"Defaqto Matrix 360 is a place for insurers to understand what is changing in the market, why these changes are happening, and how they should respond."
- John Milliken, CEO of Defaqto
Defaqto Matrix 360 is set to be released in phased updates throughout 2024 & 2025, bringing together relevant industry data sources, such as product, functionality, price, service, claims, consumer feedback, marketing, sales, and macro data. These insights will be made available through new technology spanning modelling, simulation, next best action, data visualisation, reporting, and alerting.
Matrix 360 will supersede Defaqto Matrix and has been developed in close conjunction with the industry – Defaqto consulted 400+ General Insurance (GI) professionals. This identified a want for insurers to make smart, well-informed product optimisation decisions, quickly and without the requirement of specialist skills in data science and Artificial Intelligence (AI).
This new development will incorporate Defaqto’s recently launched GI Customer Experience Insights dataset which offers reviews from 14.5k insurance customers in the UK.
“We recognise that the GI market is increasingly challenging […] Providers require data to drive decisions, fast. Defaqto Matrix 360 is a place for insurers to understand what is changing in the market, why these changes are happening, and how they should respond,” explained John Milliken, CEO of Defaqto.
“They can make smarter financial decisions – identifying new revenue sources, increasing efficiency by focusing resources on areas that are most valued by their customers, and improving compliance and their ability to demonstrate it,” he concluded.
