Mia Wallace of&nbsp;<a data-entity-type="MINI_COMPANY" data-attribute-index="0" href="https://www.linkedin.com/company/insurance-business-uk/">Insurance Business UK</a>&nbsp;sat down with Rich Tomlinson, MD of Percayso Inform to discuss the evolution of data analytics.
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<a href="https://www.insurancebusinessmag.com/uk/news/technology/percaysos-rich-tomlinson-explores-the-evolution-of-data-analytics-and-enrichment-tools-444507.aspx">See the full story here</a>

Percaysos - Rich Tomlinson explores the evolution of data analytics and enrichment tools

KEY TAKEAWAYS:
<ul>
<li>Customers are using Percayso’s vehicle intelligence solution to modernise the insurance industry.</li>
<li>Multiple, complex data sources are translated real-time into unrivalled insight at every stage of the insurance life cycle</li>
<li>Customer benefits include increased efficiencies, improved customer experience, reduced fraud and faster dispute resolution</li>
</ul>
We previously spoke about how the <a href="https://www.percayso-inform.com/how-percayso-is-delivering-next-generation-insurance-intelligence-services-with-leading-vehicle-data/">insurance industry will be able to write better business with Percayso’s vehicle intelligence tool</a>. In this blog, we hear from Percayso’s customers who are using the tool and provide insight on the benefits they have derived.
Complete vehicle granularity
The vehicle insurance industry is looking for new tools to help increase efficiencies, price better, reduce indemnity spend and provide a better customer experience. Being able to access real-time data and insight in a clear and meaningful way that can be quickly interpreted and understood at point of quote, is paramount.
“Having true vehicle granularity and understanding everything about that vehicle and policy holder enables a sense of transparency and trust that both translates to consumer trust but also trust that the system is giving you fair and accurate information that you can rely upon and backed up with hard evidence.” – Kieran Fisher at Percayso
Percayso’s Vehicle Intelligence tool provides pricing, claim and fraud teams the whole picture of the vehicle’s history from manufacture to the present day, including MOT history, owner and number plate changes, previous images, previous advertisements for sale and an accurate retail-back valuation based on today’s market from over 400k unique data points daily. This insight enables informed decisions to be made about pricing and valuation, whilst identifying early the threat of potential fraud.
Resolve disputes quicker
Handling claims disputes and identifying potential fraud is time consuming and costly, with all parties involved looking for a fast and fair settlement. Being able to fairly assess and justify the reasons behind the quotation and providing clients with factual evidence, is paramount in retaining customer satisfaction and reducing valuation disputes. This requires credible evidence and data.
“Our use of the data has vastly reduced the volume of valuation disputes which escalate to a customer complaint as our claims teams are now able to efficiently resolve disputes by having reliable data at their fingertips.” – Verity Lipscombe at Mulsanne
Insurers and the Financial Ombudsman are using Percayso’s vehicle intelligence tool to settle claims fairer and quicker, by having access to the vehicle specific data and information. With over one billion unique data points, this insight provides transparency on the detail, reasoning and evidence for the vehicle valuation which in turn, removes any personal issues around ‘fairness’ and creates trust between the insurer and the customer, as they’re able to provide the ‘why’ that is driven by the data behind their decision.
“We originally chose to work with Percayso because The Financial Ombudsman Service uses them when dealing with valuation disputes. Having had cases with the Financial Ombudsman in the past we wanted to align our process to theirs to stop that happening.” – Ian Brown at esure
The provision of a complete vehicle history data and used by all parties, ensures that a fair value is available to customers who are disputing a value, with no grey areas. It helps insurers to better price motor risk and reduce the frequency of motor claims by understanding the true value, condition, specification and risk signature of vehicles at the point of quote.
Real-time data in one place
A significant challenge for insurance claims teams is the lack of access to real-time data and valuations. For example, many external motor engineers manually inspect vehicles and provide values using traditional trade guides which can be a time-consuming process and clunky for both customers and internal teams.
Instant access to intelligent data, made in real time, used by all parties involved allows better decisions on pricing to be made, reduces potential cases of fraud and enables efficiencies and cost savings for both people and budget.
“At the time, we were using at least three different sites and suppliers for the data we needed; however, after swapping to Percayso Vehicle Intelligence we got all that data in one place at the click of a button. Resulting in less research work to be done by our team, helping us to increase our overall productivity.” – Andy Lee at Incident Management Solutions (IMS)
Using Percayso’s Vehicle Intelligence tool gives users access to all the data needed in one place providing a wide range of comprehensive vehicle data and intelligence, ranging from vehicle valuations and specifications, provenance data, MOT history, options (ADAS) and vehicle modifications. It aggregates data from many different sources, allowing intelligence to be accessed with a simple API call at significant volume.
