Percayso provides insurers with the data to make better decisions and win in a highly competitive market
- 4 insurance clients already contracted
- Platform designed to process millions of transactions per day
- Interest from multiple top 10 insurers
- In Slaughter & Mays FastForward 2020 & Oxbows Insurtech Impact 25
The UK insurance industry is worth £220bn per year and it lives and dies on data - to understand risk, identify fraud, confirm customers details and set premiums. Good data is the difference between insurers winning & losing in a hyper-competitive market. Percayso provides insurers with access to a wide range of data sources, allowing them to form a more comprehensive view of their customers. Percayso’s technology aggregates the data from different partners, allowing intelligence to be accessed with a simple API call at significant volume.
The team is made up of individuals with a wealth of experience in the insurance industry and data enrichment field. We have built the platform, the partner network and the strategy to enable insurers to make a step change in their customer insight, the risk they present and their true value. Percayso's services seek to disrupt the existing monopoly supplier to fulfill a clear market need for a new solution which insurers are looking for. We have already signed 4 clients & have a strong pipeline of 25+ opportunities & aim to convert at least 50% of these.
Substantial accomplishments to date
-Percayso's platform is designed to process millions of transactions per day at sub-second response times
- Exceptional team assembled and fully operational analytical uplift of the core solution proven with beta clients
- Agreements with multiple core data suppliers agreed
- Contracts signed with four clients to date and 20+ more opportunities in the pipeline worth up to £4.5 million total contract value
- Integration with major insurance software platforms underway
- A range of new products planned for launch in 2021
As a B2B organisation we licence our services to our insurance provider clients who typically sign up to one-three year contracts. The commercials can be broken down into:
1. Set up and analytical fees based on the complexity of the solution
2. Monthly licence fees to access the service
3. Data fees to licence the data
Our fees are currently a blend of our own services and reseller agreements with some data partners. As we develop more new in-house products these will aim to increase our gross margins further and subsequently our EBITDA.
Use of proceeds
Percayso plans to use investment funds to expand the business both through additional data partners, product and platform diversification and development as well as marketing and client onboarding.
Use of funds:
Platform Development - 45%
Third Party Integrations - 20%
Working Capital - 20%
Product & International Development - 10%
Marketing & Networking - 5%
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