Launches Insurance Intelligence platform empowering insurers to create more flexible, modern insurance products that adapt to new consumer risks while positioning carriers for stronger growth
AUSTIN, Texas, May 31, 2022 /PRNewswire-PRWeb/ -- Cloverleaf Analytics (Cloverleaf), the leading provider of insurance intelligence solutions, today is pleased to announce several new capabilities powered by AI, machine learning (ML), advanced analytics, and data security technologies marking the transition from being a BI vendor to a broader Insurance Intelligence platform. Additionally, the company is excited to announce a new on-demand training resource to enable customers to maximize the ROI of the Cloverleaf platform.
"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 Robert Clark, President of Cloverleaf Analytics. "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."
As Cloverleaf is marking the evolution of its platform, the company is proud to note an 87% year-over-year increase in end-users. The lineup of new capabilities serving these customers includes:
Quoting Module
- Using 28+ ML libraries and AI, Cloverleaf is empowering carriers to improve the potential profitability and revenue of every insurance transaction with a new quoting module.
- The new module analyzes the number and frequency of quotes to determine the optimal quote to offer customers while minimizing the number of quotes issued.
- The capability determines geographic and demographic hot spots for quoting along with additional sales opportunities that carriers could capitalize on.
Cloverleaf-Snowflake Data Lake
- The company has successfully migrated its platform to Snowflake enabling the combination of Cloverleaf structured insurance data, semi-structured data, and unstructured data of any format including spanning different cloud computing platforms and regions.
- With ML analysis in a unified insurance data platform, the Snowflake Data Marketplace gives Cloverleaf users access to 1,100 live and ready-to-query data sets from over 240 third-party data providers and data service providers.
- The Cloverleaf Snowflake data lake features a simplified architecture with an elastic engine to power many workloads. This translates to virtually no concurrency issues or resource contention when running complex analysis or AI/ML algorithms on insurance data.
- The integration enhances the security of customer data while also improving customer visibility of how their data is used and controlled in the Cloverleaf platform. The collaboration easily integrates external data without having to build ETLs with the Data Marketplace where third-party data can be accessed directly through the Cloverleaf platform.
The AI/ML features in the new quoting module and Cloverleaf-Snowflake data lake will enable insurers to proactively predict new insurance risks, products, and appropriate pricing to attract diverse consumer and business client segments.
In addition to the new capabilities, Cloverleaf is elevating its efforts to empower insurance professionals to maximize the value of their data through the creation of a new learning management system. Data scientists, actuaries, senior executives, and other business users will have access to:
- Online Courses – users can learn at their own pace with business discipline-specific course tracks designed to help business executives, data scientists, and others learn the basic to advanced capabilities of the Cloverleaf Insurance Intelligence platform.
- Instructor-Led Classes - sign up for any number of instructor-led classes each month to learn new capabilities of Cloverleaf with a live interactive instructor
- Video Library - access Cloverleaf's video library to see pre-recorded content on specific topics and get right to the skills users want to learn.
- Knowledge Base and Community Forum – users can review questions and comments from other users and ask their own questions to the Cloverleaf user community.
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About Cloverleaf Analytics (Cloverleaf)
Cloverleaf Analytics is the leader in insurance intelligence solutions, having evolved from Business Intelligence (BI) into providing advanced tools using ML and other emerging technologies to empower carriers to achieve unparalleled growth. Cloverleaf enables carriers in diverse lines of business to create modern products that help insurers remain competitive against new market entrants while redefining what consumers and businesses understand as the meaning of insurance value. For more information, please visit http://www.cloverleafanalytics.com.
Media Contact
Thomas Chesbrough, Cloverleaf Analytics, 1 303.829.8715, [email protected]
SOURCE Cloverleaf Analytics
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