Customers are able to quickly and easily integrate Percayso’s tools (in typically 2-10 days) into their processes to optimise workflows and give much needed access to vehicle valuations and data, eliminating the need for time-consuming manual work and accelerating the claims lifecycle.
“Percayso’s vehicle data has been integrated into our own systems using API technology, optimising our processes and helping to facilitate the automation of vehicle valuation data within our motor engineers’ inspection reports, eliminating the need for time-consuming manual work.” – Alastair Sherwin at Covéa Insurance
In summary
Customers are using Percayso’s intelligent data to quickly generate accurate, data-backed decisions that lead to faster settlements and saving of significant costs. Percayso Vehicle Intelligence also helps fraud teams identify and block illegal claims as the data highlights suspicious non-disclosures as well as inflated valuations that could indicate attempted fraud.
It’s clear that every provider in the insurance eco-system will continue to need to make constant intelligent decisions at every stage of the insurance life cycle if they are to remain competitive. This requires the translation of multiple complex data sources into meaningful insight, so that they can price better, reduce fraud and make quick and informed decisions. Percayso’s next generation insurance insight platform is proven to deliver exactly that.

How businesses are using Percayso Vehicle Intelligence to modernise the insurance industry

We are proud to announce a new partnership with software-as-a-service provider, Acturis.
Percayso Inform will make its next generation enrichment hub available to&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://eu-west-1.protection.sophos.com?d%3Dacturis.com%26u%3DaHR0cHM6Ly93d3cuYWN0dXJpcy5jb20v%26i%3DNWY4NmM2MTg0YTZjZGEwZTIwNWY2ZjIw%26t%3DVzhQdjhOOGdhenl4WDQ2Q0FGdWtqYnFEWGdKQmdYd0ZHTDN6L3ZJb3JRRT0%3D%26h%3D19d58e73c8a7412083bb304cb4df07f0%26s%3DAVNPUEhUT0NFTkNSWVBUSVaBG6kJEKDakw_oQTEnWQ9qpiA_jPk2z-3LP5O4MCA1Qw&amp;source=gmail&amp;ust=1680789959055000&amp;usg=AOvVaw1SSUCdz8OwniWOPzF9G7Tf" href="https://eu-west-1.protection.sophos.com/?d=acturis.com&amp;u=aHR0cHM6Ly93d3cuYWN0dXJpcy5jb20v&amp;i=NWY4NmM2MTg0YTZjZGEwZTIwNWY2ZjIw&amp;t=VzhQdjhOOGdhenl4WDQ2Q0FGdWtqYnFEWGdKQmdYd0ZHTDN6L3ZJb3JRRT0=&amp;h=19d58e73c8a7412083bb304cb4df07f0&amp;s=AVNPUEhUT0NFTkNSWVBUSVaBG6kJEKDakw_oQTEnWQ9qpiA_jPk2z-3LP5O4MCA1Qw">Acturis</a>, allowing intelligence to be accessed with a simple API call at significant volume. Additionally, Percayso will also provide its ground-breaking Percayso Inform Manager low-code solution, enabling Acturis broker, MGA and insurer partners to dynamically and intuitively build, adapt and optimise their data enrichment, rating and intelligence strategies.
These services are currently available for private car, and will be extended to household over the coming months.
Hannah Crompton, Personal Lines&nbsp;Product Manager at Acturis&nbsp;,&nbsp;comments: “We’re delighted to partner with Percayso. We are always looking for ways to enhance our rating solutions so integrating with Percayso was an obvious choice, and will help to ensure our customers have access to the very best data sources to support their pricing and underwriting decisions&nbsp;.”
Percayso Inform MD, Rich Tomlinson, adds: “We’re excited to be working with Acturis and relish the opportunity to support their drive to get the best product pricing to their broker partners and to provide insurers and MGAs with access to the very latest enrichment and data services.”

Percayso Inform partners with Acturis

KEY TAKEAWAYS:
<ul>
<li>Introducing Percayso Vehicle Intelligence (formally Cazana) following <a href="https://www.percayso-inform.com/a-new-era-of-vehicle-intelligence-starts-today/">acquisition of Cazoo Data Services</a>.</li>
<li>The vehicle intelligence platform translates multiple, complex data sources into unrivalled insight at every stage of the insurance life cycle.</li>
<li>Industry will benefit from being able to write better business that is based on real time, data driven intelligent insight.</li>
</ul>
In this blog, we take a deeper dive into the detail of Percayso’s vehicle intelligence platform.
