Hiscox: Dynamic Data Ingestion offers Market Leading Pricing Intelligence
Hiscox, a leading provider and underwriter of specialist insurance services wanted a mechanism for performing real time price comparison and market intelligence against their competitors on the UK market.
Challenge
Given that most UK insurance companies don't offer an API for gathering price information, the major challenge was how to regularly, accurately, and quickly gather pricing data from competitors
Solution
Colibri Digital developed a cutting edge Dynamic Data Ingestion web scraper based on some of the very latest technologies to dynamically generate and extract price quote information from competing UK insurance websites. Hosted on AWS, and leveraging the power of the Amazon cloud, the application was able to regularly gather pricing information and store it in a centralised repository.
Dynamic Data Ingestion layered on a set of visualisations, leveraging the power of the customers existing Datarama subscription to offer rich visualisations and business intelligence
Results
Hiscox underwriters are now able to view how competitive they are on the UK insurance market across a range of bespoke and boutique insurance products in near real time. Where previously this process would either have been manual, or based on monthly sales volumes, underwriters are now able to adapt pricing in real time to changes in market and competitor trends and offers.