the new pricing rules and the cost-of-living crisis are fundamentally changing the landscape of general insurance.”
Hughes added:
“At Consumer Intelligence, our purpose is to help build confidence in financial services, and by working together with Insurance DataLab we will have even better resources to do this together. Data and insights play a pivotal role in helping insurance businesses make confident decisions in the face of pricing volatility and changing consumer behavior.”
Dan King, co-founder of Insurance DataLab remarked:
“It has been a pleasure working with Matt and Dan over the last year as they’ve evolved Insurance DataLab from concept into reality. They have developed a compelling data proposition which complements our own capabilities, building an increasingly comprehensive picture of what is happening out in the market for our clients. We are delighted to announce our official partnership and we look forward to it bearing fruits as the year progresses.”
King further noted:
“We are delighted to be deepening our partnership with Consumer Intelligence. By working more closely with each other we will be able to provide data solutions that deliver more actionable insights for the insurance industry. Not only will this help our insurer partners to better understand the market, but it will also allow them to produce fairer outcomes for their customers while simultaneously improving their performance.”
As mentioned in the update, Consumer Intelligence “is an insight partner for financial services and has been benchmarking the insurance market for almost 20 years.”
The company’s unique combination of price benchmark data, consumer research and extensive experience has “helped insurance brands across the UK focus on delivering better services to customers and improving their own business performance as a result.”
Launched in 2021, Insurance DataLab “is a powerful new benchmarking platform, focusing on the performance of insurers, Lloyd’s Syndicates, MGAs, and brokers based in the UK and Gibraltar.”