News

CHICAGO (September 10, 2019) -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 Underwriting Command Center 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 National’s underwriters will have a lot more time to dedicate to the human side of underwriting,” said Harish Neelamana, Co-founder and President at DataCubes. “This technology will enable a more consistent and comprehensive review process, thereby resulting in reduced expenses and loss.”

About Penn National Insurance

Founded in 1919, Penn National Insurance provides property and casualty insurance through a network of 1,200 independent insurance agency operations in 11 states: PA, MD, DE, NJ, VA, NC, SC, TN, AL, WI, and IA. The company has an A.M. Best financial rating of A- (Excellent), with admitted assets totaling $1.8 billion.

AI & machine learning research & academic partnership with St Joseph University Maguire Academy of Risk and Insurance Management - Haub School of Business to advance AI

CHICAGO (Aug. 27, 2019) - DataCubes, the leading decision automation platform that helps commercial P&C insurance carriers automate intelligence gathering, discover important underwriting insights and make better underwriting decisions in near real-time, today announced a collaborative partnership with St. Joseph University, one of the top insurance schools in the country.

Through the relationship, DataCubes and St. Joseph University’s Risk Management and Insurance program will collaborate to design, implement and monitor a mutually beneficial research program. The program, which aims to build on existing insights and broaden research in the field of AI and machine learning, will initially focus on bringing DataCubes’ technology to the classroom.

DataCubes’ d3 Underwriting™ platform, which uses AI and machine learning to help commercial insurance carriers optimize and automate the underwriting decision process, will be integrated into the students’ curriculum. DataCubes will help facilitate research projects, offering guidance and mentorship, best practices on innovation, as well as internships to St. Joseph’s Risk and Insurance Management students. The partners will also collaborate on the university’s annual insurtech symposium.

“St. Joseph University’s Risk Management and Insurance program consistently ranks in the top five undergraduate insurance programs in the country and we are thrilled to be sharing expertise and working with some of the best scientific minds in the country,” said Harish Neelamana, DataCubes co-founder and chief product officer. “The research we do together will have the potential to influence the evolution of the entire industry!”

“This immersive program will nurture talent, ideas and discoveries,” said Michael Angelina, executive director of the Academy of Risk Management and Insurance at Saint Joseph’s University. “We look forward to working with DataCubes on our vision to bridge academia and business with the goal of developing talent and advancing the insurance industry.”

The mission of the Maguire Academy of Insurance and Risk Management is to promote and support the concept of risk management and insurance education; to provide services to risk management and insurance students, including scholarship aid, recruiting, internships/cooperative education, counseling and placement; and, with and through the University, to support the Department of Finance, which houses the risk management and insurance program.

About DataCubes

Headquartered in Schaumburg, Illinois, and founded in 2016 by Kuldeep Malik and Harish Neelamana, DataCubes is the first decision automation platform for commercial P&C underwriting. The company has revolutionized the commercial underwriting process with cutting-edge AI and data science. Commercial carriers of all sizes use DataCubes to make real-time underwriting decisions based on rich data and highly accurate intelligence gathered by external sources to improve productivity, profitability, efficiency and accuracy. To learn more, visit datacubes.com.

About Maguire Academy of Insurance and Risk Management

Created by James Maguire ’58, founder of Philadelphia Insurance Company, the mission of the Maguire Academy of Insurance and Risk Management is to promote and support the concept of risk management and insurance education; to provide services to risk management and insurance students, including scholarship aid, recruiting, internships/cooperative education, counseling and placement; and, with and through the University, to support the Department of Finance, which houses the risk management and insurance program.

CHICAGO (July 9, 2019) -DataCubes, a leading decision automation platform for commercial P&C underwriting, announced today that Columbia Insurance Group has selected DataCubes' AI-enabled underwriting technology to power their agent portal. Through the partnership, Columbia will utilize DataCubes' risk analysis and decisioning tools, d3 Risk 360™ and d3 Answers™, to uncover deep underwriting insights while increasing quote accuracy and turnaround time.

