The Launch of Carpe Data
Top ten Innovator of the decade, Max Drucker, launches new next generation data company for insurance.
In October, a new insure tech startup emerged as Carpe Data. Born from top ten innovator of the decade, Max Drucker, and his team of industry veterans, the company aims to disrupt the insurance data market with new and innovative data offerings.
Carpe Data, headquartered in Santa Barbara, CA, was spun off from Social Intelligence to provide next generation predictive scoring and data products to P&C and life insurance companies. By leveraging the social web, online content, wearables, connected devices, and other forms of next generation data, Carpe Data enables insurers to more accurately predict risk across the policy lifecycle.
Facing a market of more than $10B, Carpe Data is poised to meet a growing gap in insurance. The landscape has changed drastically - with roughly 64 million millennials classified as "unscoreable", augmenting traditional data sources with alternative, real-time ones is becoming a necessity. Carpe Data has arrived on the scene to fill this insurance industry need, designing products that meet changing customer habits and data trends.
Carpe Data's mission is driven by the predictive power of next generation data. As the insurance industry has continued to see tremendous value in social and web-based information, thousands of success cases have led to an emergence of patterns and an opportunity for the application of data science. Carpe Data's offerings are rooted in this principle, which has enabled the company to create use-case specific algorithms for automated predictive data products. These products address a number of different insurer needs, including pricing, underwriting, claims, and fraud.
As the need for next generation data usage becomes more critical, precedents in the area begin to be set. While companies work to find their footing in best practices, the path becomes rife with misstep. Carpe Data hopes to help lead some of the conversations surrounding privacy, consumer rights, and mindful data collection. With a track record of aiding the industry in shaping compliance guidelines, Carpe Data aims to set an example on how to aggregate, collect, and utilize data from next generation sources. This includes leveraging the proper public data sources and collection methods, limiting applications to specific lines of business, and remaining transparent as both technology and policy evolve.
For more information on how Carpe Data's products are revolutionizing insurance, please visit www.carpe.io.
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