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ABC and Highway car products sold through Open GI will now be subject to third party data enrichment at point of quotation. This new service allows for a more accurate assessment of claim risk meaning that brokers will have access to accurate quotes immediately.
The use of this data enrichment service will also help combat fraud as it will enable access to third party information at the beginning of the sale process rather than further down the line.
Michael Lawrence, LV= Broker Personal Lines Director, said: "The launch of this service will help us to offer more tailored quotes to our broker partners’ customers across both ABC and Highway car products. We are committed to making it easy for our brokers to do business with us and we will continue to develop our online strategy with Open GI in these kind of initiatives.”
David Kelly, Distribution Director, Open GI said: “Data enrichment is an important step forward to help the insurance industry to reduce risks and combat rising fraud in motor claims. By introducing third party data ‘look-ups’ at the point of sale, data can be shared securely and made available on one system, allowing insurers to use real-time rating to have a better understanding of risks and write for profitable growth. With this new development, brokers will be able to compete more effectively and ultimately benefit from more competitive rates.”
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