Established in 2012, WhenFresh Ltd is a Data-as-a-Service (DaaS) business which services various sectors including Financial Services and Insurance. It helps in bringing together data from 200 private and public UK data sources in one place. The database is live and verified. The company is led by Mark Cunningham who is the co-founder and CEO and the team he has built comprises of data scientist from top companies including Tesco, Microsoft.
It has built Home Insurance Prefill solution which provides insurers 7 core characteristics on each of the 29.7m residential properties in the UK, for online form prefill and other insurance applications. The 7 core characteristics are included in the snapshot below:
The solution allows insurers to make insurance forms quicker and easier for consumers, reduce form abandonment, improve the quality of form completions and quantity and help in driving acquisition costs.
Its another offering is BehindtheBricks API brings instant access to over 2bn property-specific data items which has risk and peril characteristics in addition to the core property data which includes Home Insurance Prefill product forms.
The data can help insurers to pick the data they want to use them to provide better solutions to the homeowners.
Earlier this year, it has made a major entry into the insurance market following its successful series A funding of GBP3 billion. The investment will help to accelerate its product development and scale-up in its target markets.
Recently, it has entered into a big data partnership with Uinsure Ltd., a GI insurer for their “Zero Question Asked” GI quotation solution. The functionality requires the users to key-in the homeowner’s title, name, date of birth and postcode need to be completed before a binding quote for Uinsure’s home insurance is returned from a panel of insurers. Once the quote is returned, advisers can then review the quote and tailor it to the customers’ needs and add any additional cover options such as Legal Expenses or Home Emergency, again with instant price updates within the same results screen. Advisers can list any item and its value and the Uinsure system will automatically allocate it appropriately in the policy.
The solution is expected to disrupt the home insurance market and help Uinsure to achieve its goal of a 100% GI quote to mortgage penetration rate thereby improving the outcome for customers across the UK.
WhenFresh brings together over 200 private and public data sources
WhenFresh data and Uinsure’s capabilities when combined will help in improving quotations and help the home insurance market to tap into the overall market potential.
David Smith, Chief Innovation Officer at Uinsure, said: “This is without a doubt one of the most significant changes to have ever taken place in the GI industry. Uinsure’s mission is to change the insurance industry for the better. With our Zero Questions Asked quotes, we’ve once again achieved this and will take a large step forward towards our goal of a 100% GI quote to mortgage penetration rate – improving the outcome for customers across the UK.”
