Cloverleaf Analytics partners with auto insurers on real-time data management

Cloverleaf Analytics, an insurance intelligence solutions company, recently announced partnerships with auto insurance carriers United Automobile Insurance Company and Citizens United Reciprocal Exchange (CURE). 

The deals aim to leverage Cloverleaf’s proprietary policy management capabilities and Guidewire’s digital claims experience to “enable advanced insights regarding quote, policy and claims enterprise data in real-time,” according to a company press release. The partnerships come off the heels of Clovereaf’s investment into its suite of new AI-driven advanced analytics and data security technologies. 

Robert Clark, president and CEO of Cloverleaf Analytics, told Digital Insurance that the company is consolidating and aggregating data in real-time, into one place.

“In our data lake we’re pulling all of their premiums, their losses, reinsurance billing, their treaties, cash calls, everything,” says Clark. “Once we pull it in, we aggregate that up in our data warehouse where we calculate over 900 different KPIs. Everything from premium to loss ratios, to things like customer loyalty indexes. On top of that, we’ve got over 28 different machine learning libraries and AI capabilities, including full integration of Python and R. We have actuaries creating scripts and learning models that will actually learn from their data and make recommendations.”

The evolution of the company’s platform includes its new quoting module which utilizes machine learning to determine the optimal quote to offer customers, and its Snowflake Data Lake, which according to the company, offers “users access to 1,100 live and ready-to-query data sets from over 240 third-party data providers and data service providers.”

“In the last three years, we have expanded our platform introducing NLP and chatbots leveraging insights from actuaries and data scientists to our latest AI/ML, advanced analytics, and data security capabilities. The combination of insurance data and these technologies is what we are terming Insurance Intelligence,” said Clark in a press release. “In parallel with our path of innovation the world has significantly changed with new risks and new technologies that connect every aspect of consumer life. Our innovative insurance intelligence platform is built from the ground up with today’s and tomorrow’s insurance needs in mind.”

Dean Kozlowski, vice president of product and compliance at UAIC said in a press release that Cloverleaf offers solutions needed to integrate data from its internal systems and third-party sources. The company’s platform allows UAIC to structure data in a way that makes it more consumable by internal users. 

“Beyond improving our rate making, Cloverleaf will deliver a complete view of the business providing insights across systems which will enable the design of new and innovative products and processes. As a niche carrier, we see it as a competitive advantage to use data more intelligently and completely than our competition as we make adjustments to existing products to deliver more value and an improved experience to customers. Additionally, we are confident that we will be able to leverage these insights into our overall business operations to lower costs and improve profitability.”

In addition to the new capabilities, the company is also investing in its learning management system which will allow users to access business discipline-specific online courses, interactive instructor-led classes, and Cloverleaf’s library of pre-recorded content. Users can also review questions and comments from other users and ask their own questions via Cloverleaf’s online community forum.