Carpe Data, a leading provider of predictive data for the insurance industry, has announced a partnership with EverPeak Insurance, a new workers’ compensation solution created by Pinnacol Assurance.
This collaboration is centred on EverPeak Insurance’s need to accelerate its underwriting process as it scales its operations across the country.
Carpe Data’s Minerva platform will be integrated to offer real-time access to a comprehensive database covering over 90% of insurable businesses in the United States. The integration aims to provide immediate risk insights, facilitating faster, more accurate underwriting decisions and reducing manual efforts.
EverPeak Insurance is designed to serve employers and agents nationwide as they look to streamline and improve their underwriting process in preparation for a national rollout.
Carpe Data specialises in predictive data solutions for the insurance industry. Its Minerva platform is designed to extract relevant data and transform it into actionable insights, specifically aimed at improving risk assessment in workers’ compensation insurance.
This enables companies like EverPeak to make more informed and quicker underwriting decisions, enhancing their ability to serve a growing customer base.
With the Minerva platform, EverPeak can efficiently identify risks and assign accurate North American Industry Classification System (NAICS) codes. This is essential for EverPeak’s ‘no-touch, bind-or-decline’ service, which aims to reduce manual intervention in the underwriting process.
Carpe Data’s platform will streamline EverPeak’s underwriting, allowing it to focus on reviewing exceptions rather than every policy. This efficiency is crucial as EverPeak prepares for its national expansion. The partnership will help EverPeak scale faster and enhance its ‘no-touch’ service model.
“Part of our mission is to accelerate small business underwriting by providing powerful tools to underwriters to make their work easier,” said Max Drucker, CEO of Carpe Data. “We’re thrilled to partner with EverPeak Insurance and empower them to strengthen their underwriting capabilities without adding strain on their employees. This will allow them to achieve their goals and continue offering best-in-class workers’ compensation insurance.”
“As a Managing General Agency, our model thrives on swift, accurate risk assessment and pricing,” said Vlad Stojanovic, COO of EverPeak Insurance. “This partnership is key to our growth strategy, particularly with our ‘no-touch, bind-or-decline’ service. It effectively powers our approvals and denials, reducing manual intervention.”
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