23 February 2023 – Insurance data intelligence provider, Percayso Inform, today announced a major step forward in its plans to increase its footprint across the UK motor insurance market with the acquisition of Cazana, which will be known as Percayso Vehicle Intelligence going forward.
Originally founded in 2012, Cazana grew to become one of the leading data insight platforms in the European automotive industry and was acquired by Cazoo in 2021.
Trusted by six of the top 10 UK motor insurers and serving over 40 clients, Cazana offers insurance companies access to the largest vehicle database available. Covering over one billion unique data points, it delivers unparalleled levels of information about individual cars and it is the go-to data source for the Financial Ombudsman Service when settling claims disputes.
“Cazana have been our motor data partner of choice since we launched our insight as a service offering to the UK insurance market back in 2019 and their data tools are relied upon by some of the biggest names in insurance,” explains Percayso’s Managing Director, Rich Tomlinson. “When the opportunity arose to bring those services under the Percayso banner, we saw it as one that we had to take.
“Cazana’s unrivalled database provides motor insurers with a one-stop-shop, enabling them to truly understand the risk factor of a vehicle including its likelihood to be involved in a claim. Combining that data with our own unique insurance intelligence services will enable insurers to determine potential fraudulent activity, identify if a risk is right for their business, swiftly respond to changing market conditions and ultimately write better business.”
Percayso’s data and intelligence hub ingests and adds value to a vast array of powerful datasets to provide next generation insurance intelligence services to insurers, brokers and MGAs in personal and commercial lines. Its technology aggregates data from many different sources, allowing intelligence to be accessed with a simple API call at significant volume.
This empowers insurance providers to use Percayso’s platform to intuitively build, adapt and optimise their own data enrichment, rating and intelligence strategies. Its platform and advanced tech allows insurance providers to take control of their own strategies and deployment by enabling rules and models to be used in their own environments via a SaaS model.
Tomlinson concludes: “This is a transformational deal for our business. We’ve made considerable headway in the motor market over the past three years, most significantly announcing our partnerships with Somerset Bridge and Ageas. Acquiring Cazana will provide a springboard for us to grow our relationships with the motor insurers already using their services and I believe will open the door to many new opportunities.”
Kieran Fisher will be leading the ongoing development of Percayso’s vehicle data insight proposition which will include the additional capabilities that the acquisition of Cazana brings.
Kieran held the position of Head of Insurance at Cazana for five years and is a well-known figure in the vehicle data sector.
Financial details of the acquisition will not be disclosed.