9 slides from Cognizant Technology Solutions's technical presentation, Nov 27, 2024
Slide 1: Elevate UW guideline adherence and determine policy precedence to accelerate decisions
Elevate UW guideline adherence and determine policy precedence to accelerate decisions © 2024 Cognizant | Private
Slide 2: Executive summary
Executive summary Problem statement Solution developed Technology used • Evaluating unique and unstructured risk across • Automating Data Extraction from insurance • Generative AI - Amazon Bedrock Life and P&C applications, documents, and other sources, reducing the manual effort required • Large La
Slide 3: Insurance underwriting challenges
Insurance underwriting challenges Time consuming and manual process: Rule validation: Time-consuming and error-prone manual Challenges in verifying that information provided extraction of relevant information from adheres to the insurer's complex underwriting a wide range of applicant documents guid
Slide 4: Day-in-the-life of an Insurance Underwriter
Day-in-the-life of an Insurance Underwriter John Doe is an Insurance 10 years of underwriting expertise Underwriter for all policy seekers including Relies on data for decisions higher-risk individuals Needs to account for all the changes that are continuously happening across different states in: u
Slide 5: A solution for streamlining insurance underwriting
A solution for streamlining insurance underwriting • Users upload an image of a driver’s license record to an Amazon Simple Storage Service (Amazon S3) bucket. The bucket is configured to send event notifications to Amazon EventBridge. • An EventBridge rule is configured to start an AWS Step Functio
Slide 6: How you can build it with Amazon Bedrock
How you can build it with Amazon Bedrock Leveraging generative AI for 1 Automating data extraction: 2 Insurance Underwriting: Apply generative AI techniques to extract relevant Utilize the capabilities of generative AI models to information from a wide range of applicant automate and streamline vari
Slide 7: Business value
Improved customer experience X Factor • The personalized policy recommendations and faster underwriting turnaround times enabled by generative AI can provide a more Business value tailored and efficient experience for insurance customers. • Higher customer satisfaction, retention, and more business
Slide 8: Technical value
Scalability and performance X Factor • Provides the necessary scale and performance to handle the demands of insurance underwriting workflows, which may Technical value involve processing large volumes of data and generating personalized outputs. Managed service for LLMs Seamless integration • Fully
Slide 9: Thank you
Thank you Presenter’s name will go here Contact information will go here 9 © 2024 Cognizant | Private