Goal
Extract key elements from all variations of Loss Run Reports
Challenge
Loss run reports are generated by insurance companies to show claims activity (business name, reason for the claim, type of claim, etc.)
Insurers evaluate loss run reports to identify the level of risk
associated with the client. It is a critical and data intensive element of underwriting that requires processing 15+ document variations.
Outcome
Built Al model to extract key values (loss description, policy ID,
total reserves, total expenses, etc.) within days
Exceeded customer expectations and provided a more thorough
and clear understanding of potential underwriting risk.