ATLANTA, Dec. 6, 2023 /PRNewswire/ -- Cogitate Technology Solutions announces the pre-integration of Confianza's property and auto data sets with DigitalEdge Insurance Platform to enhance data validation at submission, strengthen risk selection, and support renewals with real-time data. Integrating this data into the policy administration system is also critical to Know Your Customer. P & C insurers and DUAEs realize new opportunities to improve customer selection, reduce cycle times, and meet goals for profitable growth by implementing automated underwriting capabilities enhanced by trusted third-party data integrations.
"The expansion of our ecosystem of trusted third-party data providers is very intentional. With these highly vetted partners, we're infusing data into the submission and underwriting process to reduce premium leakage, improve risk and customer selection, and speed the underwriting process for all stakeholders across the policy lifecycle. Confianza shares Cogitate's passion for data science and predictive modeling and we see them as an exciting fit," shares Samir Salem, EVP, of Customer Success for Cogitate.
Automating the submission process with data prefills creates an elegant, streamlined experience for agents and underwriters, reducing manual input, and offering immediate feedback on risk appetite for many lines of business. The intelligent, automated data prefill is a game changer for underwriters by identifying misinformation and omissions, prioritizing submissions most likely to bind, and ultimately reducing leakage.
"We're excited to partner and integrate with Cogitate's DigitalEdge Insurance Platform. The integration enables an instant customer 360 view of personal and business risks requiring just a name and address. Confianza's comprehensive and fully integrated data and analytics platform provides deeper and more reliable insights about personal and commercial risks, taking into consideration inflation, commodity factors, and more," explains John Petricelli, Chief Data Officer for Confianza.
About Confianza Confianza is an innovative data solutions company providing instantaneous, comprehensive information via a powerful API and integration platform, empowering carriers, MGAs, and brokers with comprehensive data and prescriptive analytics. Based in Florida, with offices in the Atlanta and Washington DC Metros, Confianza serves the needs of insurance and financial service professionals throughout the country with a fully integrated database of America of more than 260M individuals, 150M households, and 50M businesses encompassing more than 2,300 attributes. Data attributes also cover approximately 200M properties with additional insights about non-human perils, risk, and crime.
For more information about Confianza visit www.confianzaus.com
The Cogitate DigitalEdge Insurance Platform digitalizes insurance across the value chain, offering insurance carriers, MGAs, wholesale brokers, and program managers a smooth transition to cloud-native, data-driven core underwriting, policy, billing, and claim applications.
The unified insurance platform unlocks the value of your own data and advances the power of third-party data for profitable growth, superior risk selection, and a streamlined, modern user experience.
Backed by more than 100 combined years of comprehensive experience and domain knowledge, our products are uniquely designed to meet the needs of insurance businesses of every size. Find out why Cogitate maintains 100% client retention.
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SOURCE Cogitate US