Columbia Insurance Group Adopts DataCubes Solutions for Agent Portal

The insurer will use risk analysis and decisioning tools,d3 Risk 360 and d3 Answers to gain underwriting insights while increasing quote accuracy and turnaround time.

(James S. McDonnell Planetarium, St. Louis, Mo. Image source: Skeeze.)

Columbia Insurance Group (Columbia, Mo.) has selected DataCubes’ (Schaumburg, Ill.) AI-enabled underwriting technology to use with its agent portal. Columbia Insurance Group will utilize DataCubes’ risk analysis and decisioning tools, d3 Risk 360 and d3 Answers to uncover deep underwriting insights while increasing quote accuracy and turnaround time, according to a vendor statement.

Scott Mackey, Chief Underwriting Officer, Columbia Insurance Group.

“We strive to be the most valuable commercial carrier in our market,” comments Scott Mackey, chief underwriting officer, Columbia Insurance Group. “To achieve that goal, we rely on our highly talented underwriting team and their ability to build enduring, personal relationships with our customers, our agents. Our partnership with DataCubes will increase the speed and accuracy of our data collection, thereby improving our risk selection while freeing up our team to build stronger customer relationships.”

Data-Driven Underwriting Decisions

DataCubes reports that its d3 Underwriting platform includes a data lake that aggregates over two billion data points from a broad array of internal and external sources including government entities, public records, company websites and more. With its machine learning models, DataCubes organizes and analyzes this data and automatically answers underwriting questions based on the digital footprint of a business. This will enable Columbia  Insurance Group to substantially reduce the agent’s effort to obtain a quote while maintaining its high underwriting standards, according to the vendor.

“We are proud to be helping Columbia make data-driven underwriting decisions that reduce expenses, minimize losses and provide a near real-time customer experience,” comments Kuldeep Malik, co-founder and CEO, DataCubes.

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at Ant[email protected] or (503) 936-2803.

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