Native integration enables automated data enrichment and actionable analytics for commercial transportation underwriting
Two Sigma Insurance Quantified (TSIQ), a leading underwriting technology company for the commercial property and casualty industry, today announced a partnership with Central Analysis Bureau (CAB), a leading provider of risk assessment tools and data for the transportation insurance industry. Through this agreement, CAB’s entire industry-standard commercial trucking data will be embedded directly into SubmissionIQ, TSIQ’s underwriting workbench. Clients will be able to automatically verify, enrich or replace application data and perform additional analytics at the individual risk and portfolio levels by combining submission data with the CAB dataset.
CAB’s proprietary system for rating, tracking and analyzing the financial and safety strength of motor carriers has been developed over the company’s 80-year history and will now be accessible in SubmissionIQ through a dedicated API connection. The new partnership and native data integration with CAB are emblematic of TSIQ’s commitment to empowering underwriting talent by creating efficiencies and supplying the data-driven insights needed to make more informed risk decisions.
“We appreciate that access to quality, relevant third-party data is critical for distribution responsiveness, risk selection and exposure analyses,” said Jeff Tyler, Head of Product, Data Science and Engineering at Two Sigma Insurance Quantified. “For decades, the CAB team has been the trusted source of this data for the commercial transportation sector. By tightly integrating CAB data with our platform, we’ve further enhanced the underwriter’s experience by simplifying the workflow, bringing the power of CAB directly into the same platform teams are using to ingest submission data, and prioritize and evaluate individual and portfolio-level risks.”
“For decades, the CAB team has been the trusted source of this data for the commercial transportation sector. By tightly integrating CAB data with our platform, we’ve further enhanced the underwriter’s experience by simplifying the workflow, bringing the power of CAB directly into the same platform teams are using to ingest submission data, and prioritize and evaluate individual and portfolio-level risks.”
– Jeff Tyler, Head of Product, Engineering & Data Science
“TSIQ has unmatched data and analytics capabilities, which they are making available to the commercial P&C industry via their SubmissionIQ platform,” said CAB Chief Operating Officer Shuie Yankelewitz. “SubmissionIQ is one of the only underwriting workbench technologies that has a tailored approach for commercial trucking. We are excited to make CAB data available to their growing client base and look forward to furthering our joint mission of promoting safer practices within the transportation space through our partnership.”
CAB data available through the connection will include Basic Scores such as Unsafe Driving, Hours of Service, Driver Fitness and Vehicle Maintenance, and Safety Scores such as Insured Vehicle Out of Service Rates (OOS), Insured Driver OOS and Insured Hazmat OOS.
About Insurance Quantified
Insurance Quantified is an underwriting technology provider that arms commercial property and casualty insurance carriers and MGAs with the data and analytics they need to grow their business, improve underwriting profitability and be a preferred partner and employer. Backed by Two Sigma, a pioneer and global leader in the financial sciences, we believe that systematically delivering the right data to the right people at the right time through a unified underwriting workbench will enable faster coverage decisions, more agile product innovation and significant risk reduction for all participants in the underwriting value chain. Learn more at insurancequantified.com.
About Central Analysis Bureau (CAB)
CAB is a leading data supplier to the insurance industry, finance industry, motor carriers, and others. With more than 80 years of experience and millions of safety records, we provide a world of data translated into meaningful and actionable information, whatever your industry. CAB is part of Randall Reilly’s Risk Intelligence Division.
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