AXA adds further layer to data enrichment programme with Callcredit deal
AXA has further enhanced its pricing capabilities in a deal with Callcredit Information Group, which will provide the insurer with greater access to credit checking and behavioural data tools.
The Callcredit tool, which collates data from public records such as the electoral roll and County Court Judgements, will provide AXA with the ability to better understand individual risks and price those risks more accurately.
The partnership with Callcredit is the latest development in AXA’s data enrichment programme following the announcement of a similar deal with Lexis Nexis earlier in the year.
Jon Mitchell, Operations Director at AXA Commercial Lines and Personal Intermediary, said“We are delighted to have signed this deal with Callcredit as it adds even greater strength and accuracy to our existing pricing capabilities.
“The age of demographics-based pricing is coming to an end and AXA will continue to invest in ‘big data’ and our own capabilities to deliver the most accurate underwriting and pricing to brokers and customers as we can.”
Peter Mansfield, Managing Director at Callcredit commented “We are delighted to be working with AXA as their preferred supplier of bureau data as part of their data enrichment programme.
“Callcredit is fully committed to the continued development of our key relationships across the insurance sector, and the solutions which are at the heart of that. We look forward to supporting AXA through the ongoing improvements this programme will bring to their pricing and underwriting capability.”
The data enrichment tools will be applied to AXA’s home, motor and commercial vehicle portfolios.