Write better business
Having the right data to make decisions is imperative for success in the motor insurance market, but with multiple, siloed internal and external data sources, it has become a complex and resource heavy task. <a href="https://www.percayso-inform.com/a-new-era-of-vehicle-intelligence-starts-today/">Percayso’s Vehicle Intelligence</a> aggregates real-time data from many sources, accessible with a simple API, providing comprehensive vehicle data and intelligence ranging from vehicle valuations and specifications, provenance data, MOT history, specifications and vehicle modifications. 
This enables insurance providers to price better, reduce fraud and make quick and informed decisions.
“The benefits of integrating the insight from Cazana into our platform are exponential. By <a href="https://www.youtube.com/watch?v=T-JqkXt3USs&amp;ab_channel=PercaysoInform">combining that data and processing it in meaningful ways</a>, you can derive additional benefits, for example: output, metrics, pricing, algorithms, fraud detection, quotes and manipulation flags, to enable you to write better business.” – Kieran Fisher at Percayso
This real-time intelligence delivers an unrivalled uplift for insurers and brokers, creating a powerful competitive advantage.
“Using Percayso Vehicle Intelligence (formally Cazana) gives us confidence that we are offering fair and accurate values to our customers, and we use the information within Companion to demonstrate that in the case of any disputes. We like that they are a digital-driven company and the valuations are constantly updated. The information available is very detailed, going as far as producing examples of vehicles which have recently been sold in the open market.” – Ian Brown at esure
Real-time data
This translation of mass-market data into real-time intelligence means users are able to go out and look at how the market and that individual vehicle is performing that day. Millions and millions of different data points provide live information ranging from what the market’s doing and how that particular vehicle’s performing against the retail market. That gives us a spectrum of vehicles that are directly comparable to be able to run that valuation proposition.
“After initial valuation, our platform allows users to go one step further and look at the specifics for that car. This provides intelligence on the vehicle’s history, and a timeline on everything that’s ever happened to that particular vehicle throughout its life cycle, such as previous MOT results on failures, dates, mileage, and ownership. It also provides financial information such as outstanding finance or PNC, if that car has been advertised previously detailing past advert specifications, descriptions, mileage and price, plus details from the manufacturers regarding vehicle specifications and technology.” – Kieran Fisher at Percayso.
The user instantly has a complete picture of everything that happens to that vehicle throughout its lifecycle. As a result, insurance providers can take this and make informed actions towards pricing and valuation whilst minimising the threat of potential fraud.
“The pricing algorithms quickly interpret and extrapolate as much information as possible from those data fields, providing the best pricing metrics to detect fraud and ultimately write better business. For claims, we now have a SaaS product called Claims Companion to help users navigate through and understand the vehicle and its specification, history and condition by looking at several data points on their screen. It provides an understanding of a vehicle’s value against similar listings as well as a detailed history timeline and is used by the governing body of insurance disputes as their preferred guide to be able to settle any disputes.” – Kieran Fisher at Percayso
Businesses are able to intuitively build, adapt and optimise their own data enrichment rating and intelligence strategies, and take control of their strategies and deployment by enabling rules and models into their environments via a SaaS and/or an API model. This is critical for both underwriting, where teams need that data via API very quickly, requiring information to be processed at speed and delivered in a standardised format, and claims.
“At the time, we were using at least three different sites and suppliers for the data we needed; however, after swapping to Percayso Vehicle Intelligence (formally Cazana) we got all that data in one place at the click of a button. Resulting in less research work to be done by our team, helping us to increase our overall productivity.” – Andy Lee at Incident Management Solutions (IMS)
A new era of vehicle intelligence
Traditional vehicle data tends to be inaccurate, expensive and outdated, leaving the industry in dire need of something new. Percayso provides the tools, intelligent data and information to change this at every stage of the insurance life cycle and provide the insight needed to write accurate insurance quotes and settle claims seamlessly.
