Artificial Intelligence
for insurance companies.

Product managers and underwriters in insurance companies have to regularly check large amounts of text with a high manual effort. A conventional search can only provide limited support here, as each person describes a subject matter in different words. This applies especially to the coverage of major risks, invitations to tender and special agreements or master agreements individually requested by brokers. These must then be checked against internally defined underwriting guidelines and clauses that have already been accepted or rejected.

And this is exactly what we have developed our AI semantha® for: It understands text by its meaning, regardless of the choice of words – this is how you find the content you are looking for, no matter how it is formulated.

With semantha® the search for decisive passages is automated and thus makes the process fast and efficient. In addition, the in-depth specialist knowledge of experienced employees is mapped, secured and thus also made available to new colleagues.

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How our customers from the
insurance industry use semantha®

Risk assessment

With semantha® incoming risks can be automatically checked for defined exclusion criteria and contents relevant to the insurer. The relevant points are displayed to the processor (underwriter) regardless of the wording. Without any time-consuming and recurring searches. As an additional tool, semantha can compare documents with each other to identify differences in documents and thus define additional risk criteria if necessary.

Competition monitoring

For the purpose of observing the competition, semantha® regularly compares the conditions on the market (and of the GDV) with its own orientation and product development. Differences are found quickly and allow conclusions to be drawn about the necessity of market adjustments.

Underwriting

Special large risks must be evaluated individually – underwriters check the risk against already insured risks, internal guidelines and (if insurable) prepare a quotation. Often, special appraisals must also be checked for risk calculation factors.

Broker advertisements

Tenders for individual risks for special customers must be checked by the insurer. Compared to manual processing, this is possible in a fraction of the time with semantha®.

Framework agreements

Brokers write their own terms and conditions and side letters for special products and have them covered by insurers. semantha® shows which points are already present in their own terms and conditions and which risks would be added. In addition, these can then be compared with internal guidelines.

Special agreements

Special agreements are negotiated not only with brokers but also with parent agencies, which must be checked against internal underwriting guidelines and clauses accepted/rejected in the past.

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Vertriebskontakt

An extract from our customers

Im Vergleich zu anderen KIs, ist die CO2-Bilanz von semantha® um ein vielfaches besser.

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