INSURTECH innovator RDT has integrated its software with yet another data provider, giving insurers access to even more of their customers’ claims history at point of quote and first notification of loss.
The insurance software provider has integrated its centralised rating platform with the CRIF Decision Solutions Radar data product. The integration means that users of RDT’s powerful rating platform Equator will be able to see more highly detailed information about the claims history of an individual applying for insurance.
Third-party enrichment is key to assessing risk as it means that bad risks can be avoided at point of quote, fraudsters are spotted far more easily, and customers receive tailored quotes. Equator draws on a huge range of data enrichment sources including Experian, LexisNexis, MIB and Synectics to create a highly detailed and meaningful picture of a customer. The CRIF data adds a powerful new dimension to Equator’s assessment of motor insurance.
RDT CEO Mark Bates said: ‘Driving down loss ratios relies on understanding the customer and risk better than your competitors. Integration with CRIF provides us with yet more granular data on which our customers can automate their underwriting and claims decisions, providing an even more compelling platform for their digital transformation.’