DataCubes, a decision automation platform for P&C underwriting, will be providing its technology to P&C mutual insurance company Penn National Insurance.
As part of the deal, Penn National Insurance will leverage the DataCubes solution to help its underwriting team improve the efficiency and speed of its commercial P&C quotes process.
By making use of Datacubes, Penn Insurance expects its underwriting team will be able to quickly identify underwriting risk characteristics and systematically collate relevant underwriting data from various sources to improve decision making.
Datacubes is powered by AI and machine learning models to analyse and interpret more than four billion data points to create strong business profiles which help carriers discover important underwriting insights and risk characteristics in near real-time.
DataCubes co-founder and CEO Kuldeep Malik said, “With our AI analysing 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,” “This technology will enable a more consistent and comprehensive review process, thereby resulting in reduced expenses and loss.”
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