Our client is a leading US-based provider of insurance and financial services products including life insurance, retirement plans, and mutual funds.
The underwriting team had a significant volume of informal underwriting inquiries via APS records. The client wanted to automate the process of analyzing unstructured APS records to enable straight-through processing for quote generation.
- Attending physician statements are unstructured and difficult to process manually.
- Reconciling and deriving KPIs definition from the APS records needed significant domain inputs from medical directors as well as detailed understanding of the underwriting process
- To confirm to audit standards, white box interpretable models were needed for predicting risk classes