“Now that Cazana is in-house, Percayso has a lot more control over the processing of that data and can continue to develop and push that data and unlock more potential. We’ve really become the kind of go-to one stop shop for enrichment, whether that be vehicle intelligence, product intelligence or multi-bureau data. We can build customer trust and spot fraud quicker – a compelling new approach and package.” – Kieran Fisher at Percayso
<img sizes="(max-width: 600px) 100vw, 600px" srcset="https://www.percayso-inform.com/wp-content/uploads/2023/03/lifecycle-600x118.png 600w, https://www.percayso-inform.com/wp-content/uploads/2023/03/lifecycle-1024x202.png 1024w, https://www.percayso-inform.com/wp-content/uploads/2023/03/lifecycle-768x151.png 768w, https://www.percayso-inform.com/wp-content/uploads/2023/03/lifecycle-1536x302.png 1536w, https://www.percayso-inform.com/wp-content/uploads/2023/03/lifecycle-2048x403.png 2048w" height="118" width="600" alt="" src="https://www.percayso-inform.com/wp-content/uploads/2023/03/lifecycle-600x118.png" class="alignnone size-medium wp-image-4287">
Real-time data allows all parties to work with the highest levels of accuracy and ensures that any potential risk can be identified, and accurate quotes can be priced and generated competitively. Underwriting, pricing and claims teams can all use the same service in ways tailored to their needs, ensuring they are cohesive yet consistent and transparent across the board. Third parties, the financial ombudsman, credit hire companies, all able to use the same data. But that also goes further than that. It takes vehicle intelligence and data enrichment and utilises it to provide the industry standard.
<img sizes="(max-width: 600px) 100vw, 600px" srcset="https://www.percayso-inform.com/wp-content/uploads/2023/03/cazoo-PIL-comparison-600x600.jpg 600w, https://www.percayso-inform.com/wp-content/uploads/2023/03/cazoo-PIL-comparison-1024x1024.jpg 1024w, https://www.percayso-inform.com/wp-content/uploads/2023/03/cazoo-PIL-comparison-150x150.jpg 150w, https://www.percayso-inform.com/wp-content/uploads/2023/03/cazoo-PIL-comparison-768x768.jpg 768w, https://www.percayso-inform.com/wp-content/uploads/2023/03/cazoo-PIL-comparison-1536x1536.jpg 1536w, https://www.percayso-inform.com/wp-content/uploads/2023/03/cazoo-PIL-comparison-2048x2048.jpg 2048w, https://www.percayso-inform.com/wp-content/uploads/2023/03/cazoo-PIL-comparison-25x25.jpg 25w" height="600" width="600" alt="" src="https://www.percayso-inform.com/wp-content/uploads/2023/03/cazoo-PIL-comparison-600x600.jpg" class="alignnone size-medium wp-image-4291">
By providing next generation insurance insight and tools, Percayso can deliver unrivalled uplift for both insurers and brokers, creating a decisive competitive advantage.&nbsp;
“As a business, we have great customer retention which means we have to offer the best customer service and use the best systems – and that’s why we use Percayso.”. – Alex Beckingham-Baird at NFU Mutual 
It’s clear that every provider in the insurance ecosystem will continue to need to make constant intelligent decisions at every stage of the insurance life cycle if they are to remain competitive. Complimented by the Cazana, Percayso’s solutions is set to deliver exactly that.
<a href="https://www.percayso-inform.com/lets-talk">To learn more about Percayso’s Vehicle Intelligence, speak to our team today. </a>

How Percayso is delivering next generation insurance intelligence services with leading vehicle data

Every provider in the insurance ecosystem needs to make constant intelligent actions at every stage of the insurance life cycle if they are to remain competitive. This requires the translation of multiple complex data sources into meaningful insight so that they can price better, reduce fraud and make quick and informed decisions.
Percayso understands this challenge and, with the <a href="https://eu1.hubs.ly/H02Z9Kb0">recent acquisition of Cazoo Data Services (CDS)</a>, is set to further revolutionise the vehicle data sector by providing next generation insurance insight and tools, delivering unrivalled uplift for both insurers, MGAs and brokers, creating a powerful competitive advantage.
Watch now: Announcing Percayso’s vehicle data expansion
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<h3>Turn data into knowledge&nbsp;</h3>
Percayso’s data and intelligence platform ingests and adds value to a vast array of robust datasets to provide next generation insurance intelligence services to insurers, brokers and MGAs in personal and commercial lines. Its technology aggregates data from many different sources, allowing intelligence to be accessed with a simple API call at a significant volume.
Complementing the Percayso data and intelligence platform, CDS provides a wide range of comprehensive vehicle data and intelligence, from vehicle valuations to vehicle specification, provenance data, and MOT history, ADAS specifications and vehicle modifications.
