Experian Launches New Property Move Alert Service
Nottingham, 28 July 2010 — Experian®, the global information services company, today announced the launch of a new alert service which will inform banks, lenders, insurers and home services companies when an existing customer puts their property up for sale or rent.
By being notified when a customer is selling or renting out their property, organisations will have valuable insight to help customer acquisition and management activities as well as the prevention of ‘hidden’ buy-to-let fraud activity.
Insurance providers, utilities and telecommunications providers will also benefit from the service, which uses compliant data from a wide range of property sources. Insurance providers will be able to recognise those that may need new or revised policies as a result of moving house and to target investigations into fraudulent claims, while utilities providers and telecommunications companies are able to quickly identify new occupiers and ensure accurate billing is enacted for new and existing customers.
Nick Evans, Head of Customer Management at Experian, commented: “As the population becomes increasingly mobile, it is vital for organisations to keep track of where their customers live and anticipate future moves and changes in circumstances. Previously lenders, banks, utility companies and other service providers have usually had little or no warning that a customer is looking to move.
“A house move represents a key opportunity to retain and sell new products to a customer. A move is also a prime opportunity for fraud to occur, for credit and other service providers to lose track of customers and be left with dormant or outstanding accounts. By using Experian’s Mover Alerts to be able to engage with a customer at the appropriate time, organisations can ensure they maximise customer relationships while effectively managing risks.”