Hastings Strengthens Household Underwriting Capabilities with Verisk’s UKBuildings, Robust Building and Property Data
05 Marzo 2024 - 3:00AM
UK Regulatory
Hastings Strengthens Household Underwriting Capabilities with
Verisk’s UKBuildings, Robust Building and Property Data
LONDON, UK, March 05, 2024 (GLOBE NEWSWIRE) -- Verisk (Nasdaq:
VRSK), a leading global data analytics and technology provider, is
pleased to announce that Hastings Direct, the technology driven UK
insurance provider, is enhancing its household underwriting service
capabilities through licensing Verisk’s UKBuildings.
UKBuildings is a comprehensive and highly granular property
database for an organisation or industry interested in accurate
buildings data including, but not limited to residential and
commercial insurance underwriters.
The addition of Verisk's UKBuildings data to Hastings Direct’s
underwriting services toolkit will enable the company to refine its
risk assessment and underwriting analysis to meet the needs of its
insurance underwriter by providing valuable insights into various
property attributes, including basements.
“Following the completion of a rigorous data test affirming the
reliability and accuracy of Verisk’s UKBuildings, we were
particularly impressed by the solution’s high level of detail and
its ability to identify residential properties with basements,”
says Simon Parker, Head of Household Underwriting, Hastings Direct.
“The rich dataset will empower more informed decisions, strengthen
risk management capabilities, and ultimately enhance the overall
customer experience."
Alex Croydon, managing director of general insurance UK at
Verisk, added: “We are excited to support Hastings in its mission
to accelerate growth and improve its household insurance book. Our
UKBuildings data is designed to help provide insurers with a
comprehensive understanding of property attributes, and we are
confident that this collaboration will yield positive outcomes for
both parties."
About Verisk
Verisk (Nasdaq: VRSK) is a leading strategic data analytics and
technology partner to the global insurance industry. It empowers
clients to strengthen operating efficiency, improve underwriting
and claims outcomes, combat fraud and make informed decisions about
global risks, including climate change, extreme events, ESG and
political issues. Through advanced data analytics, software,
scientific research and deep industry knowledge, Verisk helps build
global resilience for individuals, communities and businesses. With
teams across more than 20 countries, Verisk consistently earns
certification by Great Place to Work and fosters
an inclusive culture where all team members feel they
belong. For more, visit Verisk.com and the Verisk
Newsroom.
About Hastings
Founded in 1996 in Bexhill-on-Sea on the Sussex coast, the Hastings
Group is one of the leading general insurance providers to the UK
market, with 3.5 million live customer policies and employing over
3,300 colleagues.
The Group provides simple and straightforward products and
services to UK car, bike, van, and home insurance customers with
around 90% of policies directly underwritten by its Gibraltar-based
Underwriting business, Advantage Insurance Company Limited.
For more information visit the Hastings Group website.
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