The Hanover Insurance Group has expanded its partnership with Carpe Data, which provides emerging and alternative data solutions for the insurance industry.
The extended partnership is part of the insurer’s move to further bolster its claims processing capabilities by levering Carpe Data’s claims monitoring solution ClaimsX.
ClaimsX utilises publicly available web data for live assessment and decision making, from first notice of loss to resolution.
This solution alerts The Hanover of claims that need attention from a claims adjuster using highly predictive online content. It is said to enable the insurer to carry out an effective claims process.
ClaimsX solution was first deployed at The Hanover earlier this year.
The insurer is now expanding the solution to monitor open injury claims across more lines of business, after noticing measurable impact.
The Hanover claims vice president Douglas Kratzer said: “Carpe Data has been a great partner in helping us strengthen the claims handling process.
“ClaimsX helps provide our claims staff with new insights to make informed, accurate and timely decisions. We look forward to an expanded partnership that will continue to meet our goals of increased efficiency, reduced potential fraud and improved customer experiences.”
Carpe Data CEO and co-founder Max Drucker added: “Emerging data is driving digital transformation across the insurance industry and carriers like The Hanover are paving the way.
“We are excited to expand our partnership with a forward-thinking partner to streamline claims and fight fraud.”
In September this year, The Hanover rolled out a new suite of coverages to protect homeowners who generate income through home-based businesses or short-term rentals of their properties.
Last year, the company announced the launch of Hanover Financial Institutions Advantage for asset managers.