Power Underwriting with Advanced Artificial Intelligence
A multi-national insurance firm wants to improve their underwriting process with cutting edge technology.
Insurance is driven to get the right rate and to manage risk. In this competitive environment, alleviating areas of manual intervention are critical to separate ourselves from peers in the industry. Large staffs are required to search through, read, organize, analyze and distribute information for underwriting and support purposes. Much of the data is text-centric and unstructured needing manual review. Scaling generally entails hiring more people or outsourcing.
The Lymba Solution
Providing an automated and intelligent way to capture key client profile information from sources. Our automated pipeline reviews data such as positive and negative news searches, source of wealth, recognition, etc. We then transformed this data into a searchable knowledge base.
Input
We provide the system with external sources, which may include search engines, social media websites, and data vendors. We also extract client info from internal document sources.
Output
Lymba’s Underwriting and Support NLP solution streamlines the text-centric bottlenecks by transforming the data into actionable knowledge; this saves time and resources by populating an initial review.