German software provider compares quality of motor coverage as well as price
Acturis has entered Europe’s largest insurance market with the purchase of motor insurance software provider Nafi.
Nafi calculates motor rates on behalf of over 80 insurers, and can generate 400 prices for every quote. It calculates the prices on behalf of Germany’s software houses, which in turn feed the tariffs through to brokers.
It also provides comparisons which look at the breadth and quality of coverage as well as the price, and powers the quote-and-buy websites of some of the country’s fast-growing aggregators.
In addition, Nafi provides trend and performance analysis information to insurers.
Acturis plans to use the acquisition to roll out more of its products and services to Germany.
Acturis co-chief executive David McDonald said: “Germany is strategically the most important country for Acturis outside of the UK and the opportunity to build on our UK experience and innovate in Germany excites us greatly.
“Innovation has always been at the heart of the NAFI thinking, and we have a shared vision for how the insurance market and e-trading may develop in Germany.”
Nafi employs 24 staff and its annual turnover is €4m, meaning Acturis now has over 300 employees and an annual turnover of £40m.