Semantify creates dynamic dashboards using prebuilt ontologies for Life and P&C to address these key challenges. Its partner eco-system leverages IoT data, transforming it into meaningful information for underwriting and claims. Implementing data sourcing typically involves centralizing data, massaging data, and preparing for analytics. With out-of-the-box connectors for standard industry data sources and structures, Semantify instead connects directly into the primary data source, leaving data where it is. It effectively normalizes data across the platform during the search function using the concepts of synonyms and entity variations. “The implementation time for any data program decreases to 4-6 months as against Industry benchmarks of 12 to 18 months. ROI goes up substantially, and almost immediately,” adds Himatsinghani.
Unlike its competitors, Semantify concurrently searches all data types— structured, semi-structured, and unstructured—for discovery and analysis. Partnering with a leading claims management company, Semantify has worked toward meta-tagging Adjuster Notes and Call Center notes, converting widely distributed data into a structured index by applying one of the 14 Semantify’s patented automatic Semantification modules.
The immense grunt work for data experts in pulling up data is fully automated by Semantify, freeing up their valuable bandwidth for critical analysis
Being subject matter experts and suppliers for large global banks and financial companies, tier 2 and tier 3 firms have also started adopting Semantify’s solution, driven by the low investment costs. Productivity benefits from just automating the grunt work of pulling information from the enterprise data universe are significant and immediate. Agile deployments and integrations coupled with comprehensive self service capability, maintain and enhance the application significantly, reducing usage and maintenance costs. “When every other tool uses statistical ranking and appliance power, we are using industry domain knowledge,” says Dutt. “We enable enterprises to empower everyone, from call center representatives to the CEO, with the ability to perform their own discovery and analysis to respond faster to customers, regulators and business opportunities,” concludes the CEO.