EverPeak Insurance has teamed up with Carpe Data, utilising the latter’s Minerva platform to expedite its underwriting process.
This collaboration is aimed at supporting EverPeak’s national expansion efforts.
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The integration of Minerva will provide EverPeak with real-time access to extensive data, improving the accuracy and speed of workers’ compensation coverage decisions.
EverPeak, a managing general agency, connects businesses with insurance carriers to secure suitable workers’ compensation coverage.
The Minerva platform will grant EverPeak real-time access to a vast database covering over 90% of insurable businesses across the nation. This will enable immediate risk insights at the point of quote, ensuring precise North American Industry Classification System (NAICS) codes and expediting underwriting decisions for their partners.
Carpe Data’s Minerva platform not only offers a significant data library but also employs advanced data analysis to extract information pertinent to workers’ compensation risk. 2
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By GlobalDataThese insights are then converted into actionable intelligence, allowing EverPeak Insurance to make quicker, more informed underwriting decisions.
The use of Minerva is expected to shorten turnaround times for businesses seeking coverage and facilitate EverPeak’s scaling ambitions.
With the Minerva platform, EverPeak’s underwriters can concentrate on reviewing exceptions, streamlining the policy application assessment process.
Carpe Data CEO Max Drucker commented: “Part of our mission is to accelerate small business underwriting by providing powerful tools to underwriters to make their work easier. 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.”
Echoing the sentiment, EverPeak COO Vlad Stojanovic stated: “As a Managing General Agency, our model thrives on swift, accurate risk assessment and pricing. 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.”
