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Gradient Ventures backs Axle’s ‘Plaid for insurance’ approach to data verification

Gradient Ventures backs Axle’s ‘Plaid for insurance’ approach to data verification

The inability to accurately assess risk for insurance purposes is costing the industry a lot of money. Earlier this year, State Farm reported that its property and casualty underwriting business took a $13 billion hit in 2022 due to “rapidly increasing claims severity and significant additions to prior accident year incurred claims.” Axle is trying…