DataCubes' Underwriting Command Center platform includes a data lake that aggregates over two billion data points from a broad array of internal and external sources including government entities, public records, company websites and more. With its machine learning models, DataCubes organizes and analyzes this data and automatically answers underwriting questions based on the digital footprint of a business. This enables Columbia to substantially reduce the agent's effort to obtain a quote while maintaining its high underwriting standards.

"We're proud to be helping Columbia make data-driven underwriting decisions that reduce expenses, minimize losses and provide a near real-time customer experience," said Harish Neelamana, Convr Co-founder and President.

"We strive to be the most valuable commercial carrier in our market," said Scott Mackey, chief underwriting officer at Columbia. "To achieve that goal, we rely on our highly talented underwriting team and their ability to build enduring, personal relationships with our customers, our agents. Our partnership with DataCubes will increase the speed and accuracy of our data collection, thereby improving our risk selection while freeing up our team to build stronger customer relationships."

CHICAGO (Jun. 3, 2019) - DataCubes, a leading decision automation platform for commercial P&C underwriting, announced today that Selective Insurance Company of America, the lead insurance company of Selective Insurance Group, Inc., has chosen to work with DataCubes to develop technology that will help increase underwriting productivity. Selective Insurance will initially implement DataCubes’ d3 Risk 360™ and is looking at other technology solutions within DataCubes suite of products.

d3 Risk 360 is built on a data lake that aggregates over two billion data points from a broad array of internal and external sources including government entities, public records, company websites and more. DataCubes organizes and analyzes this data with its machine learning models to build robust business profiles that surface deep underwriting insights in a matter of minutes.

“The underwriting process requires a significant amount of data, which in some cases would require Selective’s underwriters to mine data from over 80 different places. In the spirit of continuous improvement, the company wanted a solution that would enable their team to more efficiently and accurately capture risk intelligence,” said Kuldeep Malik, DataCubes co-founder and CEO. “Our technology was able to replace an overwhelming number of sources with a single destination, eliminating a great deal of time spent researching and retrieving data.”

“Our best-in-class team of underwriters work hard to ensure their data research is thorough. The solution from DataCubes will help reduce time-consuming manual processes, enhance risk selection and significantly improve productivity,” said Brian Sarisky, Senior Vice President, Chief Underwriting Officer, Commercial Lines at Selective Insurance.

Workers compensation MGA to automate the intake of applications and loss runs for increased speed and accuracy

CHICAGO (May 16, 2019) -DataCubes, a leading decision automation platform for commercial P&C underwriting, announced today its partnership with Synergy Coverage Solutions (Synergy), a leading niche workers compensation MGA operating primarily in the Southeast and Midwest. Synergy Coverage Solutions’ paramount claims handling, underwriting and loss prevention services have lead them to outperform industry results by 38%. Through the partnership, Synergy will utilize DataCubes’ AI-powered intake platform, d3 Intake™, to automate the intake of ACORD forms and loss run documents.

“Our partnership with DataCubes helps us further our commitment to providing world-class service to our agents and insureds,” said Jill Bowyer, COO at Synergy. “Documents that previously took days or weeks to process are now being digitized and completed in a matter of minutes. Our submission process and underwriting efficiencies have greatly improved.”

With DataCubes’ machine learning and computer-vision technology, Synergy’s underwriters will be able to eliminate manual data entry during the intake process which typically consists of hundreds of pages of structured and unstructured data. In addition, d3 Intake analyzes inputs in near real-time in order to find missing information and to resolve quality issues, enabling agents to receive quotes faster and with greater accuracy.

“It is an honor to be working with carriers such as Synergy who are making major technical advances to increase productivity and to optimize their underwriting processes,” said Kuldeep Malik, DataCubes co-founder and CEO. “With our intake solution, Synergy’s underwriters are able to draw insights quickly and can focus more of their time applying their specialized knowledge and expertise to each quote.”

About DataCubes

Headquartered in Schaumburg, Illinois, and founded in 2016 by Kuldeep Malik and Harish Neelamana, DataCubes is the first decision automation platform for commercial P&C underwriting. The company has revolutionized the commercial underwriting process with cutting-edge AI and data science. Commercial carriers of all sizes use DataCubes to make real-time underwriting decisions based on rich data and highly accurate intelligence gathered by external sources to improve productivity, profitability, efficiency and accuracy. To learn more, visit datacubes.com.

