SWINTON GROUP SELECTS EQUIFAX FOR ID VERIFICATION FOR ALL NEW BUSINESS QUOTATIONS
Streamlined access to ID and Consumer Information gives Swinton competitive edge across all its distribution channels
London,September 2012 - Swinton,the UK’s largest high street personal lines insurance intermediary,has strengthened its competitive position by helping its insurer panel protect against fraud and price more effectively. In a major new contract with leading credit information and analytics expert, Equifax, the latest ID fraud solutions are being used by Swinton to validate the identity of new customers. Equifax’s extensive data sources have also been integrated into the Swinton quotation engine to determine the claims risk of customers.
Swinton Group Ltd services the insurance needs of approximately 2 million customers through its national network of over 500 branches as well as a number of specialist units and call centres. It also has a strong ecommerce proposition which includes links to over 30 price comparison sites.
Operating in the highly competitive personal lines insurance space, Swinton needed to be able to deliver a high quality service to its insurer panel. By creating a tailored solution, the integration of Equifax data and analytics has enhanced Swinton’s position with its insurer panel, whilst ensuring minimum impact on its day to day business.
“As a market leading intermediary, we needed to be certain of both fast response times and high availability to quality data,” explained Chris Collings’, Insurer Development Director at Swinton.“We can only retain our competitive position with our insurer panel if we can deliver the right quality of quotations,without delay.
“Equifax’s dedicated Insurance team understood this need very clearly and, gave us the confidence of quality and speed.”
The wealth of up to date and accurate information available from Equifax has been fully integrated into the customer application process at Swinton, to help lower loss ratios with their insurer panel. “Swinton works in a highly competitive market, operating across a number of distribution channels and we had to deliver a set of consumer information and ID solutions that could support the high volume of quotations without compromising on response times,” added Stuart Smith, Business Development Director for Insurance at Equifax. “We, therefore, worked closely with Swinton to develop a bespoke data delivery system, tailored to Swinton’s needs, as well as offering consultancy support to ensure it utilises our best of breed solutions.
“This latest contract further demonstrates the tailored solutions and expertise Equifax is delivering in the insurance marketplace, providing crucial fraud and business retention support. We aim to empower insurers and brokers, giving them the intelligence required to set accurate premiums and assist with credit granting decisions whilst reducing the risk of claims and claims fraud.”
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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 17 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