A Cincinnati startup that mines construction permit data has shifted its business model and changed its name to Datarole. The firm now focuses on selling its data to insurance companies to help their underwriting process.
But after the service was around for a while, Datarole CEO Matt Lenahan and his team of three other people started to get a lot of interest from insurance companies and lenders. They wanted the underlying data. For insurers, they wanted to know how long ago the roof or HVAC system was replaced when they wrote a quote for a homeowners policy. “We had this a-ha moment a year ago,” Lenahan told me. So he and his partners decided to target the insurance business. They launched the concept of Datarole as a provider of data to insurers at an insurance innovation conference in Chicago.