Carpe Data Classification System
Carpe Data’s Classification System immediately improves the accuracy of coverage underwriting for small and mid-size commercial companies across numerous lines of business while enhancing opportunities for automation and efficiency.
Through advanced classification indicators, this system identifies the many activities a business may conduct with a greater degree of specificity. Our classifications are additive to standardized systems (like NAICS and SIC) or custom insurer approaches.
In addition to broader insights, the Carpe Data Classification System dynamically evolves to support emerging classes of activity.
Risk Characteristics are an array of attributes about a business’ operations, products, services, or physical plant. This data enables and enhances automation throughout the insurance lifecycle:
- Eligibility, underwriting and renewal assessment
- In-force policy monitoring for identification of changes ranging from coverage updates to loss control needs
- Customer insights for sales and servicing needs
- Target profile marketing
Next Generation Scores and Indexes
The proliferation of online data has yielded a trove of new data dimensions that can illuminate the picture of a business. In its raw form this data is biased, unstructured and unrefined, so we harness it in the form of scores and indexes, cleaning and normalizing into predictive values or comparative dimensions, by industry segment and location. These dimensions represent the rating elements of the future and have already demonstrated a proven advantage in major carriers in pricing segmentation and related uses.
Customer Rating — an analysis of satisfaction of a business across online customer reviews
Visibility — normalized rating to measure the online exposure of a business
Reputation — the online reputation of a commercial entity
Health & Sanitation — leverages employee and customer feedback to gather key indicators of experiences relating to health issues and sanitary conditions of a business property
Maintenance & Condition — provides a measure of online references to a physical property and its state of repair
- Unlimited uses across insurance lifecycle
- Consumed by either batch file or API
- Multi-disciplinary approach to validating insights
- Broadened searching and trended data by segment
- Sub-second response time to next-generation data