Insurance DataLab has enhanced its Security Committee-in-a-Box tool by embedding its Insurer Performance Index, helping brokers make more evidence-based insurer placement decisions under increasing regulatory scrutiny.
The update reflects growing pressure on brokers to demonstrate that placement decisions deliver good customer outcomes, particularly under the Financial Conduct Authority’s Consumer Duty rules, according to FF News.
By integrating structured performance data directly into workflows, the tool aims to replace manual, judgement-based processes with a more consistent and auditable approach.
Insurance DataLab provides market intelligence and analytics to the insurance sector, focusing on insurer performance and data-driven decision-making.
Its Security Committee-in-a-Box tool is designed to streamline the traditionally complex process of reviewing insurer security and suitability for risk placement.
At the centre of the enhancement is the Insurer Performance Index, which evaluates insurers across four core areas: claims, complaints, solvency and underwriting. The integration allows brokers to assess insurer partners more quickly, document their decisions and create a clear audit trail for compliance purposes.
The Index combines multiple data sources, including regulatory disclosures and proprietary research, to offer a more complete view of insurer performance. It also incorporates insights from the Commercial Lines Claims Pulse, developed with Research in Finance and based on more than 800 real-world claims experiences, providing additional visibility into claims handling and customer outcomes.
By embedding these insights into the placement process, the tool enables brokers to move beyond price-based comparisons and better evaluate the quality of insurers’ claims performance and overall service delivery. This is particularly relevant as differences in claims outcomes increasingly shape long-term client relationships.
The enhancement also supports a shift towards more transparent and defensible decision-making, helping brokers evidence why a particular insurer represents a suitable destination for risk. This is expected to reduce compliance risk and improve operational efficiency in a market defined by heightened regulatory expectations.
Insurance DataLab co-founder Matt Scott said, “Brokers are under increasing pressure to demonstrate that placement decisions are based on clear evidence and deliver good customer outcomes.
“By embedding the Insurer Performance Index into our Security Committee-in-a-Box tool, we’re helping firms move from fragmented data to a more structured and defensible approach to decision-making.
“This is about making it easier to assess insurer performance consistently, document decisions clearly, and ultimately place business with greater confidence.”
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