Markerstudy Insurance Services chooses SAS to help drive analytics modernisation
Markerstudy Insurance Services Limited, the UK’s largest managing general agent, has invested in technology from analytics leader SAS to support its strategy of profitable and sustainable growth. The SAS® Viya® platform on Azure, which runs on a modern, scalable architecture and is fully cloud native, will help support Markerstudy Insurance’s risk, underwriting, claims and complaints, as well as advance its data science capability.
Markerstudy Insurance supports more than 1,000 broker partners and in excess of six million policyholders with a wide variety of insurance products. Migrating to the new platform will enable the company to harness the most advanced data science capabilities to help improve underwriting profitability, gross written premium and claims management. In the future the platform can provide opportunities to offer customer insight, optimised pricing, claims automation, fraud detection and investigation and risk management with real-time decisioning available for every business area, as well as enabling scaling on demand with each new acquisition, or organic growth, at short notice.
“This solution enables us to ensure our systems use the latest technology and retain the flexibility to significantly support our workloads, while being confident this will also enhance our day-to-day operations and ensure compliance with industry regulations,” said Simon Hughes, Group Head of Data & Analytics at Markerstudy Group.
“We can now achieve these aims via advanced analytics on a single cloud-native platform, which also gives us the future opportunity to quickly develop new initiatives in areas such as fraud and customer intelligence.”
Roderick Crawford, VP & Country Manager, SAS UK & Ireland, said: “We’re delighted to be helping Markerstudy Insurance Services through the capability and scalability offered by SAS Cloud. Using advanced analytics and AI, our products lead to faster, better decision-making, and ensure models remain fair, accountable, transparent and explainable, so they can be continually optimised and remain compliant with regulations.”
Markerstudy is an accredited Investor in People - Gold, with more than 5,000 employees.
Established in 2001, the group includes the UK’s largest MGA, Markerstudy Insurance Services Limited, which supports over 1,000 broker partners and protects in excess of six million policyholders with a comprehensive range of products, from standard screen-rated to the very niche and hard to place manually underwritten risk.
In 2020, Markerstudy acquired Co-op Insurance’s underwriting business and commenced a 13-year partnership to provide home and motor insurance products under the Co-op brand.
In 2021 it acquired BGL Insurance, a leading distributor of insurance to 3 million customers, and Lloyd’s broker, Clegg Gifford.
Other sectors within the group include the Markerstudy Broking division, which comprises a number of brands including Brightside Insurance and Insurance Factory – one of the UK’s largest pet insurance platforms – and complementary businesses Auto Windscreens, VisionTrack and Vision Vehicle Solutions.
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