Market-leading Data as a Service (DaaS) InsurTech WhenFresh today announced a major move direct into the Insurance sector following successful series A funding.
WhenFresh leads DaaS in other sectors, including Financial Services, Utilities, and Property. Bringing data together from over 200 private and public UK data sources into one place, WhenFresh offers a live, verified, fully-provenanced database of unrivalled breadth and depth.
In recent years, many of the UK’s businesses have benefitted from WhenFresh’s big data solutions, which have often formed a key part of wider solutions delivered to end users via resellers and partners such as Experian, Equifax, Zoopla, CLS Risk, Royal Mail Data Services, TransUnion, and others.
WhenFresh successfully secured £3m Series A funding to support accelerated product development and continued expansion into its target markets, and is now laser-focused on working directly with the Insurance sector, as its next fast-growth market.
Commenting on the move, WhenFresh’s CEO Mark Cunningham said: “Over the last few years we have built a great business, with a fantastic team of data scientists and data-driven marketeers, who have created ground breaking innovations to other sectors.”
He added: “The insurance sector can now benefit from this, as WhenFresh’s market-leading products, Home Insurance Prefill and the Behind the Bricks API, offer insurers the ability to win new business, reduce customer acquisition costs, target more profitable business, and renegotiate reinsurance costs by more accurately analysing portfolio risk.”
Looking ahead, and building on other sector successes, WhenFresh’s big data solutions are set to make a huge impact on the Insurance sector in 2019.
WhenFresh’s Home Insurance Prefill is an off-the-shelf solution, which gives insurers 7 core characteristics on each of the 29.7m residential properties in the UK, for online form prefill and other insurance applications.
The Behind the Bricks API brings instant ‘plug and play’ access to over 2bn UK property-specific data items, with a unique, comprehensive set of risk and peril characteristics in addition to the core property data of which the Home Insurance Prefill product forms part.
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