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Carpe Data, a Santa Barbara, Calif.-based provider of emerging and alternative data products for the insurance industry, has announce the immediate availability of ClaimsX, the vendor’s new Data-as-a-Service (DaaS) claims decisioning platform.
“The core premise of Carpe Data is to build data products to unlock operational efficiency and drive automation,” comments Max Drucker, CEO, Carpe Data. “ClaimsX pulls all the pieces of the claims process together by providing automated decisioning, data enrichment, and monitoring throughout the entire claims lifecycle, from FNOL to resolution.”
The vendor describes ClaimsX as using sophisticated data analytics and artificial intelligence (AI), to refine complex social, web, and publicly available data from previously unstructured sources to support automated claims decisioning and provide monitoring capabilities for property/casualty insurers, enabling rapid resolution of low risk claims and reduction of end-to-end cycle times.
Powerful Data Enrichment
Carpe Data says that ClaimsX delivers powerful data enrichment by providing access to actionable information, like claimant email and phone intelligence, employment and web presence, and vehicle information, including sales and aftermarket add-ons. ClaimsX also allows insurers to follow injury claims throughout the entire lifecycle to confirm loss facts and identify possible exaggeration or fraud. ClaimsX can also be useful in other lines, such as auto physical damage and property, to help track high-value property items and potential recovery opportunities, according to the vendor.
“ClaimsX drives automation at every stage of the claims lifecycle, determining when human touch is needed and providing insight through real-time monitoring of injury claimants, repair facilities, and more,” Carpe Data’s availability announcement of the solution says.