Penn National Insurance Selects DataCubes to Automate Its Underwriting Process
DataCubes, a leading decision automation platform for commercial P&C underwriting, announced today that Penn National Insurance, a property-casualty mutual insurance company, founded in 1919 and headquartered in Harrisburg, Pennsylvania, has selected DataCubes to improve its underwriting process.
As part of the agreement, Penn National Insurance will utilize DataCubes’ d3 Risk 360™ and d3 Answers™ to help its underwriting team substantially increase the efficiency and speed of its commercial P&C quote process.
“DataCubes will enable our underwriting team to quickly identify underwriting risk characteristics and to systematically collate relevant underwriting data from various sources to improve business agility and the decision-making process,” said Randy Mancini, vice president, Commercial Lines at Penn National Insurance.
DataCubes’ AI-driven d3 Underwriting™ platform is trained to emulate the best practices of a human underwriter. With its machine learning models, DataCubes analyzes and interprets over four billion data points to build robust business profiles that help carriers discover important underwriting insights and risk characteristics in near real-time.
“With our AI analyzing the digital footprint of a business, and reducing the number of underwriting questions that need to be asked manually, Penn’s underwriters will have a lot more time to dedicate to the human side of underwriting,” said Kuldeep Malik, co-founder and CEO at DataCubes. “This technology will enable a more consistent and comprehensive review process, thereby resulting in reduced expenses and loss.”