NEW ORLEANS, March 16, 2023 (GLOBE NEWSWIRE) — Percipience, an insurtech data and analytics software provider, is pleased to announce Buckle, the financial services company providing auto insurance solutions for the gig economy, is implementing the company’s core system-agnostic data and analytics platform, Data Magnifier.
Acknowledging that insurance has traditionally been a data-driven industry, Buckle is taking the term to a whole new level. Buckle’s gig auto insurance for rideshare and delivery drivers relies on transportation and delivery network company data for highly accurate policy underwriting. By using rideshare and delivery data from platforms used by companies like Uber, Lyft, and DoorDash, Buckle eliminates the traditional data gaps that leave mobile gig workers, in particular, underinsured or paying higher premiums.
“First and foremost, Buckle is an insurance company, so it made sense to invest in industry standard solutions for things like underwriting, core administration, and distribution channel management, but many aspects of our business and products are unique and evolving and not actively supported by standard insurance applications,” said Adam Landau, CIO for Buckle. “The ability to quickly and easily implement and extend Data Magnifier to support our innovations was key to us choosing Percipience.”
Percipience’s Data Magnifier is a platform independent data and analytics solution which allows insurance companies, like Buckle, to leverage existing technology and systems investments instead of engaging in an expensive rip-and-replace initiative to deliver needed, relevant data insights to underwriters, actuaries, CXO, and operations leaders. With Data Magnifier’s coverage of more than thirty property and casualty (P&C) lines of business (LOBs), more than 95 percent of the attributes needed by Buckle were already included out of the box.
Buckle is leveraging existing investments in Amazon Web Services (AWS), Snowflake, Informatica, and Microsoft Power BI which allows the use of internal staff and resources already experienced with the platform to complete much of the implementation, further reducing the total cost of ownership (TCO) below any other data solution the company considered. Buckle was Data Magnifier’s first implementation on AWS and Snowflake, with Percipience delivering the migrated Data Magnifier solution in just four days. Further, Data Magnifier’s integration accelerators allowed mappings for four policy and claims applications to be completed within three months.
“Buckle has selected specific areas where they wanted support from Percipience and are taking advantage of the documentation and intuitive nature of Data Magnifier to own and control the implementation themselves,” said Bruce F. Broussard Jr., managing partner at Percipience. “Buckle is a great partner for Percipience, allowing us to further demonstrate Data Magnifier’s platform portability and the power of our integration assets across multiple different data sources. As an innovator, Buckle is well positioned to leverage Data Magnifier to drive their continued growth, and we’re very excited to have them as a partner.”
Percipience is an insurtech data and analytics software provider, whose core-system agnostic Data Magnifier platform quickly transforms siloed data from multiple sources into a competitive advantage. Data Magnifier’s comprehensive integration, data management, and reporting components can be deployed on any cloud platform and database. Delivered with the detailed documentation of an in-house developed application, Data Magnifier gives insurers full control of how the solution is managed and empowers insurers to own their data. For more information, please visit www.percipience.com.
Buckle is the digital financial services company providing insurance for the gig industry. Serving the vital, rising middle class, Buckle protects drivers across personal, rideshare, and delivery driving for leading companies including Uber, Lyft, DoorDash, Gopuff, Instacart, Amazon Flex, Uber Eats, Grubhub, Favor, Shipt, and more. The company also offers insurance solutions for select partners. Buckle has received awards for 2022 including Best of Insurance, a Fastest Growing Company, Best Tech Startup, InsurTech 50, and more. Connect with us on Facebook, Twitter, LinkedIn, and www.buckleup.com.
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