Carpe Data: Transforming Insurance with Big Data

As the insurance technology space continues to grow at a rapid pace, CIOs across the board are struggling to keep up as the connected world becomes ever more central in the insurance sphere. Leveraging the data from connected devices, machine learning, and AI poses promising returns in the realms of customized pricing and fraud management, however, determining how to safely and efficiently apply this advancing technology has been a challenge for all. “Many insurers struggle to manage their unstructured data and flounder especially when it comes to sifting through that data to glean insights that will result in actionable business decisions,” comments Max Drucker, President and CEO, Carpe Data. Quite simply, they are in need of an efficient, streamlined approach that will allow them to safely integrate next generation data into their current practices and this is where Carpe Data excels. Headquartered in Santa Barbara, CA, the company solves all of these issues by performing data aggregation, sifting, analysis, and integration for insurance companies in both personal and commercial lines.

The veteran team behind Carpe Data has been working to innovate the insurance arena for over 15 years by utilizing proprietary technology with a special focus on consumer privacy best practices. Carpe Data is adept at providing next generation predictive scoring and data products to P&C and life insurance companies in order to lower their costs, enhance prediction, and enable new product innovation and development.

Carpe Data achieves this incredible feat of streamlining the data integration processes by employing patent-pending data science techniques that create predictive models, scores, claims fast tracking, and fraud detection. The availability of social media and online data provides P&C insurers with unique and powerful information that can enable enhanced pricing, payment plan offerings, and underwriting. Unfortunately, navigating which data is available for legal use and how to best maintain customer trust and experience is a real concern for most insurers.