The insurance industry faces many challenges, brought about by new regulations and technologies, competitive pressures and consumer power. As the pace of change rapidly increases, it is essential that companies not only keep up, but also develop strategies for the future if they are to succeed and, ultimately, survive in the marketplace.
In order to strengthen market position, Insurers must utilise technology and leverage information to their own advantage. This involves ensuring those who make important business decisions have access to accurate, up-to-date and in-depth information.
ICC Information is ideally placed to help insurance professionals achieve their aims. ICC owns comprehensive databases of UK and Irish businesses, shareholders and directors and. through a wide range of information solutions. are able to meet the specific needs of the insurance industry.
ICC's 24-hour web services Juniper and Juniper XD can be used to gain access to:
Insurance processes that require ICC's unique information services include:
Underwriting
Underwriting requires accurate, up-to-date information about existing and potential clients. The benefits of using ICC Information include improved shareholder value through improved underwriting performance and maintenance of competitive advantage.
Mergers, acquisitions and consolidation
Mergers, acquisitions and consolidation create corporate giants, many of whom want to operate internationally. As companies merge, so does their information. Insurers are able to realise the synergy benefits more quickly if there is access to accurate information on a merged company's customer and supplier databases. ICC gives instantaneous access to information, assisting in the decision-making process and helping to create expertise in regulation and compliance.
Policy writing
It is essential in policy writing that insurers are able to confirm the identity of company directors before writing a policy based on the information at hand. Utilising ICC Information will allow immediate access to 7.4 million directorships in the UK and Ireland, removing the risk (and cost) of getting it wrong.
Driving the insurance sector into the digital age
Quality of information is essential to the insurance industry but so too is the manner in which it is accessed. ICC Information works in partnership with clients to deliver a range of information solutions tailored to meet the client's specific needs. With 24- hour access to the database via ICC's website, users are able to find comprehensive, high quality information and analysis for the Insurance sector, every time they require it.
