The insurance market has changed profoundly over the last 10 years with the advent and increased take-up of the internet as a major sales channel.

The challenges presented by the comparison sites mean that insurers have to provide many times more quotations for the same number of home and motor policies than ever before - and this trend is increasing. Pricing models must now be both accurate and competitive as well as being available 24x7 to price-savvy consumers being driven to use comparison sites by saturated TV advertising campaigns.

One consequence of this change is that consumers can not only shop around and compare all available prices from their own home but increasingly can iteratively vary details about themselves, their vehicles and their homes to see all pricing variations before settling on a quotation that may not reflect accurately the risk being taken on by the insurer.

The ability to cost-effectively access data sources that verify and validate some of the key data provided by consumers is increasingly becoming critical to running an optimal book and this is where Insurance Initiatives comes in.

Using our broad experience in data access, analytics and web-based data delivery we are seeking to provide insurers with the data they need, when they need it and at a price that makes sense in today’s market.

We will continually strive to innovate and deliver new value-adding services, underpinned by the smart use of available data and predictive modelling to help insurers to overcome the challenges they face every day.