Carpe Data launches commercial data platform

Santa Barbara-based Carpe Data , a provider of emerging and alternative data products for the insurance industry, has announced the launch of a new commercial dataset for P&C insurers.

With this launch, we’re delivering brand new data on more than 25 million businesses to commercial lines insurers . Insurance companies now have a powerful new source for answering existing questions, as well as for evaluating many new dimensions of risk not previously available.” – Carpe Data CEO, Max Drucker.

The platform includes: The Carpe Data Classification System, which provides more accurate classification categories, enabling insurers to gain a clear sense of the specific activities the business actually conducts; Risk Characteristics, which offers an array of data points that identify current attributes of a business; and Next Generation Score and Indexes – predictive scoring mechanisms of various business dimensions made available by leveraging emerging and alternative data.

Finally, the platform – available via API –  has already been proven by the company’s existing customers to improve the accuracy of any P&C insurer’s underwriting of coverages for small and mid-size commercial companies.