About Synergy Coverage Solutions

We are opportunity driven workers’ compensation specialists whose focus is on profitable growth. Dedicated to customer service, we combine flexible product offerings with customized loss prevention and proactive claims management. We add value to our Policyholders, Agents, and Insurance Company partners through trusted, long term relationships, creativity, and high quality customer service. Collaboratively, we create a synergistic effect to produce superior, long lasting results for all. To learn more, visit synergyinsurance.net.

CHICAGO (April 8, 2019) - DataCubes, a leading decision platform for commercial P&C underwriting, announced today its partnership with Tangram Insurance Services, Inc. ("Tangram"), a full-service managing general underwriter and program manager offering specialty programs. Tangram is utilizing DataCubes' AI-powered intake technology, d3 Intake™, to strengthen underwriting productivity and to offer increased value to their carrier and broker partners through their specialty insurance programs.

d3 Intake leverages machine learning and computer-vision technology to more efficiently and accurately process ACORD forms, loss runs and other documents. Through this integration, Tangram is eliminating manual data entry and validation. This allows them more time to serve their clients as they do best - by applying their specialized knowledge and expertise to each quote and by offering customized niche solutions tailored to help their clients reduce losses and more effectively manage risk.

"A big part of our relentless pursuit to be the best program partner in the industry is leveraging technology to provide next-level service," said Rekha Schipper, CEO of Tangram. "DataCubes has been essential in powering our business with the accurate processing and presentation of data so our underwriters can focus on the human elements of analyzing risk and interacting with our distribution channel."

"Tangram is highly regarded in the specialty program space and we are proud our decisioning platform has helped them strengthen their position as a leading program partner," said Harish Neelamana, DataCubes Co-founder and President. "This technology integration is helping Tangram's team deliver an exceptional experience to their customers."

About Tangram

Tangram Insurance Services, Inc. is a national program manager bringing in-depth expertise and specialized program capabilities to a variety of industries. With 20 years of experience in the program space, Tangram partners with top insurance companies to deliver niche insurance solutions through focused partner brokers. For more information, please visit tangramins.com.

Insurtech startup empowers commercial P&C insurers to increase underwriting productivity 10x

Schaumburg, IL — DataCubes, a leading data science startup whose solutions improve commercial underwriting productivity by up to 10x, today announced its completion of the Plug and Play tech accelerator program. During a three-month period, DataCubes benefited from expert advice, exposure to investors and connection with the 61 insurance companies affiliated with the program. DataCubes is now well-positioned to continue to help commercial P&C insurers provide a world-class customer experience while becoming an order of magnitude more efficient in underwriting.

“Plug and Play was an excellent experience to get more exposure as we work towards our vision of enabling commercial underwriting with as little information as possible,” said Kuldeep Malik, DataCubes cofounder and CEO. “I would highly recommend Plug and Play for other insurtech startups that have formed a solid vision and could use the resources of the program to help them reach their full potential.”

“At Plug and Play, we connect the best technology startups with the world’s largest corporations,” said Ali Safavi, Global Head of Insurtech at Plug and Play. “DataCubes is a great example of how an insurtech startup can use our program to help accelerate their growth.”

Since joining Plug and Play in February, DataCubes has had the opportunity to connect with the insurance companies affiliated with the program, participate in demo days with investors and forge solid relationships with other insurtech companies. During this time, DataCubes was also able to stay focused on evolving its products, onboarding new customers and assisting prospects with determining how its solutions fit into their strategies.

About DataCubes

DataCubes is the first data science platform for commercial underwriting. We help carriers improve customer engagement, underwriting productivity, and profitability. Our platform uses data science to eliminate paperwork, provide a holistic view of risks by analyzing a broad array of internal and external data sources, and score and prioritize commercial risks. To learn more, visit www.datacubes.com.

About Plug and Play

Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 20 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 220 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk. For more information, visit www.plugandplaytechcenter.com.