Enhanced Intelligence for
Insurance and Re-Insurance

The right information at the right moment can help you make better and more timely decisions, reduce risks, and provide better customer service

How does one reduce the time it takes to decide on underwriting and premiums? Can technology effectively automate case decisions and gain precious time for more sophisticated contracts and more time for contracts overall? Topic Analyst monitors, identifies, and helps assess risks so insurers can turn data into insight and devote more time to the highest value work.

CID has become a valued strategic partner to our insurance clients because of our powerful software platform – the Topic Analyst Ecosystem – and our ability to understand insurance-specific challenges and requirements. We enable clients to achieve exceptionally high quality in data processing, which is the foundation for process improvements and successful automation.  

As a result, insurance companies and re-insurers gain deep insights from strategic and operational business processes such as product development, emerging risk analysis, competitive intelligence, as well as underwriting, account management, and improved client consulting services.

Emerging Risk Analysis

CID helps insurance companies scan a very broad information landscape to identify, as early as possible, potential threats to clients and the business. Once potential risks are considered relevant, a more focused and detailed monitoring is set up to track developments closely and to evaluate the issues over time.

Topic Analyst continuously and systematically collects information from newspapers, scientific publications, and social media but also websites of governments, international institutions, NGOs, and think tanks in near real-time. It categorizes and pre-analyzes content, and uses algorithms to detect new topics and potential risks.

With interactive dashboards and visualization tools, analysts can efficiently monitor the situation and drill-down on specific aspects quickly in order to make a detailed evaluation.

How Risk Engineers Benefit:

Early awareness of emerging risks.
Ongoing risk assessment based on up-to-date information.
Efficient support of underwriters and product managers by interactive visualizations and dashboards.

Enhanced Risk Management

Underwriters need the widest possible information base when assessing risks related to institutional clients. Topic Analyst can monitor client companies and their enterprise structures including subsidiaries and related businesses using sources such as newspapers, company websites, and corporate reports to help track cases, damages, liabilities, class action suits, and other potential risks.

After an incident, these sources also enable the re-insurance firm to compare what happened and how the client responded to the situation.
In addition, CID scrutinizes company information from public registers and specialized data providers about subsidiaries, management, and even suppliers – in order to track the less obvious, hidden cases including reputational risks for the re-insurer.

CID's semantic Knowledge Base can be configured to tag information along defined risk categories including individual threats which the insurance company uses to assess a business opportunity.

How Underwriters Benefit:

Analysis of client-related events and continuous monitoring of the customer base
Enrichment of existing decision-making processes with focused information
With all information pre-tagged by risk categories, underwriters can quickly access and monitor the most relevant information.

New Business Development

Successful product and business development depends on a thorough analysis of potential markets, risks, challenges, customer bases, and opportunities for insurance and re-insurance companies. Monitoring information sources such as newspapers, scientific journals, social media, industry portals, and corporate websites offers important insights about markets and their challenges, even if there are no official statistics or market reports available, as is the case in some emerging markets.

CID’s Topic Analyst software solution aggregates content from public domain news sources, global broadcasts, patents, subscription content, social media and other sources in multiple languages, to support business development, identify new opportunities, and to provide innovative products and services to clients.

Risk managers rely on near real-time information streams to protect clients with lean production strategies that need to insure against losses caused by interruptions to their supply chain (e.g., fire, natural catastrophes, strikes, political unrest).

Analysts monitor product liability issues that are often the precursor for plaintiffs to organize class action suits. The earlier a potential risk is recognized, the sooner measures can be taken to settle a case or limit damages right from the start.

How Business Development and Product Management Benefit:

Identify future risks and new demands for insurance before your competitors.
Develop insights that inform new product offerings.
Keep ahead of breaking news, see the possible impacts on clients, and provide them with counsel and support pro-actively.