UK Business Tech Awards 2019
Hummingbird Syndicate prevails
14th November 2019CDL's Hummingbird Syndicate is celebrating national success, taking home the award for 'Best Use of Data' at the UK Business Tech Awards 2019. The collaborative anti-fraud initiative was recognised for its innovative application of technology, which has enabled a number of leading insurance providers to join forces to tackle the growing problem of application fraud, and drive growth.
Judges were impressed by Hummingbird Syndicate's "brilliantly clear objectives, and clear strategy". One customer reported business growth in the second half of 2018 of 11%, on track to increase by a further 16% throughout 2019, as a result of Syndicate membership, and another forecasted a 50% reduction in post-sale validation costs.
It's been a successful season for CDL, with Hummingbird Syndicate awarded 'Best Use of Data' at the Prolific North Tech Awards earlier this year. It was also shortlisted for 'Best Use of Technology' in the Broker Innovation Awards 2019.
Commenting on this success, Nick Jackson, CDL partnerships director, said: "We are delighted that Hummingbird Syndicate continues to be recognised for the creativity it displays in tackling what is a big industry problem and the value it is adding for insurance retailers.
"It has proved highly successful for our customers in a range of different applications since its launch, including providing deeper customer insights and a dramatic decline in cost factors, such as bad debt. This award is testament to the impressive results we are delivering."