Lymba for Insurance

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Insurance is driven to get the right rate and to manage the costs under it. 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.  

The problem is much this data is text-centric, which means it is unstructured data. Unstructured data cannot be readily understood without manual intervention and that kind of process is not sufficient in an automated industry. 

 Underwriting 

Underwriting requires making an assessment of riskiness based on data that is often not easily accessible. Applications capture many of the essentials, but more information is needed to understand an individual’s risk.  

Lymba provides an atomated and intelligent way to capture key client profile information from external sources, which may include search engines, social media websites, and data vendors.  

Lymba processes data like positive and negative news searches, sources of wealth, recognition, etc. and transforms it into a searchable database.  

Data Unification 

Fragmented data can be better utilized when sourced into one, central view. The process of data unification occurs with the K-Extractor, or Knowledge Extractor. Through one pipeline, data from various databases, regardless of format, can be unified in a graph store and combined with other structured data. 

Text Classification for Support 

Text classification is a semantic tool found on the K-Extractor pipeline. This is the classification of natural language text into predefined categories. In this step of knowledge extraction, key aspects of the text are tagged and identified so support questions and emails can be distributed and esolved. Deep learning techniques and semantic features allow for accurate data extraction. 

 In insurance, next generation automation can be achieved through semantic tools. Lymba can make data sources not only united but searchable. Lymba’s underwriting and support NLP solutions streamline your text-centric bottlenecks by transforming the data into actionable knowledge.