In a world where data drives decisions, one UK-based organisation stood at the forefront of providing competitive intelligence across various industries. With a strong foundation in offering market insights for consumer insurance products, including motor, home, pet, and travel, they had built a reputation for providing timely and valuable information. However, the business insurance sector, a world of complex data structures and rapidly shifting market dynamics, presented a new set of challenges. The company recognized that it needed a more sophisticated, scalable approach to expand its offerings in this space.
Business insurance posed unique challenges due to its complex data structures and market nuances. The existing data collection methods that worked for simpler insurance products were insufficient for this new, more intricate domain. Without an organized system in place, there was a risk of providing inconsistent or incomplete insights, which could hinder the company's ability to compete in the business insurance market and limit growth potential.
Operational Inefficiency: Misalignment between teams and inefficiencies in data management hindered effective operations.
To address these challenges, the organisation partnered with Abacus to create a tailored solution that would streamline data collection and validation for business insurance. Abacus developed a structured system that provided the scalability and accuracy required to handle the complexities of business insurance data.
Abacus’ approach included creating master sheets with rules for data collection, ensuring that every data point was captured with accuracy and consistency. A shared platform was implemented to allow both teams to collaborate in real-time, ensuring transparency and alignment. Additionally, Abacus customized data scraping techniques to meet the specific needs of business insurance while using its proprietary validation tool to ensure data accuracy.
With the new data management system in place, the company successfully expanded into the business insurance sector. They were able to collect, validate, and deliver competitive intelligence with greater accuracy and efficiency.
Abacus’ solution helped streamline their data collection processes and facilitated a smooth transition into the business insurance market. By providing consistent and reliable insights, the company was able to offer valuable competitive intelligence, positioning itself for continued growth in the industry.