Coterie Insurance Generates Bindable Quotes in Seconds Using Carpe Data

The Challenge

Coterie had already cut bindable quote times from days to minutes by investing in a 100% digital underwriting workflow built for the ~90% of U.S. small businesses that turn to an agent for guidance.

To push the platform further, Coterie needed a data partner that could match its response times, quote more business types with less risk, and supply trusted insight into any potential applicant, all without slowing the agent or broker down.

The Solution

After a competitive evaluation and proof of concept, Coterie selected Carpe Data’s Minerva platform, which delivers proprietary data on 85-90% of insurable U.S. small businesses with hundreds of segment-specific insights across more than 40 million entities and every industry.

A streamlined API gives Coterie rapid ingestion of the signals that matter most (key risk indicators, proximity to risk, customer reviews, business descriptions, and operating hours), with Carpe Data refreshing those attributes continuously so Coterie can act on the most current view of every applicant.

The Results

• ▸Bindable quote times cut to as little as 20 seconds, starting from just a name and address.
• ▸70+ dynamically-updated business characteristics surfaced per applicant.
• ▸Nearly 100 new underwriting rules built on Carpe Data signals.
• ▸Coverage of 85-90% of insurable U.S. small businesses, more than 40 million entities.
• ▸Real-time signals drive auto-issue, clarification requests, or auto-decline decisions.
• ▸Renewal underwriting adjusts to reputational and operational changes the moment they appear online.