Use case.
Portfolio Analytics.
The intricacy of insurance underwriting requires a comprehensive understanding of various risk factors. Portfolio Analytics provides a robust platform to assess insurance portfolios, giving insurers the ability to analyze risk with precision. By leveraging this tool, insurers can identify risk exclusions, sublimits, and tier definitions, enabling a thorough examination of underwritten insurances.
Contract 1
Does the contract contain a risk exclusion for war?
Yes
What is the sublimit for miscellaneous unnamed locations?
500.000€
Document 2
Does the contract contain a risk exclusion for war?
Yes
What is the sublimit for miscellaneous unnamed locations?
500.000€
Count categories
Get deep insights into your portfolio
Your benefits.
See what's in it for you.
Detailed risk assessment of insurance contracts
Enhanced decision-making for underwriting processes
Data-driven portfolio management for optimized risk distribution
What you previously had to do.
Manual aggregation and analysis of insurance contracts to assess risk and coverage specifics.
In-depth studies and comparisons needed to understand sublimits and exclusions across different contracts.
Time-consuming process to define and categorize risks into tiers manually.
Regularly updating and maintaining records to keep track of changing terms and conditions within the portfolio.
What this task now looks like.
Automated analytics to swiftly evaluate insurance contracts and highlight key risk factors.
Immediate insight into complex contract terms like sublimits and exclusions without manual effort.
Automated tier classification to streamline the understanding of risk levels within the portfolio.
Dynamic updating and tracking of contract terms to ensure real-time accuracy in risk assessment.
You can choose from various LLMs.
For this use case, we recommend Azure GPT-3.5.
The intricacy of insurance underwriting requires a comprehensive understanding of various risk factors. Portfolio Analytics provides a robust platform to assess insurance portfolios, giving insurers the ability to analyze risk with precision. By leveraging this tool, insurers can identify risk exclusions, sublimits, and tier definitions, enabling a thorough examination of underwritten insurances.
Train from different data sources.
Data examples.
You can train your Generative AI assistant from different data sources. Here are some examples.
Slips
A slip is a document used by a broker to set out details of a risk. If an underwriter agrees to accept the risk, or part of it, the slip is stamped, initialed and scratched by the underwriter or insurer with the proportion of the risk written.
This might also be relevant for you.
Further resources
We have collected a list of resources that might be helpful for you to learn more about this use case.
Pioneering Innovation: How GenAI is disrupting Finance & Banking - with free ebook download
An actionable guide to the diverse elements of Generative AI in Finance and Banking that are changing the landscape of productivity, customer experience, and the way the industry operates.
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GenAI in Finance and Banking Webinar
Discover the transformative power of Generative AI in finance and banking through our webinar. It covers GenAI's applications, underlying technology, development strategies, and safety practices, targeting professionals and developers in Finance, Banking, and FinTech.
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