United Automobile Insurance opts for Cloverleaf to use data “more intelligently”

United Automobile Insurance Company, a regulated property and casualty insurance carrier focused on the non-standard automobile market, has become a Cloverleaf customer to leverage insurance data for underwriting and policy rating.

Cloverleaf is a provider of insurance intelligence solutions. Its platform leverages emerging technologies such as machine learning and natural language processing, with a “proper lens” on how to create the right custom technology environment to address new risks facing the insured across any type of personal lines insurance.

United Automobile Insurance Company said it opted for Cloverleaf due to the company’s ability to integrate with its in house policy management system and Guidewire ClaimCenter. This will enable advanced insights regarding quote, policy, and claims enterprise data in real-time, the company said.

Dean Kozlowski, vice president of product and compliance at UAIC, said, “Cloverleaf is the solution that we needed to integrate data from all internal systems as well as third party sources and structure it in a way to make it immediately consumable and actionable by internal users.

“Beyond improving our rate making, Cloverleaf will deliver a complete view of the business providing insights across systems which will enable the design of new and innovative products and processes. As a niche carrier, we see it as a competitive advantage to use data more intelligently and completely than our competition as we make adjustments to existing products to deliver more value and an improved experience to customers. Additionally, we are confident that we will be able to leverage these insights into our overall business operations to lower costs and improve profitability.”

Robert Clark, president of Cloverleaf, added, “When driving increased following COVID lockdowns, insurers and drivers likely did not foresee being impacted by the continuous changes to auto insurance rates due to the economy. Couple these price impacts with the rising costs of car repairs due to global supply chain challenges and the chip shortages, and insurers are faced with how to compete and stay profitable.”

The auto insurance market has been hitting the headlines recently with Tesla’s roll-out of its product across several states the US. FinTech Global took a closer look at what this means for the rest of the industry by speaking to industry executives.

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