The startup offers a data analysis platform that manages the entire lifecycle of insurance policies, from consumer acquisition to service and renewal. By modernizing the point-of-sale customer acquisition process, the platform enables insurance companies to enhance revenue and expand their customer base.
Funding
$3.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
SIFounders
Product
Problem
Insurance companies face challenges in effectively managing the entire lifecycle of insurance policies, from acquiring new customers to providing ongoing service and renewals. Incomplete or inaccurate data hinders their ability to make informed decisions, leading to missed opportunities for revenue growth and customer base expansion.
Solution
Confianza provides a data analytics platform that delivers a comprehensive, 360-degree view of customers, risks, and exposures, enabling insurance professionals to make better decisions and improve outcomes throughout the insurance policy lifecycle. The platform leverages advanced analytics, AI, and machine learning to create entity risk profiles and link them to an extensive database of over 700 million combined entities, including businesses, properties, vehicles, adults, and household demographics. By providing instant access to actionable data and predictive loss analytics, Confianza empowers insurance companies to expand their client base, increase revenue, and better meet the needs of their clients. The platform's AI/ML model speaks the language of insurance, leveraging large language models (LLMs) and web scraping, and is configurable to support existing underwriting workflows.
Target Audience
Confianza targets insurance carriers, agencies, and brokers seeking to improve decision-making, optimize risk selection, and enhance customer acquisition and retention through comprehensive data and advanced analytics.
Features
- Comprehensive national database with 260M+ condensed consumer records and 500+ consumer behavior categories
- AI/ML-powered predictive loss analytics for targeted risk selection, portfolio optimization, fraud detection, and profitability renewal strategy
- Instant Customer360 views of the business, consumer, risk, and exposure
- Business credit and risk scores with predictive Intelli-score
- Crime data that outperforms FBI crime data for loss propensity
- Firmographic/prefill data for application/quote prefill
- Driver safety and motor vehicle violations data
- VIN & registration details
- Targeted marketing lead lists
- Upsell/cross-sell indicators and lead scoring
- Property data including building characteristics, fire protection, and weather perils
- Distance to fire station modeling
- Lessors co-tenancy risk assessment
- Permit activity tracking
- Replacement cost estimator
- Personal lines prefill with credit proxy and financial strength indicators
- Fraud/premium leakage prediction