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Buckle, a Jersey City, N.J.-based tech-enabled financial services company providing auto insurance solutions for the gig economy, has selected Percipience’s (Mandeville, La.) core system-agnostic data and analytics platform.
Buckle’s gig auto insurance for rideshare and delivery drivers relies on transportation and delivery network company data for highly accurate policy underwriting, a Percipience statement notes. By using rideshare and delivery data from platforms used by companies like Uber, Lyft, and DoorDash, Buckle eliminates the traditional data gaps that leave mobile gig workers, in particular, underinsured or paying higher premiums.
“First and foremost, Buckle is an insurance company, so it made sense to invest in industry standard solutions for things like underwriting, core administration, and distribution channel management, but many aspects of our business and products are unique and evolving and not actively supported by standard insurance applications,” comments Adam Landau, CIO, Buckle. “The ability to quickly and easily implement and extend Data Magnifier to support our innovations was key to us choosing Percipience.”
Percipience describes Data Magnifier as a platform-independent data and analytics solution which allows insurance companies, such as Buckle, to leverage existing technology and systems investments instead of engaging in an expensive rip-and-replace initiative to deliver needed, relevant data insights to underwriters, actuaries, CXO, and operations leaders. With Data Magnifier’s coverage of more than thirty property/casualty lines of business, more than 95 percent of the attributes needed by Buckle were already included out of the box, the vendor says.
Buckle is leveraging existing investments in Amazon Web Services (AWS), Snowflake, Informatica, and Microsoft Power BI which allows the use of internal staff and resources already experienced with the platform to complete much of the implementation, further reducing the total cost of ownership (TCO) below any other data solution the company considered, the Percipience statement says. Buckle was Data Magnifier’s first implementation on AWS and Snowflake, with Percipience delivering the migrated Data Magnifier solution in just four days. Further, Data Magnifier’s integration accelerators allowed mappings for four policy and claims applications to be completed within three months.
“Buckle has selected specific areas where they wanted support from Percipience and are taking advantage of the documentation and intuitive nature of Data Magnifier to own and control the implementation themselves,” comments Bruce F. Broussard Jr., managing partner, Percipience. “Buckle is a great partner for Percipience, allowing us to further demonstrate Data Magnifier’s platform portability and the power of our integration assets across multiple different data sources. As an innovator, Buckle is well positioned to leverage Data Magnifier to drive their continued growth, and we’re very excited to have them as a partner.”