Cazana, data provider to the insurance sector, is working with claims handling company and managing general agent Somerset Bridge to improve its understanding of its motor book.
Typically a provider of vehicle valuation, fraud prevention and provenance checks to insurance claims teams, Cazana expanded its capabilities in 2020 to provide new automotive insights to underwriters, brokers and price comparison websites.
As an established Cazana client, Somerset Bridge was offered early access to this new dataset. Following a rapid deployment, it became clear that the data were able to identify significant new risk/pricing insights.
By combining DVLA feeds, dealership feeds and a wide variety of other website data, Cazana is now able to build an individual passport for every vehicle including a timeline of key events, previous adverts, MOT history, modifications, and any advanced driver-assistance system features fitted. The data can be consumed in real-time at point of quote, renewal or claim.
Lisa Allan, director of operations at Somerset Bridge, said: “As part of our ongoing quest to further modernise motor insurance, we took the decision very early on to deep-dive the new datasets created by Cazana. We were impressed with what we found, and we’ve now committed to building a long-term partnership with Cazana, as we continue to evolve and assess how we better assess risk.”
Tom Lawrie-Fussey, commercial director at Cazana, whose other customers include Sytner Group, Copart and Confused.com, added: “We’ve learned a great deal from the close collaboration we’ve enjoyed with the Somerset Bridge team throughout this process.”
“We see this as just the start of a much broader collaboration between our respective organisations, and I’ve no doubt this partnership will grow further as Cazana develop yet more datasets that help us to translate and deliver further vehicle insights to insurers.”