Discover how a leading Australian insurance company partnered with Hopewiser to transform its quoting process by using precise address-level data, resulting in faster, fairer, and more accurate insurance pricing.
The Challenge: Improving Insurance Quote Accuracy
In 2006, a major Australian insurance firm launched a groundbreaking project to improve the accuracy of its insurance pricing. For the first time in Australia, the company aimed to base quotes on individual properties rather than broad, aggregated areas.
To achieve this, the insurer needed confidence in the quality and consistency of its data. It was essential that property information could be reliably collated, verified, and cross-matched against a variety of data sources—ensuring that every quote inquiry would return consistent, accurate results.
The Solution: Building a Custom Address Universe”
Working with a third-party consultant, the insurance firm selected Hopewiser to manage all address-based functionality, thanks to their reputation for precision and reliability.
The insurer wanted to move beyond generalised pricing models and calculate premiums using a detailed, address-specific risk assessment. This required data to be matched with high accuracy across multiple systems.
During the project’s planning phase, the Hopewiser team identified the need to create a new address database that went beyond the existing Postal Address File (PAF). This custom-built database—referred to as the “Universe” file—became the foundation for the entire quoting system.
Using their existing Atlas software, Hopewiser developed a tailored solution capable of integrating with the insurance firm’s diverse IT infrastructure (mainframes, Unix, and Windows-based systems). A middleware layer was introduced to facilitate communication between systems and generate a unique identifier for each property—delivering both speed and reliability.
The system also managed real-time data capture and matching at the point of entry, supporting both call centre and online customer interactions.
Close collaboration between Hopewiser, the insurance company, and other stakeholders ensured the successful development and delivery of a robust, scalable solution within the project timeline.
“The Results: Faster Quotes, Happier Customers”
For the Organisation
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More accurate insurance pricing using address-level data
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A unique identifier system that speeds up quote processing
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Reduced time, fewer customer questions, and fewer steps in the quote journey
For the Consumer
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A faster, more reliable quoting experience
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Simpler process that’s easy to understand
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Greater confidence in fair pricing tailored to their actual property
“Looking Ahead: Geo-Location and Māori Language Support”
Following the success of the initial rollout, Hopewiser has expanded its services for the insurer. This includes the addition of geo-location data and development of a Macron-compatible solution for New Zealand, designed to support the Māori language correctly.
These enhancements continue to give the insurance firm a competitive edge—delivering reliable, fast, and accurate quoting powered by Hopewiser’s advanced address validation and data matching technologies.
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Topic: Data
