Carpe Data Announces Partnership With Everpeak Insurance To Streamline And Accelerate Underwriting

Carpe Data’s Minerva Suite will enable EverPeak Insurance to optimize their no-touch, bind or decline service as the company scales.

SANTA BARBARA, Calif.--(BUSINESS WIRE)--Carpe Data, a leading provider of predictive data for the insurance industry, today announced a partnership with EverPeak Insurance, a new workers’ compensation solution created by Pinnacol Assurance and designed for employers and agents nationwide. EverPeak will integrate Carpe Data’s Minerva platform to streamline and accelerate EverPeak’s underwriting process as they prepare for national expansion.

EverPeak Insurance is a Managing General Agency, acting as a bridge between businesses and insurance carriers to ensure they secure the appropriate workers’ compensation coverage. The Minerva platform will equip EverPeak with real-time access to a comprehensive database encompassing over 90% of insurable businesses nationwide. This translates to immediate risk insights at the point of quote, enabling accurate North American Industry Classification System (NAICS) codes and facilitating faster underwriting decisions for their partners.

“As a Managing General Agency, our model thrives on swift, accurate risk assessment and pricing,” said Vlad Stojanovic, COO of EverPeak Insurance. “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.”

In addition to its massive data library, Carpe Data’s Minerva platform leverages advanced data analysis to extract information relevant to workers’ compensation risk. This data is then transformed into actionable insights, empowering EverPeak Insurance to make faster, more informed underwriting decisions for their partner carriers. By providing risk assessment and utilizing these insights, Minerva streamlines the entire process. This leads to significantly shorter turnaround times for businesses seeking workers’ compensation coverage while allowing EverPeak Insurance to scale faster. With Minerva, underwriters at EverPeak can focus their expertise on reviewing exceptions, rather than needing to assess every single policy application.

“Part of our mission is to accelerate small business underwriting by providing powerful tools to underwriters to make their work easier,” said Max Drucker, CEO of Carpe Data. “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.”

About Carpe Data

Collaborating with insurance carriers to navigate the chaotic, ever-expanding data landscape, Carpe Data contextualizes online data bringing it into focus. We transform online information into predictive and actionable data, enabling automation and improving insurance outcomes across the policy lifecycle. Headquartered in Santa Barbara, CA, Carpe Data employees span the US, UK and Portugal with a commitment to helping insurers achieve peak efficiency. See how Carpe Data works to improve insurance outcomes at carpe.io.

About EverPeak Insurance

EverPeak Insurance is a workers’ compensation insurance solution offering comprehensive coverage and market-leading service for businesses across the United States. With an approach to care based on Pinnacol Assurance’s 100+ years of industry-leading underwriting, claims and risk management experience, we cover the hardest-working businesses because we work hard too. EverPeak Insurance offers skilled protection for businesses with the toughest risks and partners with insurance agents who strive to offer the best protection to those businesses that need it most. Learn more at everpeakinsurance.com.

Contacts

Hallie Criste, INK Communications for Carpe Data
carpedata@ink-co.com

First published on Thu, Aug 22, 2024

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