The commercial insurance industry is facing growing challenges such as cost pressures, premium pressures, risk selection and providing a better customer experience.
And all of these challenges have one thing in common – data.
A key role for data and actuarial teams in insurance companies is knowing which data is critical and needs to be clean, which is an evolving journey.
In commercial insurance, the risks are complex and hence there’s an abundance of rich, unstructured data in key documents such as proposal forms, quotes, binders, slips, policies, endorsements, loss reports and inspection reports. This data is used in many scenarios by brokers, insurers, and reinsurers.
Cognitive Machine Reading classifies, extracts and digitises all your data for:
- Policy review, indexing and extraction
- Submission processing and prioritization
- Inspections and loss reports
- Member enrolment
- Medical invoices and much more
Discover how the race for data is one commercial insurance organisations can win today.
Get your copy of The Race for Data eBook today.