X1 Analytics®’s Post

Interpretive use cases are revolutionizing IDP. They're shifting traditional rule-based systems to a new paradigm, transforming how we handle tasks like summarization and creating dynamic tables of contents. This is a game-changer for insurers. #InsuranceIntake #AutomatedInsurance #IntelligentDocumentProcessing

Some of what passes for "AI" is really just good data science. Policyholder compression is typically viewed as a data science problem, so actuarial practitioners often revert to their #datascience comfort zone, and apply clustering (or heuristic groupings) based on policyholder characteristics. But as our results at Stoch Analytics make clear, it's possible to to a lot better. Our Compression approach is more #AI-like: Use a training dataset to establish the pattern, and then apply the results to the next problem. When I first used this approach 20 years ago, it compressed a set of a million records down to a thousand and blew me away. Stoch Analytics developed the same approach independently -- and having battle-tested it over the years with a diverse range of products, blocks of business, and use cases, today offers an industrial-grade tool suitable for enterprise use. Industry surveys show that insurers who use other clustering algorithms get compression ratios of 6:1 on average, with "good" ratios of maybe 15:1. With our iReplicate Compression tool, our clients achieve ratios of at least 100:1, and often 200:1 or 400:1. And while clustering methods begin to break down within just a few timesteps into the projection, our training set approach holds up with fidelity well into the projection horizon. This isn't just of academic interest to me a practitioner. As our clients know, this translates to more business insights and -- in an age where fewer compute cycles translates to lower cloud spend -- dramatically lower costs. I'd love to share the benefits. Please feel free to reach out to talk about how to achieve similar results.

InsureTech engines like Charlee.ai are helping insurance carriers make sense of vast amounts of information, simplify and streamline claims management based on risks, reduce insurers' administrative burden, and help close claims quickly without attorney intervention. AI-driven insights help make sense of structured and unstructured data, increase collaborations with third-party administrators, and speed up claims resolution, all while lending insights often missed throughout the claim's lifecycle #InsureTech #Structured #Data #Insights #CharleeAi

The digital Underwriting Workbench enables insurers to make strides in: ⏰ Efficiency 🎯 Accuracy 💡 Innovation Here are 3 insurers’ stories of triumph with the Underwriting Workbench. Learn how they ensured data quality transformation, reduced underwriting complexity and enhanced usability, accuracy, and efficiency: https://lnkd.in/et7xvtW4 #DigitalTransformation #CommercialLineInsurers #PersonalLineInsurers #Underwriters #UnderwritingWorkbench

Our core underwriting engine is a state-of-the-art, rules-based, expert system that delivers insurance quotes based on data about a risk. Here are the benefits: 1. Decoupling the underwriting engine from the front end interactions enables more flexibility and freedom in the User Experience. 2. You can update rules without having to go through any development bottlenecks. 3. Rules are precompiled and loaded into memory for performance and efficiency. 4. Prior to underwriting, the data can be enriched with other data from 3rd party systems. Read more: https://heyor.ca/kJ3SNt #UnderwritingEngine #InsuranceQuotes #UserExperience #HouseOfInsurtech

Will we ever achieve underwriting 'nirvana'? Despite the wealth of data available, many insurers struggle with a disconnect between transactional and portfolio-level insights. This missing link between the two states means that true portfolio optimisation is merely a dream for some. But will it always be this way? Our latest blog from William Harnett explores how innovative tools and technologies can bridge this gap, enabling CUOs to make swift, informed decisions. Discover how today's underwriting workbenches can bring rich data into one place, fostering real-time strategy adjustments and seamless communication across teams. Read here: https://lnkd.in/eXz7Eej3 #Underwriting #InsurTech #DataDriven

Will we ever achieve underwriting 'nirvana'? Despite the wealth of data available, many insurers struggle with a disconnect between transactional and portfolio-level insights. This missing link between the two states means that true portfolio optimisation is merely a dream for some. But will it always be this way? Our latest blog from William Harnett explores how innovative tools and technologies can bridge this gap, enabling CUOs to make swift, informed decisions. Discover how today's underwriting workbenches can bring rich data into one place, fostering real-time strategy adjustments and seamless communication across teams. https://lnkd.in/eXz7Eej3 #Underwriting #InsurTech #DataDriven

Unlock the Full Picture with Opportunity Search & Filter! Smarter decisions start here. Quickly explore and narrow down opportunities for a 360° view of any customer or plant in seconds. Simplify your process and take control of your data like never before. Try C60 Risk-Free Today! https://lnkd.in/er33FQqb #C60 #NewFeature #DataAnalytics #ConcreteIndustry #ReadyMix #Efficiency #BusinessGrowth #TryC60 #RiskFreeTrial

How long does it take your team to complete statutory reports? Imagine cutting that time in half. With Cygnus and Jedox, you can centralise data and automate tasks to accelerate your financial close. No more worrying about manual errors or fragmented workflows—just precision and clarity. Bring confidence back to your reporting process, book your demo with us today. #StatutoryReporting #FinancialClose #Jedox #FinanceAutomation

Time is money in the financial industry. Discover how Scan2x empowers every user, from intelligent document recognition to digital signing. 📈 Stay ahead in the fast-paced world of finance. Dive into the details: https://lnkd.in/dSnxtu4P #automation#documentprocessing #Efficiency #information