Photo: Kuldeep Malik / Credit: DataCubes
DataCubes is a Schaumburg, Illinois-based company that has created the first decisioning platform for commercial P&C underwriting. Founded by Kuldeep Malik and Harish Neelamana in 2016, DataCubes has grown rapidly. The company will reach 70 employees this year and has grown its customer base by 6 times in 2018. Over the last few months, DataCubes signed several partnerships with big carriers like RLI, WCF, and Tangram.
With machine learning and cutting-edge data science, DataCubes is revolutionizing the underwriting process in the $250 billion commercial insurance industry by automating the data intake process and automatically answering complex underwriting questions by using thousands of data sources. With this process, the company is able to generate deep underwriting insights in minutes.
Commercial carriers of all sizes use DataCubes for making real-time underwriting decisions based on this rich data and highly accurate intelligence that is gathered by external sources to improve productivity, profitability, efficiency, and accuracy. Usually, the typical process of underwriting consists of dozens of manually entered documents, weeks of work, and many searches on Google. DataCubes is striving to reduce this process down to two pieces of information.
DataCubes’ partnership with RLI involves the optimizing of key portions of their underwriting processes. With DataCubes’ AI-powered intake, risk analysis, and scoring tools, RLI can provide their agents with quotes much faster and more accurately.
Earlier this year, DataCubes announced that it hired Glenn Cannon as the company’s VP of sales. Prior to joining DataCubes, Cannon was an executive at companies like CDK Global, TransUnion, and most recently Applied Systems — where he led the top performing sales team in the history of the company.
Tangram is another major partner for DataCubes. DataCubes’ AI-powered intake technology known as d3 Intake is being integrated at Tangram to improve customer experience and to lay the foundation for continued innovation. With d3 Intake, Tangram is able to efficiently and accurately process ACORD forms, loss runs, and other documents. This will eliminate substantial manual data entry and validation requirements for Tangram. And it enables the company to spend more time to serve their clients as they do best – by applying their specialized knowledge and expertise to each quote.
“A big part of our relentless pursuit to be the best program partner in the industry is leveraging technology to provide next-level service,” added Tangram CEO Rekha Schipper in a recent statement. “DataCubes has been essential in powering our business with the accurate processing and presentation of data so our underwriters can focus on the human elements of analyzing risk and interacting with our distribution channel.”
