New capability automatically provides insurance firms with over 50 pieces of information about properties looking to be insured
CDL has partnered with location intelligence specialists GBG to offer customers new property data services, Insurance Times can reveal.
GBG’s Loqate data will be integrated with the technology firm’s retail solutions, giving insurance companies over 50 pieces of new information about properties.
This includes information on building volume and burglary rate.
CDL said it will help firms aid verification, evaluate risk more effectively and produce better-informed rating decisions.
At the customer end, the CDL said it would also reduce the number of questions that the insurer needed to ask the home insurance applicant about their property.
Allianz, Legal & General and Homelyfe are among customers to use the Loqate data already.
Commenting on the launch of the new service, CDL partnerships director Nick Jackson said: “I’m delighted that we are now working with GBG to add industry-leading property data to our range of enrichment sources.
“Loqate is outstanding in terms of its range and quality of data, so I’m confident that it will bring real benefits to both our insurer and intermediary customers.
“We already have firm interest in using the solution for data enrichment purposes, as well as to enhance consumer experiences.”
John Bellis, channel partner manager for Loqate, said: “Property intelligence data will give CDL’s clients a huge competitive advantage, enabling improved risk assessment and more streamlined operations.
“Not only this, but our dataset will also help insurers to reduce costs through understanding the complete picture and physicality of a property, as well as its history.”
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