February 23, 2012

Now, it would be no good Bankstone News pretending that we are not easily confused, but we heard something this week that has got us more confused than that stringy-haired stripey-top bird on the telly who pulls unfeasibly large objects (microphone stands and the like) out from under her skirt while singing about comparing insurance.

Apparently, technology provider SSP is planning to launch an insurance “quote hub” that sits in a cloud somewhere. Rather like in those old books by William Gibson where people used to plug themselves into their computers and zap themselves off somehow into ‘cyberspace’, SSP now reckons it can launch brokers and insurers up to a cloud (via the internet) where they can access the quote hub and update their rates and so on in “real time.” You can read their press release here, if you insist.

SSP Bloke Richard Crocker claims: “The insurers that are adopting real-time pricing and data enrichment will see immediate benefits. They’ll be able to validate customer information to rate more accurately and effectively, and at the same time reduce fraud. Plus they’ll have greater control of their underwriting footprint and be more responsive, which is imperative in the motor market where incorrect pricing can be very costly. Over the coming months we’ll see more of the early adopters coming to market and everyone else will have to keep up or they will be left with the business they don’t want to write.”

All very puzzling, but as Socrates once famously observed, “Have you not sometimes seen clouds in the sky like a centaur, a leopard, a wolf or a bull?” Bankstone News certainly has! So why NOT a quote hub? Whatever that may be…

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