This empowers insurance providers using Percayso’s platform to intuitively build, adapt and optimise their own data enrichment rating and intelligence strategies. In addition, the platform and advanced tech allow insurance providers to take control of their own strategies and deployment by enabling rules and models to be used in their environments via a SaaS model.
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<img height="270" width="422" alt="" src="https://www.percayso-inform.com/wp-content/uploads/2023/02/PIL-CDS-features-300x200.jpg" class="alignnone wp-image-4215">
Strategic alignment Percayso and CDS 2023 and beyond
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<h3>Intelligent data to rely on</h3>
The addition of CDS to the Percayso portfolio is significant. It solidifies Percayso’s vehicle data capability, allowing valuable data to be delivered quickly and easily so that intelligent decisions can be made. To put this into perspective, CDS aggregates over a billion unique data points from various trusted sources. This information is delivered through two main mechanisms. The first is an API data feed with easy integration and interface. The second is a SaaS user interface primarily used at the claim stage when somebody wants to access a wide variety of information.
“CDS’s unrivalled database provides motor insurers with a one-stop-shop, enabling them to truly understand the risk factor of a vehicle, including its likelihood to be involved in a claim. Combining that data with our unique insurance intelligence services will enable insurers to determine potentially fraudulent activity, identify if a risk is right for their business, swiftly respond to changing market conditions and ultimately write better business.” – Rich Tomlinson, Managing Director, Percayso,&nbsp;
CDS offers insurance companies access to the largest vehicle database available, delivering unparalleled levels of information about individual cars, and it is the go-to data source for the Financial Ombudsman Service when settling claims disputes.
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<h3>Pushing the boundaries of vehicle data</h3>
Percayso are already used to quickly processing vast quantities of data – in fact, many millions every day within milliseconds. With a strong track record in innovation, these new vehicle data variables will allow all insurance providers to take full advantage of this next generation intelligent insight, to gain and sustain a competitive advantage.
“We’re really excited to integrate CDS into the team as it reinforces our desire and vision to be the best insurance intelligence provider. We believe it will transform the vehicle data market and benefit new and existing Percayso/CDS customers.” – David Kelly, Commercial Director, Percayso.
With additional new platform enhancements and new product launches on the horizon, this disruption of data enrichment is just the start of a new era of next generation intelligence services for the insurance industry.
Watch now: CDS snapshot and customer success
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<h3>Beyond traditional data enrichment</h3>
For both customers and the insurance market, integrating CDS vehicle data into the Percayso platform will unlock further potential by allowing users to gain a pricing advantage and detect potential fraud.&nbsp;
Pricing, claims, processes and procedures will benefit from the unique methodology and model CDS offers. It uses a live consumption model of mass market data to determine a vehicle’s worth, with supporting evidence, at a granular level, presented back in a meaningful way to assist in quick and confident decision-making.
“We have a whole raft of information specific to that car. So, we build what we refer to as a ‘Vehicle timeline’ which is everything that’s ever happened to that vehicle, detailed chronologically from the vehicle’s history. So, from the first registration date of that vehicle, the first day of the road, and almost every single thing that’s happened to that vehicle throughout its life is detailed.”&nbsp; – Kieran Fisher, Account Director – Vehicle Data Enrichment, Percayso
By looking for additional enrichment above and beyond basic data, it allows data sources to be combined and additional merit and benefit to be found, enabling data delivery in a consumable format.
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<h3>Summarise and interpret the data</h3>
Having data that means something and already interpreted is critical for identifying any red flags about a vehicle. This is where the lifetime vehicle data providing an accurate valuation of a car becomes particularly useful. It details vehicle modifications or pre-existing damage, for example, particularly relevant if that vehicle was ever involved in the claim because that damage was pre-existing, and the data is needed in the underwriting stage of the insurance lifecycle.&nbsp;
The vehicle data from CDS unlocks a great deal of potential whether the data is being used to price more competitively or if it is being used to look out for fraud flags. Having accurate data allows claims to be settled faster, and fairly, which of course, has operational benefits and cost savings.
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<h3>Next generation insurance intelligence services&nbsp;</h3>
The team at Percayso are excited by this new era of vehicle intelligence, enhanced by the acquisition of CDS, who together will undoubtedly be looking to continue to improve and revolutionise the insurance vehicle data industry.Find out more about how the addition of CDS to the Percayso platform will truly transform vehicle intelligence for the insurance industry by listening to the replay of our latest <a href="https://eu1.hubs.ly/H0360MW0">announcement videos</a>. Or get in <a href="https://www.percayso-inform.com/lets-talk">touch with the team today</a>.