Digital Fineprint
Award Category
Finalist Insurtech
Innovation - DFP Risk Atlas
Digital Fineprint (DFP) is an insurance technology provider that solves data challenge in
commercial insurance and enables insurers and brokers to build more profitable, longterm
relationships with SMEs.
Our award-winning technology, DFP Risk Atlas helps the insurance community profile
SME risk and enable profitable growth. Technically, we use AI and data analytics to
automate research and analysis on SMEs. DFP technology combines our analysis of the
open data on the UK’s 5.7 million small businesses with our insurance partners’
proprietary knowledge to deliver bespoke, live, instantly actionable insights.
Our platform supports every stage of the insurance distribution process helping to:
ï‚· Find and target new customers by business type, location, size and more
ï‚· Increase conversion rates by helping insurers to act on in-depth customer
knowledge
ï‚· Cross-sell and up-sell to existing SME clients
ï‚· Grow customer lifetime value by staying on the top of their business changes
ï‚· Underwrite smarter and faster, containing loss ratios and relatively low cost.
Therefore, by enhancing all aspects of the distribution performance, we help insurers
and brokers to transform the way they communicate with their SME customers, simplify
the workflow, encourage business growth and improve marketing and customer service
KPIs.
Impact on the industry
Small businesses make up a huge share of the UK economy and they often need a
personalised approach regarding their business risks. DFP’s technology significantly
improves the SME analytics for commercial insurance community and delivers
operational excellence in a cost-effective manner.
We answer the three main challenges facing insurers and brokers today. We make
sense of disparate data on UK SMEs, help to answer to changing customer preferences
and move our clients up the insight scale to reduce underinsurance for small
businesses. By equipping, empowering and enabling the insurance industry with the
right tools to generate actionable SME insights, we help to protect all small businesses.
DFP already helps leading insurers including QBE, Hiscox, Euler Hermes and others to
gain the most of the open data and transform the way they serve SMEs. We also
partnered with Salesforce and DXC Technology, thus strengthening our offering. The
Insurance Post recently named us the ‘Best Insurance Technology Supplier’ and Zurich
Insurance named us their ‘Best UK Innovation’ in the UK.
Measurable outcomes
The scale of development at DFP has been phenomenal, with increased revenues over
3x, secured $3.1m in funding from Pentech Ventures, Eos Venture Partners and a range
of angel investors, and expanding the team from 2 to 30 people.
We deliverer ROI and measurable outcomes for our clients and partners. Thus, in the
partnership with Hiscox, DFP technology was used to improve their online customer
journey and tackle SME underinsurance using open data and AI. Our product
recommendation tool, Convert helped Hiscox to significantly reduce the time spent
filling out quote forms and receive a product recommendation, identified £5m
projected GWP uplift with more effective cross-selling.
In our ongoing long-term partnership with QBE, our technology completely changed
QBE’s approach to direct, targeted performance advertising and engagement. In 2019
alone, QBE achieved an overall boost in awareness and engagement with over £31m of
identified premium upsell in commercial market, reached 10 million impressions and
driven over 46k new leads to their website. In the last 8 months, our campaigns for QBE
have featured 3 times in the global week on week top performing FS content. QBE now
outperforms the group average of their nearest 10 competitors across all metrics for
reach, engagement and click through.
Being recognized by the Digital Insurer in StartUp InsurTech Awards 2019 would be an
honour and a privilege for our team, who are working tirelessly to help serve insurers,
brokers and their SME clients all across the UK. We want to thank you for considering us
for this prestigious award.