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Ageas has launched a new pricing structure for car insurance, based on publicly available data from a variety of sources.

In partnership with Insurance Initiatives, Callcredit Information Group and LexisNexis Risk Solutions, the insurers new rating system takes the name, date of birth and address of the applicant and immediately returns a risk score that is used to enhance underwriting data.

Following a successful pilot with Insurecom brokers in 2011, Ageas is now rolling out its new pricing structure to Open GI and SSP, with launches to other software-house partners to follow in April.

The insurers underwriting director, Adam Clarke, comments: “Ageas’s dynamic pricing puts us at the forefront of new rating sophistication techniques, giving brokers extra confidence that the quote they are providing is more specifically targeted to their client’s individual circumstances and allowing brokers a unique opportunity to compete in a highly competitive market.”

David Kelly, distribution director at Open GI adds: “Ageas is a forward thinking and pioneering insurer, so in challenging times this new facility will allow our brokers to offer extremely attractive quotes.”

The new facility will be launched across other Ageas product lines later in the year, and the group has plans to further enhance its motor proposition in the months ahead.