Identify Coverage Gaps in Insurance Policies
The Problem
- Insurance policies are complex, difficult to understand and interpret.
- People/Enterprises do not realize coverage inadequacies, gaps in their policies until its too late.
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Insurance companies and agents struggle to engage average Insurance consumer and educate them on their protection needs.
Solution
- AI/ML platforms can be trained to understand the Insurance policies and extract relevant information from unstructured policies ( Coverage gaps, Limits, Endorsements, Exclusions).
- 3rd party data sources on Risk exposures are growing and available.
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Coverage gaps are identified based on what you should have vs what you have?