(Image credit: Gerd Altmann/geralt.)
DataCubes (Schaumburg, Ill.), provider of a decision automation platform for commercial property/casualty underwriting, announced today its partnership with The Hanover Insurance Group, Inc. (Worcester, Mass.). The Hanover will leverage DataCubes’ underwriting technology to enhance its agents’ experience with appetite and quoting transactions as well as streamline its underwriting process, according to a vendor statement.
“We are proud to be helping The Hanover enhance its ability to efficiently gather underwriting information while identifying exceptions and unique characteristics on risks that may warrant additional review,” comments Kuldeep Malik, CEO, DataCubes. “The Hanover will maintain its high underwriting standards and improve the experiences of its agency partners by increasing quote accuracy and turnaround time.”
Improving Agencies’ Transactional Experience
“DataCubes will help us to improve our agencies’ transactional experiences while also increasing our underwriting service levels by empowering our underwriters to spend less time gathering information on businesses and more time evaluating the most critical risks,” comments Richard W. Lavey, president, Hanover Agency Markets, The Hanover.
DataCubes characterizes its offering as an AI-driven d3 Underwriting platform trained to emulate the best practices of a human underwriter. Using machine learning, the platform DataCubes analyzes and interprets over four billion data points to build robust business profiles that help carriers discover important underwriting insights and risk characteristics in near real-time, according to the vendor. DataCubes’ d3 Answers is designed to reduce the number of underwriting questions that need to be asked manually by using AI and the digital footprint of a business to determine the best responses.