- Terrene Labs provides ease of doing business by requiring only four fields for customers or agents to seek qualification and a quote for their business risk, thus reducing significant friction in the process
- By building a comprehensive risk profile on the business from thousands of structured and unstructured data sources, Terrene standardizes the underwriting process, avoids costly manual effort to underwrite each one individually, lowers the bind time, and produces higher conversion rates
- Additionally, carriers are able to achieve high straight through processing by streamlining the submission flow to kick out risks that do not fit in their appetite by applying knockout rules, and further by providing analysis on unstructured data to empower their decision rules for underwriting
Terrene Labs, a data science company, provides comprehensive exposure information on small and mid-sized businesses to facilitate faster, more accurate and effective underwriting by commercial property/casualty insurers. Drawing on risk profile information collected from thousands of structured and unstructured data sources, Terrene also enables insurers to streamline the underwriting workflow for agents, brokers and direct buyers, enhancing potential growth opportunities.
Terrene Labs and Duck Creek have developed an Anywhere Enabled Integration using a prefill scenario in the Duck Creek Policy workflow to enable more straight through processing during underwriting procedures. The integration can be found in the Duck Creek Content Exchange.