Carpe Data, a provider of next-generation data products for the insurance industry, has launched its suite of solutions to the international market.
Headquartered in Santa Barbara, California, the company will initially launch its data solutions to the United Kingdom, before targeting other markets. It serves the insurance industry with automated data and predictive scoring solutions, allowing carriers to leverage online data and enabling them to gain greater insight into risks. Carpe Data’s solutions aims to significantly enhance many aspects of the insurance life cycle, from prospect identification, intake, validation, underwriting, claims, and renewal to book, market, and product assessment.
The company claims to be a leader in defining the methodologies needed to ensure compliance with regulatory and privacy requirements. To expand 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.
“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.”
In its commitment to delivering unique data legally and with consumer privacy in mind, the company also adheres to the guidelines of the Fair Credit Reporting Act (FCRA).
Last year, Carpe Data closed $6.6m in Series A funding, led by Aquiline Technology Growth (ATG), with participation from Carpe Data’s existing investors. The capital was used to bring its suite of predictive data products and tools to more insurers as well as broaden and accelerate new product development.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
