Insurance Data Solutions

In an increasingly competitive market, it is becoming more difficult for insurers to gain competitive advantage, putting even greater emphasis on increasing revenues and reducing costs.

Making smarter and faster use of data assets to engage more relevantly with customers is key. Through advanced modelling and analytics underpinned with deep learning, Outra has a range of data solutions that are proven to meet the objectives of both Marketing as well as Risk and Pricing. Whether that be to improve the customer experience or maintain relationships, or to manage risk and optimise pricing.

Our insurance suite of products is built from our proprietary Property Data set which pulls from over 50 data sources and provides the most accurate residential property information available. With 500+ variables relating to the property and its locale, we can accurately identify property details, planning applications and energy attributes.  

Manage Risk & Optimise Pricing with Home Insurance Reinstatement Model 

To gain a comprehensive view of potential risk, insurers need to be able to rely on accurate data that can be applied to every decision. Outra has created a number of key variables that can support insurers in identifying potential risks including; water escape – understanding the number of bathrooms, flat roofs and any building works undertaken on a property, size; gaining an accurate view of the number of bedrooms and square footage of the property.

By accessing Outra’s unique Home Insurance Reinstatement Model you can be assured that you are providing the most accurate pricing. Our model provides nearly 90% penetration of 29.1M homes in Great Britain and is easily accessible via the Outra API. The model is refreshed monthly and GDPR compliant with clear provenance and is accompanied by confidence scores giving you the autonomy to create your own thresholds around policy pricing.

Communicate with your customers at the right time with Home Move Triggers

It is significantly more cost effective to retain existing customers than acquire new ones. You can do this by predicting your customers next move and communicate with them in a timely manner. To help you do that, we combine our proprietary Property Data with your customer data and apply leading-edge deep learning to develop 130,000 monthly Home Move Triggers accompanied by confidence scores. Triggers can be delivered in batch or via the Outra API.

Improve the quality and quantity of online applications with Home Insurance Form Fill

55 million policy purchases are abandoned each year during the application process. Our Home Insurance Form Fill solution is built on proprietary Property Data and includes our unique Home Insurance Reinstatement Model. Pre-populating your online applications using the Outra API will make it easier and quicker for your prospects to complete and gives you more accurate information. We provide confidence scores against each modelled variable, enabling you to choose which variables you want to include.

Please get in touch to discuss how Outra can drive results or request a FREE DEMO