Insurance
We’re entering a new era of data governance. Our Generative AI and SLM-powered solutions enable insurance organizations to dramatically improve policy management, risk assessment, fraud detection and increase overall operations with a focus on customer experience.
Use case:
Insurance firms are continuously producing data in many formats from numerous sources. Processing new policies, evaluating claims and ensuring strong data governance to meet regulatory and data management requirements (such as GDPR in EU and CCPA in the US) is a challenge that is growing.
Diversified Data Types:
- PDFs, CSV, DOC, PNG, MP3, MP4 and more
- Across multiple languages, systems, internal and external
- Unstructured, Semi-Structured and Structured data types
- Legacy data and newly created
From customer service calls to photo images, scanned documents, application forms and more, the raw data types that need data standardization are extremely varied. The challenge is not only extracting information from these data sources but also how this raw data is enriched and relationships built with existing company data that allows the business to determine an applicant's risk profile, the policy premium, terms available, and more.
The Client Challenge: Claims Management
The insurance firm was drowning in data from incoming claims. Although they had data management tools set up to allow for assessing claims, extracting, evaluating, and intelligently inputting data into these systems was heavily manual, time-consuming, and often had inaccuracies that created compliance issues.
Rapid Integration of EmergeGen's SLMs
We utilized advanced techniques such as Generative AI, Small Language Models, Dynamic AI Models and Zero-Shot Learning capabilities, allowing our system to understand and process data with limited to no prior examples and deliver greater accuracy than traditional LLMs.
For this insurance firm, it meant incoming data, whether that be a call, email, PDF or online form, PNG, or MP4 file, could automatically be standardized, enriched with correct categorization, and relationships built with policy information and uploaded into data management tools for instant claims determination.
- Enhanced Claims Management and Data Governance:
- Automated processing and determination for incoming claims
- Removal of heavy manual processing - Deployment of EmergeGen:
Our solution analyzes all types of data at scale and on demand. Data is automatically retrieved, standardized and enriched with rules, asset classes, ID's and intelligence.
The result
The organization can process claims more accurately and efficiently, offering improved customer experience and compliance with regulatory requirements. Beyond this, the firm now has a robust risk feedback mechanism that's automated and feeds into future risk assessment.
The new generation of data management:
We enable more accurate data categorization and richer insights, crucial for effective data driven decision making.
Allowing for rapid deployment and adaptability across various types of data and industries, reducing the need for extensive training data and accelerating time to insight.
EmergeGen seamlessly integrates with all data governance and data management software stacks - serving enriched data onwards without the need for new tools.
Opening up new data sources for analysis, including customer service calls, meetings and presentations, offering a more holistic view of the data landscape.
An accessible and easy to use interface allows for a broader range of stakeholders to leverage data driven insights.
We go beyond processing and organizing unstructured data, enriching and transforming data into actionable insights - driving strategic decision making and opening up competitive advantages.
As your organization grows and data volumes increase, our solution will continue to provide optimal performance without compromising on speed or accuracy.
Additional Use Cases:
We bridge the gap between the raw data your business creates and the intelligent information your data management systems need to enable complete data governance and regulatory compliance.
Data Collection and Processing:
Search and retrieval of information from diverse sources, including policy applications, claims forms, and external data providers.
Data Analysis and Underwriting:
The ability to utilize a wide range of data sets within data management tools to assess risk profiles, analyze demographic data and health records, determine coverage eligibility and premiums, and identify trends in customer behaviour.
Claims Processing and Fraud Detection:
Evaluating claim submissions, verifying policy coverage, and processing payouts based on policy terms and claim validity whilst assessing for suspicious patterns or anomalies that may indicate fraudulent behavior.
Customer Relationship Management (CRM):
Leveraging customer data to enhance engagement, personalize offerings, and improve retention.
Regulatory Compliance:
Ensuring adherence to industry regulations and data protection laws by managing data securely and maintaining compliance standards.
EmergeGen - our key differentiators
EmergeGen’s advanced AI capabilities, seamless data governance integration, adaptability, comprehensive data processing (including audio), and user-friendly design elevate it from its competitors, as seen below.
We’re Collibra’s Data Integration Partner
Collibra is one of the world's leading data intelligence platforms. They’ve partnered with EmergeGen to support Collibra users in preparing unstructured data for use within their platform.
Unleash the power of your data: rapidly standardize, categorize and enrich all data and serve it into your data intelligence platforms to enable analysis at scale - gain market advantage, drive customer experience and improve business compliance.