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Artificial Intelligence
for insurance companies.

Product managers and underwriters in insurance companies have to check large amounts of text with a high manual effort. A regular search engine 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. All of them have to be checked against internally defined underwriting guidelines and clauses that have already been accepted or rejected.

And this is why we have developed our AI semantha®: She understands text on the basis of meaning, regardless the wording – this is how you find the content you are looking for, no matter how it is phrased.

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 in the
insurance industry use semantha®…

Risk assessment

With semantha® incoming risks can be automatically checked for defined “no go’s” and contents relevant to the insurer. semantha® displays the relevant topics to the underwriter – regardless of the wording –without any time-consuming and recurring searches. As an add on, semantha® can compare documents with each other to identify differences in documents and thus define additional risk criteria for the future if necessary.

Competition analysis

For the purpose of observing the competition, semantha® is able to compare the conditions on the market for your optimum product development. Differences can be 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 risks against already insured risks and internal guidelines to prepare a offer (if insurable).

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 & conditions and which risks would be added. In addition, these can then be compared with internal guidelines.

An extract from our customers

Customers

We have written extraordinary success stories with some of our clients. You can read them here: Success stories.