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VisualDNA and Admiral collaborate to explore the impact of personality on motor insurance risk assessment

May 10, 2016

VisualDNA, the world’s leading creator of psychographic data, and Admiral, a leading provider of insurance products in the UK, have established a working group to evaluate how psychometric scoring can support the assessment of risk in motor insurance in the UK.

 

By incorporating patented image based tests, VisualDNA is able to add an additional layer of information about an applicant that takes into account their personality, motivations and likely behaviours. Combined with existing data, this approach provides risk managers with insights into likely future behaviour and motor risk.

 

Currently in Beta phase, the project is focused on existing customers and is part of Admiral’s ongoing drive to innovate.

 

VisualDNA’s product has already revolutionised psychometry and risk prediction. It has brought together elements of psychology and machine learning yielding a product that is unique of its kind.

 

Clare McCaffery, Managing Director of Credit & Risk at VisualDNA commented:

 

“VisualDNA has already proven the benefits of applying our patented and unique psychometric tests to credit assessment. We are delighted to have the opportunity to work with Admiral to demonstrate the power of this approach to other forms of risk assessment such as motor.”

 

Peter Marrissen, International Pricing Director at Admiral commented:

 

“Admiral is committed to innovation and we are interested to see whether personality data fits in to the already rigorous risk assessment we have in place. The more we know about our customers’ likely behaviour the better placed we are to price risk on an individual basis, giving customers an even more accurate price.

 

About VisualDNA

VisualDNA is a marketing technology company combining the science of psychology with the technology of big data so brands can understand their digital audience at scale.  VisualDNA uses innovative and patented visual personality profile tests to gather profiles directly from consumers. We use predictive analytics across 500m global digital profiles to power advertising audiences across display, video, search and in both desktop and mobile channels.

 

VisualDNA was named a Cool Vendor in Consumer Dynamics by Gartner in 2015. Over 80 of the UK’s Top 100 digital advertisers target digital advertising with VisualDNA audience data in verticals including retail, finance, travel, entertainment, auto and technology, our key markets are UK, USA, Canada, Germany and Russia. VisualDNA serves leading media agencies such as Omnicom Media Group, Dentsu Aegis Network and GroupM and technology platforms such as Appnexus, Adobe and Google and targets content and advertising for onsite optimisation and CRM driven by the user’s personality.

 

About Admiral Group

  1. Admiral Group plc, through its subsidiary company EUI Limited, principally sells private motor insurance and associated products, such as cover for breakdown, car hire and personal injury.  EUI Limited markets directly to the public in the UK through its four core brands: Admiral, elephant.co.uk, Diamond, and Bell.
  2. Admiral Group plc employs over 8,000 people around the world and has more than 4 million customers.
  3. Admiral Group is Wales’ only FTSE 100 Company. Group turnover was £2.12 billion (2014: £1.97 billion).
  4. Admiral Group, through its subsidiary companies, consists of 13 major brands – Admiral, elephant.co.uk, Diamond, Bell, Gladiator and Confused.com, all based in the UK, Admiral Seguros and Rastreator.com based in Spain, ConTe.it based in Italy, LeLynx.fr and L’Olivier.fr based in France and Elephant.com and Compare.com based in the USA.
  5. Admiral Group’s website address is admiralgroup.co.uk
  6. Admiral Group was named the 4th Best Multinational Workplace in Europe.
  7. Follow Admiral Group on Twitter at twitter.com/admiralgroup

 

 

Media enquiries 

VisualDNA – clare.mccaffery@imagini.net, 020 7033 4700

Admiral – james.carnduff@admiralgroup.co.uk, 029 2043 4333