Unqork Incorporates Carpe Data Resources to Better Evaluate Commercial Risk

The integration of emerging and alternative data into Unqork’s enterprise no-code platform aims to brings insurers unprecedented speed-to-market and insight.

(Image source: Carpe Data.)

Carpe Data (Santa Barbara, Calif.), a provider of emerging and alternative data for insurance, and Unqork (New York), an enterprise no-code application platform for insurance and other industries, have entered into a partnership to help property/casualty insurers drive speed, reduce fraud and enhance accuracy for insurance rate-quote-bind and claims solutions across personal and commercial businesses. The partnership aims to enable insurers to evaluate commercial risk more effectively and accelerate claims handling processes.

“In the highly competitive small commercial sector, speed and accuracy remain key differentiators for property and casualty insurers,” comments Farooq Sheikh, Insurance Go-To-Market Lead, Unqork. “We’re working with our carrier clients to integrate emerging and alternative data from Carpe Data into Unqork’s pure no-code platform so underwriters can make fast, accurate coverage and pricing decisions, resulting in measurably higher new business win rates and account retention.

“Unqork’s ability to bring complex solutions to market significantly faster and cheaper than code-based methods, combined with the deep insights Carpe Data provides will give our P&C clients a serious competitive advantage,” Sheikh adds.

Codeless Custom Underwriting and Claims Solutions

Max Drucker, CEO, Carpe Data.

On behalf of its insurance clients, Unqork is tapping into two of Carpe Data’s resources—Minerva, to help better classify and evaluate commercial risk, and ClaimsX to automate and accelerate the claims-handling process. Together these resources provide dynamic insights that complement traditional loss experience and exposure data, giving underwriters a more robust picture of a prospective or existing customer, according to a joint statement. By using Unqork’s enterprise no-code platform, clients can leverage Carpe Data’s products in custom underwriting and claims solutions without creating a single line of code.

“Unqork is pushing the boundaries of possibility for automation, and it’s great to be part of their unique data ecosystem,” comments Max Drucker, CEO, Carpe Data. “As a team focused on driving automation to enable the future of insurance, Carpe Data is excited by what we’ll be able to accomplish together.”

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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 AnthODonnell@IIReporter.com or (503) 936-2803.

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