people bowling
people bowling

minerva tag Classify & Describe

Is it a bar? A bowling alley? Maybe both? Does Your Landscaper Climb Trees? Does Your Contractor Also Work on Plumbing?

Is it a bar? A bowling alley? Maybe both? Does Your Landscaper Climb Trees? Does Your Contractor Also Work on Plumbing?

Classify & Describe

Each business has its specialization and carries a unique level of potential risk. They are dynamic, and often expand and change as trends emerge and the market shifts. Traditionally, keeping pace with this change has been a time-consuming, expensive and manual process for underwriters. These challenges alone have resulted in small commercial insurers leaving millions on the table – every year. A solution was needed.

Minerva’s classify and describe products are the solution purpose-built for underwriters. Offering a more complete picture of a business, underwriters can now confidently assign NAICS, SIC or your unique codes, identify and analyze potential risk and so much more in seconds, not days. Applied independently or utilized together, Minerva will empower your insurance lifecycle strategy by driving automation and improving insurance outcomes.

HERE’S WHAT THOSE BENEFITS CAN LOOK LIKE FOR YOU

increase classification accuracy

INCREASE CLASSIFICATION ACCURACY

Improvement in classification means your book better reflects your actual risk.

better underwriting

BETTER UNDERWRITING

Access to previously unleveraged information means more insightful underwriting and pricing.

accelerated processing

ACCELERATED PROCESSING

Automatically validate applications to save time and money, while greatly improving the customer experience.

prevent adverse selection

PREVENT ADVERSE SELECTION

Actively select for the businesses with attributes you want, and leave the rest behind.

stop premium leakage

STOP PREMIUM LEAKAGE

Never miss an opportunity to apply the right limits and coverages.

upsell/cross-sell opportunities

UPSELL/CROSS-SELL OPPORTUNITIES

Unlock opportunities to expand coverage by uncovering previously unknown business attributes.

Classify & Describe Product Elements

ClassificationProfiles BusinessCharacteristics

Other Carpe Data Products

By applying various filters we know impact insurance outcomes, Minerva distills our robust proprietary data into a suite of predictive and reliable indexes you can count on.

VIEW PRODUCTS

Using data to drive claims automation, ClaimsX unlocks operational efficiency across the claims lifecycle through decisioning, data enrichment and monitoring.

VIEW PRODUCTS

Download our White Paper

Maximizing Value from Social and other Online Data for Insurance.