Case Study
PDF: Crunching Data from a Million Policies: ML Modeling for Better, Faster, Cheaper Underwriting
An SS&C Intelligent Automation Solutions Case Study Crunching data from a million policies: ML modeling for better, faster, cheaper underwriting Modern life insurers need historical data to refine underwriting models, develop new fluidless ones and expand their predictive analytics capabilities. The problem with historical data at scale is that it’s often locked in old, paper-based life insurance applications that are predominantly handwritten and are of low image quality. Client challenge A Top 5 U.S.-based life insurer wanted to develop a fluidless underwriting model, but the data needed was locked in over a million life insurance policies going back 40 years. The 1,000,000 policies made up more than 56,000,000 pages and over 140,000,000 data fields. Solution SS&C Chorus r