Auto Trader has announced its new partnership with Experian to provide valuations data for its iCache platform.
Experian’s iCache platform provides insurance companies with data so they can in turn give more competitive consumer quotes.
Currently, more than 50 insurance companies use the platform for more than 15m transactions a day.
This is the first time Auto Trader’s daily pricing analysis data will be used at the point of quote and it says that ‘this represents another important milestone’ for its relationship with the insurance industry.
Ed Hummel, business development director at Auto Trader, said: ‘We’re delighted Experian has chosen Auto Trader to power its highly respected iCache platform.
‘At Auto Trader, we’re privileged to work with over 13,500 retailer partners, to list an average of 450,000 privately and trade advertised vehicles, and to receive over 64m consumer visits each month.
‘This means that at a time when the market is moving at an incredible pace, we’re able to provide our partners with the most accurate valuations and insights available.
‘As a result, our data is widely used across all automotive sectors, and we have made good progress recently helping insurance customers improve their business with more accurate, granular and timely data.’
Paul Speirs, managing director of digital consumer information at Experian UK&I, commented: ‘We are excited to be partnering with Auto Trader, one of the most trusted and recognised automotive brands.
‘We are committed to helping our clients provide greater financial opportunities for everyone and a combination of Experian’s robust data sets and Auto Trader’s accuracy, speed and insights means our insurance customers will benefit from the ability to offer more competitive quotes and improved loss ratios.
‘We look forward to expanding our partnership into new areas later in the year.’