36 Auto-Owners Insurance, a prominent property and casualty insurer in the United States, has embarked on a transformative journey in its underwriting operations by partnering with Carpe Data, a renowned provider of small commercial data solutions. This collaboration aims to streamline the underwriting workflow and usher in a new era of efficiency and excellence in small business underwriting. Recognizing the importance of refining its appetite for straight-through-processing (STP) while maintaining balanced loss ratios, Auto-Owners sought innovative solutions to enhance its underwriting processes. In response, the company turned to Carpe Data’s Minerva commercial data solution, known for its prowess in providing actionable business intelligence. Carpe Data’s Minerva team worked closely with Auto-Owners to infuse their existing underwriting processes with cutting-edge data analytics. Leveraging advanced data sources, such as online customer rating indexes, visibility scores, and evidence-based risk characteristics, the partnership aimed to uncover key indicators of business strength and loss propensity. Additionally, Carpe Data’s solution offered aggregated scores that amalgamated various attributes to drive business value and informed decision-making. In essence, the partnership between Auto-Owners Insurance and Carpe Data signifies a strategic step towards modernizing underwriting practices and embracing data-driven insights to drive business success in the small commercial insurance landscape. You Might Be Interested In JPMorgan, Goldman, Citi, and Morgan Stanley Release China’s 2024 GDP Forecasts TikTok to Label AI-Generated Images and Videos from OpenAI and Other Sources Challenges Mount for Biden’s Clean Energy Agenda CME Ventures into Digital Finance, Introduces CoorB in the Middle East and Africa Surprising Contraction: Japan’s Economy Shrinks More Than Anticipated in Q3 Gaps in Green Financial Regulations Across Banks