Allianz signs long-term data supply deal
Allianz, one of the largest general insurers in the UK, has signed a new three-year deal for the supply of data to its business.
Callcredit Marketing Solutions will become the primary data supplier for long-term pricing and marketing strategy. The deal was struck following a head-to-head test against rival providers involving a full assessment of all data variables and marks an important step in closing the gap between marketing and risk.
Michael Blackburn, head of pricing development, Allianz Retail says:“It’s the first time that Allianz has used such detailed marketing data within the pricing process, so this is a really interesting test bed for us. Our initial investigations illustrated that these datasets were extremely powerful in predicting risk cost, so we look forward to implementing them into our pricing strategies going forward.”
As part of the deal, Callcredit Marketing Solutions will provide its Cameo consumer segmentation solution alongside other demographic indicators. Credit risk variables at postal sector, postcode and individual level will also be supplied. Allianz will deploy the data sets to develop “pricing for risk” policies as well as strategies for customer acquisition, retention and cross-sell on its home, car and life insurance products.