Challenge
Hiscox, a leading provider and underwriter of specialist insurance services wanted a mechanism for performing real time price comparison and market intelligence against their competitors on the UK market. This would involve collecting comparable price data from a large number of competitors, storing it centrally, and visualising the results across a set of dashboards and market intelligence tools.
Given that most UK insurance companies don’t offer an API for gathering price information, the major challenge was how to
regularly, accurately, and quickly gather pricing data from competitors
Solution
Colibri Digital developed a cutting edge Dynamic Data Ingestion web scraper based on some of the very latest technologies to dynamically generate
and extract price quote information from competing UK insurance websites. Hosted on AWS, and leveraging the power of
the Amazon cloud, the application was able to regularly gather pricing information and store it in a centralised repository.
Dynamic Data Ingestion layered on a set of visualisations, leveraging the power of the customers existing Datarama subscription to offer rich
visualisations and business intelligence
Results
Hiscox underwriters are now able to view how competitive they are on the UK insurance market across a range of bespoke
and boutique insurance products in near real time. Where previously this process would either have been manual, or based
on monthly sales volumes, underwriters are now able to adapt pricing in real time to changes in market and competitor
trends and offers.
