In this episode, Rob and Lee chat with Max Drucker, CEO and founder of Carpe Data, about the evolution of data usage in the insurance industry. Max shares insights into how Carpe Data harnesses innovative data products to automate decisions and predict insurance outcomes. From exploring the value of alternative data sources to discussing how AI and machine learning are revolutionizing the space, this episode offers a deep dive into the future of data-driven insurance solutions.

Key Highlights:

• Introduction to Carpe Data and its mission in the insurance industry.
• The company’s journey from inception to Carpe Data’s current focus areas.
• How Carpe Data leverages AI and machine learning to process vast amounts of data.
• The benefits of data automation and prediction for insurance carriers.
• Real-world applications of Carpe Data’s solutions in detecting fraud and improving underwriting.
• Discussion on the competitive landscape and Carpe Data’s unique positioning.

Quotes:

• "Carpe Data is a data company through and through. We make data products specifically for insurance carriers." – Max Drucker
• "Insurers are the original data scientists, predicting outcomes for literally centuries." – Max Drucker
• "We’re looking to create something that’s unique and provides a selection advantage for carriers." – Max Drucker
• “Predicting outcomes and using this type of information to predict outcomes is what carriers want.” – Max Drucker