In insurance claims processing, everything starts with the description of what happened and the description starts with the claim report. The heart of a claim report resides in the descriptive text that outlines what the claim is all about. Policy holders, third party experts, witnesses and customer service representatives typically create this text and often write it in short-hand.

For years insurance companies have attempted to organize claim descriptions by manually reading and coding the free text descriptions found in claim forms. Now, Attensity's Claims Analytics solution enables insurance companies to understand what is in the claim text and other supporting claims documentation including police reports, medical reports, inspection documents and public records. Our Text Analytics solution takes the unstructured data in these documents, organizes it and then provides discovery and analytic applications that enables analysts and adjusters to identify trends, issues and potential problems.

• Patented Extraction Engines extract facts from claim reports, insurance applications, and supporting documentation to provide the who, what, where, when, why and how
• Discovery applications enable analysts to dig through newly structured text to find issues without having to define them prior to discovery
• Analytic applications look across reports to uncover trends and issues
• Integration infrastructure and a software development kit (SDK) provides integration to existing analytic and actuarial systems and models to augment existing structured data analysis with insights from unstructured data

• Detect fraudulent activity in claims early, before it becomes an expensive issue
• Improve underwriting profitability by feeding claims processing information into the approval, exclusion and premium development processes
• Improve efficiency around claims processing and research