Ageas’s commercial vehicle products have been available with Transactor for a number of years and now can be quoted using dynamic pricing based on the individual circumstances of the customer in addition to traditional rating factors such as post-code and vehicle type. The new pricing structure uses publicly available data from a variety of sources to offer customers a more informed and therefore fairer quotation and follows the successful implementation of dynamic pricing on Ageas’s private car and home products.
Trevor Bowers, Commercial Vehicle Underwriting Manager at Ageas said,“We are pleased to have enhanced our commercial vehicle products with Transactor through implementation of dynamic pricing which will help TGSL to provide competitive and accurate premiums to its brokers.”
Simon Macray, Director of Insurer Relations, TGSL, said,“We are delighted to have completed this new development initiative which strengthens our product range and relationship with Ageas. We strive to provide the best service we can to our clients and believe that the Ageas commercial vehicle scheme is an asset to our Open Market Rated products, which are accessible to all TGSL clients.”
Ageas UK is a leading provider of award-winning Personal, Commercial and Protection insurance solutions in the UK. Ageas UK distributes both its Non-Life and Life products through a range of channels including brokers, IFAs, intermediaries, affinity partners and the Internet, as well as through its retail strategy and its wholly or partially-owned companies trading as Ageas Insurance, Ageas Protect, Ageas Retail, Tesco Underwriting and Ageas’s Retail brands which include Castle Cover, Kwik Fit Financial Services, Ageas Insurance Solutions and RIAS.
Insuring around nine million customers and working with a range of partners, Ageas is recognised for delivering consistent and high-quality customer experiences. It employs around 6,000 people with offices based across the UK.
Ageas is an international insurance group with a heritage spanning 190 years. Ranked among the top 20 insurance companies in Europe, Ageas has chosen to concentrate its business activities in Europe and Asia, which together make up the largest share of the global insurance market. These are grouped around four segments: Belgium, United Kingdom, Continental Europe and Asia and served through a combination of wholly owned subsidiaries and partnerships with strong financial institutions and key distributors around the world. Ageas operates successful partnerships in Belgium, the UK, Luxembourg, Italy, Portugal, Turkey, China, Malaysia, India and Thailand and has subsidiaries in France, Hong Kong and the UK. Ageas is the market leader in Belgium for individual life and employee benefits, as well as a leading Non-Life player through AG Insurance. In the UK, Ageas is the sixth largest Non-Life insurer with a number 2 position in cars insured and has a strong presence in the over 50’s market. Ageas employs more than 13,000 people in the consolidated entities and over 30,000 in the non-consolidated partnerships, and has annual inflows of more than EUR 23 billion.
Transactor Global Solutions Ltd (TGSL) is one of the top insurance software houses in the UK providing configurable insurance software to a range of insurance brokers, underwriting agencies, insurers and MGAs.
Transactor includes a range of front and back office software for any class of business and is unique in the level of flexibility it provides. Front end applications interact with back office databases reducing business costs and increasing productivity. Transactor software uses Microsoft .Net architecture making it familiar and easy to use plus systems are readily scalable, supporting multiple branches, channels, brands, affinities, languages, and currencies.
Since inception in 2003, TGSL (transactorgsl.com) has supported an organic growth model delivering compound annual growth of approximately 25%. It currently has over 180 staff across offices in Winchester, Milton Keynes and Krakow (Poland), and an office in the City of London supporting its Transactor London Market operation launched in May 2011.
TGSL clients include Adrian Flux, the UK’s largest specialist motor insurance provider; Caravan Guard, specialist scheme broker; Cornish Mutual Assurance, personal, business, home and farm insurance specialists, Insure 4 Retirement, a high volume household insurance call centre and Internet business, Freeway Insurance Services, a high volume scheme based UK insurance broker; AJ Gallagher Heath Insurance Services, a leading UK independent insurance broker and employee benefits consultant; Jardine Lloyd Thompson, a leading insurance and reinsurance broker; and PetPlan USA, specialist pet insurer.