London, August 2012 - Admiral Group, one of the UK’s largest and most profitable private car insurance specialists, is investing in the quality of its online searching system through a new partnership with Equifax, the leading credit information and analytics expert. Under the new agreement, Equifax's extensive data sources and analytics will help Admiral ensure optimum performance across its entire operation to enhance the customer experience and its competitive edge.
Alongside its leading UK private car insurance business, Admiral Group also owns Confused.com, one of the UK’s largest price comparison websites, and Gladiator, a commercial vehicle insurance broker. Outside the UK, the Group has four car insurance and three price comparison operations with a presence in seven countries. Today, the Group insures over 3.4 million vehicles and employs over 6,000 members of staff worldwide.
In today’s competitive market, Admiral needs instant access to powerful intelligence that allows it to price effectively whilst reducing the risk of claims fraud, but without compromising the level of service it offers its customers. Designed specifically for the insurance sector, which is currently facing increased fraudulent claims and decreased customer loyalty, Equifax’s online database provides real-time access to its Credit Reference Agency (CRA) data. As a rich source of consumer information, this product empowers insurers by providing the intelligence required to set accurate premiums and assist with credit granting decisions, whilst reducing the risk of claims fraud and improving loss ratios.
Combined with Equifax’s analysis expertise, Admiral benefits from valuable intelligence that can be hosted within its own systems to drive profitable premium pricing and risk management.
“Admiral chose Equifax due to its high availability and the rapid on-line response of its bespoke insurance offering, allowing us to be competitive in the on-line channels” said Rhodri Charles, UK Pricing Manager for Admiral. “Equifax’s flexible approach to our requirements made it the only choice. The Equifax team works closely with us, ensuring we get the optimum data to meet our complex needs. We operate in a highly competitive market and the quality of Equifax’s data gives us the competitive edge we need.”
“This is a significant win for Equifax and further demonstrates the value of our tailored solutions in helping the insurance marketplace combat fraud and streamline processes,” added Stuart Smith, Business Development Director for Insurance at Equifax.
“Our system has been developed to support high volumes of searches without slowing down Admiral’s response times, ensuring it continues to meet the demands of its customers. We will continue to work closely with Admiral to ensure the company can maximise the benefits of our online searching expertise, bringing crucial fraud protection.”
For further press information please contact: Wendy Harrison, Cecile Stearn, Jenny Thorneywork or Clare Watson at HSL on 020 8977 9132 / Fax: 020 8977 5200 or Email: email@example.com.
Equifax is a global leader in consumer, commercial and workforce information solutions, providing businesses of all sizes and consumers with information they can trust. We organize and assimilate data on more than 500 million consumers and 81 million businesses worldwide, and use advanced analytics and proprietary technology to create and deliver customized insights that enrich both the performance of businesses and the lives of consumers.
Headquartered in Atlanta, Equifax operates or has investments in 18 countries and is a member of Standard & Poor’s (S&P) 500® Index. Its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. For more information, please visit www.equifax.com.
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