Simply Business signs data deal to bolster decision making

Business and landlord insurance provider Simply Business has teamed up with LexisNexis Risk Solutions to get more granular data on the properties and people they insure.

A statement released today (31 October 2023) said the deal will see Simply Business get access to a range of datasets on residential property characteristics, perils and the individual proposer.

This will be done by the firm connecting to LexisNexis’ informed quotes platform, which will also help support it make faster and more informed decisions.

Alan Thomas, chief executive of Simply Business, said: “We pride ourselves on offering simplicity, choice and value to all of our customers – whose insurance needs are always evolving.

”We’re pleased to partner with LexisNexis to help further simplify the insurance purchasing journey for our customers, while ensuring their businesses and properties are adequately covered.”

Efficiency 

Simply Business said the deal would also help it further ensure that small businesses have the cover they need as they face major cost pressures.

Earlier this year (23 March 2023), Allianz said that 71% of small and medium sized enterprises (SMEs) felt the cost of living crisis was having a negative impact on their business, while some 46% said they changed the way they were operating in order to save energy.

Dan Cicchetti, senior director of client engagement LexisNexis Risk Solutions, said partnering with Simply Business would help the insurance provider serve small businesses “more efficiently”.

“We are delighted to work with Simply Business as they work to better serve their landlords, small businesses and self-employed individual customers,” he added.

“We know LexisNexis informed quotes can help eliminate unnecessary delays, support the due diligence process and reduce friction with the customer.

“By delivering deeper client insight, our data enrichment solutions should help Simply Business serve the small business community ever more efficiently.”