The collaboration is driven by EverPeak Insurance’s need to accelerate its underwriting process as it scales operations nationwide.
Carpe Data’s Minerva platform will be integrated to offer real-time access to a comprehensive database that covers over 90% of insurable businesses in the United States. This partnership aims to provide immediate risk insights, ensuring faster, more accurate underwriting decisions while also reducing manual efforts. EverPeak Insurance is designed to assist employers and agents across the country in streamlining and improving their underwriting processes in preparation for a national rollout.
Carpe Data specialises in predictive data tools for the insurance industry. The Minerva platform is designed to extract relevant data and transform it into actionable insights, improving risk assessment in workers’ compensation insurance. This enables companies like EverPeak to make more informed and quicker underwriting decisions, enhancing their ability to serve a growing customer base.
The Minerva platform allows EverPeak to efficiently identify risks and accurately assign North American Industry Classification System (NAICS) codes. This capability is essential for EverPeak’s ‘no-touch, bind-or-decline’ service, which seeks to minimise manual intervention in the underwriting process.
By leveraging Carpe Data’s platform, EverPeak can streamline its underwriting operations, enabling the company to focus on reviewing exceptions rather than every policy. This enhanced efficiency is particularly crucial as EverPeak prepares for national expansion. The partnership will support EverPeak in scaling more quickly and strengthening its ‘no-touch’ service model.
Max Drucker, CEO of Carpe Data, commented: “Part of our mission is to accelerate small business underwriting by providing powerful tools to underwriters to make their work easier. We’re thrilled to partner with EverPeak Insurance and empower them to strengthen their underwriting capabilities without adding strain on their employees. This will allow them to achieve their goals and continue offering best-in-class workers’ compensation insurance.”
Vlad Stojanovic, COO of EverPeak Insurance, added: “As a Managing General Agency, our model thrives on swift, accurate risk assessment and pricing. This partnership is key to our growth strategy, particularly with our ‘no-touch, bind-or-decline’ service. It effectively powers our approvals and denials, reducing manual intervention.”
