This past week, our COO Geoff Andrews spoke at DIA Munich’s annual conference, who invited him to present one of their coveted “Show & Tell” sessions. When asked why they chose Geoff and Carpe Data for their conference, the organizers of Digital Insurance Agenda (DIA) noted that “Carpe Data is the prime example of a company poised to facilitate the industry’s transformation to greater underwriting efficiency and the reduction of fraud, and by using technologies like AI and big data to improve the insurance underwriting process. Both carriers and consumers will benefit from its innovation and creativity.”
Geoff’s presentation focused on Carpe Data’s commercial product, admitting that the SME market is not a simple task. “The existing process for pricing, quoting, and underwriting SME business is predominantly manual, time consuming, expensive, and not an ideal experience for the carrier or the consumer,” explained Geoff in his introduction.
Geoff went on to present a demonstration of the product, with assistance from our International Product Lead, Sylvie Ramirez. The demonstration showed how Carpe Data’s products enable carriers to expedite the quoting process through data pre-fill, more accurately price their risks through the introduction of new pricing variables, and automate underwriting using our machine learning-based risk scores.