Concirrus > Case Studies > Increased Visibility of Automotive Risk Results in Business Growth

Increased Visibility of Automotive Risk Results in Business Growth

Technology Category

Analytics & Modeling - Big Data Analytics
Platform as a Service (PaaS) - Data Management Platforms

Applicable Industries

Finance & Insurance

Services

Data Science Services

The Challenge

Acorn Insurance operates in a very competitive market where margins are continuously squeezed. Acorn was looking for a way to enhance its current premium pricing techniques to deliver fair pricing for traditionally high-risk clients.

rentE, an on-demand car hire service, traditionally categorized as high-risk by insurers, was restricted by high insurance premiums. With rentE’s innovative business model, it was apparent that more accurate risk insights were needed to obtain a fair premium.

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The Customer

Acorn Insurance

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About The Customer

Acorn Insurance is an Irish-owned insurance broker based in Galway. We are experts when it comes to finding you the perfect car, home & health insurance.

Over 40 years of experience helping people secure the right taxi, car, van, motor trade, and home insurance, all across the UK. As a specialist insurance provider, able to offer a wide range of insurance policies tailored to you. Highly experienced insurance experts are on hand to help find an insurance policy that is just right!

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The Solution

Using the Quest Automotive Commercial platform, dash cam and telematics data were captured and analyzed. The analysis provided detailed insights into rentE client driving behavior enabling Acorn Insurance to price a premium that was fair, competitive, and reflected the true level of risk within the fleet.

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Operational Impact

[Financial Growth - Profit Margin]
The analysis provided detailed insights into rentE client driving behaviour enabling Acorn Insurance to price a premium.
[Data Management - Data Analysis]
Using the Quest Automotive Commercial platform, dash cam and telematics data were captured and analyzed.

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