Automated underwriting insurtech Juniper Labs today announced that it is launching the first ever open-sourced data set purpose built for commercial insurance. Juniper Labs plans to release over 40 million business records it acquired to train its underwriting models for anyone to use.
SUNNYVALE, Calif. /Mortgage and Finance News/ — Automated underwriting insurtech Juniper Labs today announced that it is launching the first ever open-sourced data set purpose built for commercial insurance. Juniper Labs plans to release over 40 million business records it acquired to train its underwriting models for anyone to use.
“We are open-sourcing our data because we believe data is not a product. Data is a platform. We are setting out to dramatically change the way the industry views data – we believe the future of insurance is open,” said Lance Poole, Juniper Labs CEO. “The thing that excites us about the philosophy of open-source, is that it allows for solutions to emerge that we couldn’t have never created on our own.”
Juniper Labs will give the carrier partners of Plug and Play the first opportunity to use the open dataset. “As we’ve had the privilege of being a part of Plug and Play, we’ve been in a position to see how forward-thinking the partners of Plug and Play are. Because of that, we want to invite the Plug and Play partners to be the anchor members of this open data community” said John Stevenson, Juniper Labs CTO.
By moving to an open source platform, Juniper Labs follows in the footsteps of other tech companies like Databricks, GitLab, MongoDB and Docker. Mr. Poole went further to state, “We believe that data in insurance has to be open. We want to establish a data protocol and if everyone is building their own walled gardens, that will never happen. We take a lot of inspiration from the world wide web. Tim Berners-Lee knew that the web would have never gotten critical mass if it wouldn’t have been open. We can’t own the data. We can only work with the community to be stewards of the data.”
Carriers and executives interested in Juniper Lab’s open data project are invited to sign up at openjuniper.com
About Juniper Labs:
Founded in 2019, Juniper Labs builds automated underwriting solutions for commercial insurance carriers. They have a suite of APIs that automate the application process and the challenge of properly classifying businesses. They are stewards of OpenJuniper, the first ever open dataset purpose built for commercial insurance.
*PHOTO link for media: https://www.Send2Press.com/300dpi/19-1209s2p-lance-poole-300dpi.jpg
*Photo caption: Lance Poole, CEO of Juniper Labs.
Learn More: https://www.juniperlabs.io
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