(Image credit: IIR.)
Carpe (Santa Barbara, Calif.) has launched the Minerva Reasoning Engine, an AI-native underwriting solution for small commercial insurers.
Max Drucker, CEO, Carpe.
Minerva uses live business intelligence to turn each carrier’s small commercial appetite into source-backed quote, decline or refer recommendations, according to a Carpe statement. The company says the solution is intended to help carriers quote more of the right risks, move straightforward submissions through faster and focus underwriter judgment on more complex cases.
Carpe says the Minerva Reasoning Engine converts a carrier’s appetite into named, testable rules. In a single workflow, the system resolves the business, enriches the record, applies carrier rules to current Carpe intelligence and returns a reasoning path backed by source evidence.
The company says carriers can apply the same logic across submissions and distribution channels while keeping underwriters in control of judgment-intensive risks.
“Carriers need better decisions from the data already available to them,” comments Max Drucker, CEO, Carpe. “We’ve spent more than a decade building exceptional commercial intelligence, and the Minerva Reasoning Engine gives carriers the reasoning they need to expand capacity while keeping underwriting judgment focused on the risks that deserve it.”
Carpe positions Minerva as a response to challenges in small commercial underwriting, where carriers must balance the cost of researching a business against the potential profitability of the policy. Traditional workflows can involve manual research, disconnected data and inconsistent appetite application, according to the company.
Reducing Underwriting Touches
Carpe says Minerva can reduce underwriting touches by up to 25 percent by moving straightforward risks through automated workflows. The company also says the solution can save 30 to 45 minutes per submission by replacing manual business research with decision-ready intelligence.
The Minerva Reasoning Engine evaluates more than 200 business characteristics and applies carrier appetite across more than 50 million U.S. business profiles, according to Carpe. The company says appetite rules can be configured with source-backed evidence and adjusted in plain language as underwriting strategy changes.
Carpe says Minerva is available to commercial carriers seeking to increase underwriting capacity, improve decision consistency and grow small commercial books profitably.
Carpe provides AI-native insurance intelligence technology that transforms online data and public records into decision-ready intelligence for underwriting, fraud detection and claims management.