Problem

• Insurance policies are complex and difficult to understand and interpret.
• Both enterprises and individuals do not realize coverage inadequacies and gaps in their policies until it is too late and uncovered losses are incurred.
• Insurance companies and agents struggle to engage the average consumer and educate them on their protection needs.

Solution

• AI/ML platforms can be trained to understand insurance policies and extract relevant information from unstructured policies, quickly identifyingcoverage gaps, limits, endorsements, and exclusions.
• 3rd party data sources on risk exposures are growing and becoming widely available. Coverage gaps are identified based on what is required vs what is covered.