GB Group - Property Data
CDL partners with GB Group to provide property data services
26th June 2019CDL has launched a new property data offering to provide home insurance brands with access to market-leading property intelligence for enrichment purposes and to facilitate enhanced digital experiences for consumers. This follows a deal concluded with location intelligence specialists, GB Group, which will see its Loqate data integrated with the technology firm's retail solutions.
The partnership will enable insurers to supplement consumer declared information with data relating to over 50 attributes, including building volume and burglary rate, at point of quote, in order to aid verification, evaluate risk more effectively and produce better-informed rating decisions.
It will also enable insurance retailers to meet increasing consumer demand for simplified, streamlined online experiences, by using the data to either remove or pre-fill a large number of the questions typically associated with home insurance applications, such as type of property, number of bedrooms and common risk factors, such as distance to watercourse and tall trees. This will support proactive insurance propositions, such as CDL's Chorus platform.
Loqate's property intelligence data is compiled by complex analysis of a wide range of sources and updated frequently to create an unrivalled list of attributes that can be utilised by insurers to provide a complete picture of the property and surrounding location. Known for its innovative address validation and geocoding technology used to capture and verify addresses, GB Group is one of the world's most trusted specialists in location intelligence, with a track record in the insurance industry. Allianz, Legal & General and Homelyfe are amongst its customers.
Commenting on the launch of the new service, CDL partnerships director Nick Jackson said: "I'm delighted that we are now working with GBG to add industry-leading property data to our range of enrichment sources. Loqate is outstanding in terms of its range and quality of data, so I'm confident that it will bring real benefits to both our insurer and intermediary customers. We already have firm interest in using the solution for data enrichment purposes, as well as to enhance consumer experiences."
John Bellis, channel partner manager for Loqate, said: "Property Intelligence Data will give CDL's clients a huge competitive advantage, enabling improved risk assessment and more streamlined operations. Not only this, but our dataset will also help insurers to reduce costs through understanding the complete picture and physicality of a property, as well as its history."
The deal is the latest investment by CDL in its data and analytics capabilities, which includes its ultra-fast Hummingbird search and analysis tool, enabling insight to be drawn from data to leverage competitive advantage in real time. This has recently been boosted with the launch of new products to aid API connectivity and data orchestration.