Eircode, a new postcode system, is scheduled to be launched in Spring 2015, and this will not only have a huge impact on individuals and businesses but also the wider insurance industry sector. In readiness for this significant development, Open GI has introduced a new ‘Eircode’ field within our MotorWriter, TruckWriter and HomeWriter quotation engines.
This change will allow for the data capture of Eircode only, ahead of its 2015 implementation. The enhancement also allows for the capture and update of Eircodes at Mid-Term Adjustment stage, not just at New Business.
Insurers will continue to rate based on what is keyed into the existing ‘District’ field until Eircode becomes live, whilst brokers will be made aware of any subsequent product changes as a result of the launch.
Aside from making life much easier, the new Eircode system should bring significant opportunities and benefits to brokers such as:
• Allowing more accurate rating and better risk assessment based on the client’s postcode
• Providing an opportunity for businesses to add this information to their data
• Creating opportunities to introduce new products and services based on the data
• Helping to apply data and analysis to create Big Data
• Driving greater efficiencies including improving productivity and reducing fraud.
For more information about Eircode changes:
Account Manager Open GI