Underwriting technology company Two Sigma Insurance Quantified (TSIQ) has partnered with Central Analysis Bureau (CAB), a risk assessment tools and data provider for the transportation insurance industry.
The partnership will embed CAB’s commercial trucking dataset into TSIQ’s underwriting workbench, SubmissionIQ, through an application programming interface connection. Clients’ submission data will then be able to be combined with the CAB dataset, allowing for automatic data verification and enrichment and additional analytics at individual risk and portfolio levels.
Included in CAB’s dataset are basic scores, including unsafe driving and hours of service, and safety scores such as insured vehicle out of service rates and insured hazmat out of service rates.
Jeff Tyler, head of product, data science and engineering at TSIQ, says: “We appreciate that access to quality, relevant third-party data is critical for distribution responsiveness, risk selection and exposure analyses. By tightly integrating CAB data with our platform, we haveenhanced 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 prioritise and evaluate individual and portfolio-level risks.”
Shuie Yankelewitz, chief operating officer at CAB, comments: “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.”
