The partnership will see the two companies work together to identify opportunities to combine their data to produce powerful industry insights and better serve client needs, starting with a special report later this year.
Insurance DataLab co-founder Dan King said he was excited to be strengthening the relationship between the two companies, and looked forward to delivering an enhanced data offering superpowered by the combined strengths of the data sets available through this partnership.
"We are delighted to be deepening our partnership with Consumer Intelligence," he said. "By working more closely with each other we will be able to provide data solutions that deliver more actionable insights for the insurance industry.
“Not only will this help our insurer partners to better understand the market, but it will also allow them to produce fairer outcomes for their customers while simultaneously improving their performance.”
Consumer Intelligence CEO Ian Hughes shared this enthusiasm, and said that the new partnership "couldn’t come at a better time for the market".
"Never has there been more uncertainty," he said. "The implementation of the new pricing rules and the cost-of-living crisis are fundamentally changing the landscape of general insurance.
"At Consumer Intelligence, our purpose is to help build confidence in financial services, and by working together with Insurance DataLab we will have even better resources to do this together. Data and insights play a pivotal role in helping insurance businesses make confident decisions in the face of pricing volatility and changing consumer behaviour.
"It has been a pleasure working with Matt and Dan over the last year as they’ve evolved Insurance DataLab from concept into reality," he added. "They have developed a compelling data proposition which complements our own capabilities, building an increasingly comprehensive picture of what is happening out in the market for our clients. We are delighted to announce our official partnership and look forward to it bearing fruits as the year progresses.”
