Managing director describes purchase as ’a transformational deal’
Online car retailer Cazoo has sold its used car data insights platform Cazana to data enrichment company Percayso Inform for an undisclosed sum.
Following the transaction, Cazana will be known as Percayso Vehicle Intelligence and will sit under the remit of Percayso Inform’s account director, Kieran Fisher, who joined the insurtech in June 2022.
Fisher previously worked at Cazoo as its head of insurance between June 2017 and June 2022.
Percayso Inform acquired Cazana in a bid to increase its UK motor insurance market footprint.
Its managing director Richard Tomlinson said: “Cazana [has] been our motor data partner of choice since we launched our insight as a service offering to the UK insurance market back in 2019 and [its] data tools are relied upon by some of the biggest names in insurance.
“When the opportunity arose to bring those services under the Percayso banner, we saw it as one that we had to take.”
Transformational deal
Tomlinson continued: “This is a transformational deal for our business.
”We’ve made considerable headway in the motor market over the past three years - most significantly announcing our partnerships with Somerset Bridge and Ageas.
”Acquiring Cazana will provide a springboard for us to grow our relationships with the motor insurers already using [its] services - I believe [this] will open the door to many new opportunities.”
Percayso Inform currently works with insurers, brokers and MGAs across both personal and commercial lines. It uses technology to aggregate data from different sources, accessible via an application programming interface (API), to provide data enrichment and intelligence services.
Cazana, meanwhile, was founded in 2012. After seeing some success in the European automotive industry, the business was bought by Cazoo in 2021 for £25m.
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Tomlinson said: “Cazana’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 own unique insurance intelligence services will enable insurers to determine potential fraudulent activity, identify if a risk is right for their business, swiftly respond to changing market conditions and ultimately write better business.”
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