“You check masses of text documents like broker wordings,
framework contracts and special agreements?”
“Different wordings make automation impossible?”
Product managers and underwriters have to check large amounts of text on a regular basis with a high manual effort. Special broker wordings in particular contain many special agreements and are usually formulated quite individually. New incoming documents have to be checked in detail for undesirable risks under high time pressure, and in the case of new specifications by reinsurers, entire portfolios are analyzed for specific contents and exclusions in order to avoid undesirable major losses.
And this is exactly where our AI semantha® can help: It understands text based on meaning, regardless of word choice – so you can find content you’re looking for, no matter how it’s worded – out of the box and without extensive training with your data.
With semantha® you save 45% of the time when checking risks according to our experience so far. Prospective customers thus receive their offers very quickly and your experts can concentrate on value-adding activities, such as winning new customers through individual concepts.
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Minimize risk
The high time pressure in manual processing increases the susceptibility to errors. If a risk is overlooked, this can lead to considerable damage costs. -
Increase efficiency
Conditions no longer have to be checked or compared individually and manually – this saves time. This way, major customers and brokers are quickly presented with a suitable solution and you remain competitive. -
Setting quality standards
A common, uniform knowledge base ensures equal treatment of inquiries in the long term. Thus, the high requirements of authorities such as the BaFin can be fulfilled.
