Carpe Data, the leading provider of next-generation data products for the insurance industry, has officially launched its suite of next generation data solutions to the international market, initially in the United Kingdom.
“The global insurance industry is going through a metamorphic transformation, and next generation data is one of the key drivers,” remarked Geoffrey Andrews, Carpe Data’s COO, co-founder, and the member of the executive team leading the expansion into the international marketplace. “The omnipresence of the internet combined with the spread of web, social, and other next generation data, has created an infinite source of new information for insurance carriers around the world to leverage.”
Carpe Data serves the insurance industry with automated data and predictive scoring solutions, with offerings that allow carriers to leverage valuable online data and enable them to gain greater insight into risks and significantly enhance many aspects of the insurance life cycle, from prospect identification, intake, validation, underwriting, claims, and renewal to book, market, and product assessment.
In less than a year, Carpe Data has achieved success after success, from raising $6.6 million in Series A funding from Aquiline Technology Growth to a swiftly expanding list of clients and partnerships—most recently implementing their highly predictive online data for claims processing at Allstate with significant results. Carpe Data is led by a team with deep processing roots, uniquely poised to leverage data and technology.
As a leader in InsureTech in the U.S., Carpe Data is focused on fine-tuning its existing products and introducing new products targeted to international markets. “Like the traditions and customs of different countries, there is blend of shared and unique challenges for insurance carriers in each market. We’re excited to bring our capabilities to these markets, and customize our products to meet the specific needs of each,” he explained.
With every iteration, the team at Carpe Data finds new ways to apply the company’s technology to better assist insurance companies increase productivity and profitability, while continuing to provide best-in-class service that meets the highest regulatory standards.
Since inception, Carpe Data has been a leader in defining the methodologies needed to ensure compliance with regulatory and privacy requirements within this new world of next generation data. As it expands internationally, the company has already completed the analysis and required infrastructure buildout to meet the rules of the GDPR (General Data Protection Regulation), a regulation designed to harmonize data privacy laws across Europe that goes into effect May 18, 2018.