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Acorn Insurance is a specialist motor insurance provider who focuses on risks that often fall outside of the status quo. Operating in an increasingly competitive market where margins are continuously squeezed Acorn were looking for a way to enhance their current premium pricing techniques to deliver fair pricing for traditionally high-risk clients.
rentE, an on-demand car hire service, traditionally categorised as high-risk by insurers, found that they were struggling to grow their business due to significantly high insurance premiums. With rentE’s pay as you go, innovative business model, it was apparent that more accurate risk insights were needed to obtain a fair premium.
Concirrus’ saw an opportunity for rentE and Acorn to work together by creating a short pilot using Quest Motor technology. Both dash cam and telematics data were captured and analysed by Quest Motor. The analysis provided comprehensive insights into rentE clients driving behaviour which enabled Acorn Insurance to price a premium that was fair, competitive and reflected the true level of risk within the fleet.