Carpe Data and Unqork have partnered to help property and casualty (P&C) insurers enhance automation, cut down fraud and boost accuracy for insurance rate-quote-bind and claims solutions across personal and commercial businesses.
Carpe Data is a provider of emerging and alternative data for insurance, while Unqork is an enterprise no-code application platform.
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The partnership is expected to help insurers analyse commercial risk more effectively and speed up their processes of handling claims.
Unqork Insurance Go-To-Market lead Farooq Sheikh said: “In the highly competitive small commercial sector, speed and accuracy remain key differentiators for property and casualty insurers.
“We’re working with our carrier clients to integrate emerging and alternative data from Carpe Data into Unqork’s pure no-code platform so underwriters can make fast, accurate coverage and pricing decisions, resulting in measurably higher new business win rates and account retention.
“Unqork’s ability to bring complex solutions to market significantly faster and cheaper than code-based methods, combined with the deep insights Carpe Data provides will give our P&C clients a serious competitive advantage,” he added.
Unqork is tapping into two of Carpe Data’s products – Minerva to help better categorise and analyse commercial risk, and ClaimsX to automate and speed up claims-handling process.
This will help in offering insights that complement traditional loss experience and exposure data, thereby enabling underwriters to gain a more robust view of a prospective or existing customer.
By making use of Unqork’s enterprise no-code platform, clients will be able to leverage Carpe Data’s products in custom underwriting and claims solutions without actually making a line of code.
Carpe Data CEO Max Drucker said: “Unqork is pushing the boundaries of possibility for automation, and it’s great to be part of their unique data ecosystem.
“As a team focused on driving automation to enable the future of insurance, Carpe Data is excited by what we’ll be able to accomplish together.”
