Insurance – Improved Decision Making & Enhanced Insights

ProblemSolutionBenefits
An insurance company needing to improve decision making capabilities and underwriting and claims efficiency struggled with disparate datasets and manual document review processes.Connecting Frisk to its datasets resulted in a unified index which enables global searches and global insights. Our Intuitive UI enabled underwriters and claims officers to rapidly review cases and identify key data and trends instantly.
  • Improved pricing decisions by reviewing loss experience at a more granular level, involving insights from forms and emails.
  • Improved efficiencies by speeding up document review processes.
  • Improving customer
    experience via improved
    turnaround times.

Problem:

An insurance company wanting to deepen access into application and claims data in order to improve underwriting and claims management efficiency and effectiveness was struggling due to data being held across different systems and much of it in an unstructured format, requiring manual intervention. Significant inefficiencies in the claims and underwriting process could be eliminated through an enhanced document identification and review process.

Solution:

Frisk developed a process that would enable information held in different systems and in supporting documents to be analysed and then utilised for making better, more informed decisions and to improve productivity and customer service.

  1. Creation of the Unified Index: Utilising Flexible Connectors the Frisk appliance is connected to the source systems enabling the creation of the Unified Index.
  2. Configure & Index: Documents that are not text searchable are put through the Frisk OCR process. Given the large volume, the Frisk streaming process enables the optimal use of available computer capacity to reduce the OCR processing time required. Simultaneously the indexing of every word in every document commences.
  3. Content Analysis: The Term Frequency Report is utilised to identify reference terms across documents that would be useful as key filter points.
  4. Cross Reference Data Sources: A variety of data sources would be identified as additional points of reference. Further analysis utilising the Bulk Query capability would enable the referencing of data sources such as the list of occupations, medical conditions or document type in order to extract initial insights.
  5. Configuration of the Intuitive UI: Based on the insights gained, an initial set of filters would be established to enable searching across areas such as occupation, medical condition and document type i.e. PMAR
  6. Refinement Analysis: The Flexible API is then used to connect to existing analytics and analysis tools to support detailed analysis by specialist areas such as actuaries or the claims management systems for improved case management in claims.
  7. Insight Delivery:  The Intuitive UI is then released to all front-line staff to support improved customer service and enhanced insights. The self-serve nature of the UI means groups as diverse as Claims Officers, Actuaries and Underwriters are all able to aggregate information and gain insights as required.
StageProcessFrisk Capability
Creation of the Unified Index
  1. The Frisk appliance is connected to the source systems enabling the creation of the Unified Index

  • Flexible Connectors
  • Unified Index
Configure & Index
  1. Documents that are not text searchable are put through the Frisk OCR process.
  2. Given the large volume, the Frisk streaming process enables the optimal use of available computer capacity to reduce the OCR processing time required.
  3. Simultaneously the indexing of every word in every document commences.
  • Rapid OCR
  • Streaming
Content Analysis
  1. An initial review of key reference terms found in the documents is used to determine initial filter options.
  • Term Frequency Report
Cross Reference Data Sources
  1. A variety of data sources are identified as additional points of reference.
  2. Referencing of data sources such as the list of
    occupations, medical conditions or document type is used to extract initial insights.
  • Bulk Query tool
  • Export to Report
Configuration of the Intuitive UI

  1. Based on the insights gained, an initial set of
    filters are established to enable searching across areas such as Occupation, Medical condition and document type i.e. PMAR.

  • Intuitive UI
Refinement Analysis
  1. Existing analytics and analysis tools are used support detailed analysis by specialist areas such as actuaries or the claims management systems for improved case management in Claims
  • Flexible API
Insights Delivery

  1. Frisk is then released to all front-line staff to support improved customer service and enhanced insights. The self-serve nature of the UI means groups as diverse as Claims Officers, Actuaries and Underwriters are all able to aggregate information and gain insights as required.

  • Intuitive UI
  • Export to Report

Contact Us

insurance-improved-decision-making-enhanced-insights

180 Flinders St ADELAIDE SA 5000
PO Box 879, UNLEY BC SA 5061

Phone: 1300 43 33 11
Email: mail@frisk.com.au

180 Flinders St ADELAIDE SA 5000
PO Box 879, UNLEY BC SA 5061

p: 1300 43 33 11
e: mail@frisk.com.au

Enquiry

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