Major Swiss Insurance Company

Systemic fix for inconsistencies between master and local policies that could lead to unintended coverage limits and substantial financial liability

Challenge

• Risk Exposure: Misaligned policy wordings across global subsidiaries created unidentified liability exposure, threatening the company’s loss ratio targets
• Policy administration systems lacked multilingual and multi format semantic analysis capabilities
• Variations in policy wording across jurisdictions raised concerns about meeting local regulatory requirements while maintaining global standards.

Solution

• Implemented an enterprise-grade GenAI solution that performs semantic analysis across policy documents in multiple languages
• Developed a AI NLP pipeline specifically calibrated for multi format documents and insurance terminology across jurisdictions
• Created API integrations with existing policy administration systems
• Built a dashboard showing portfolio-wide compliance status red flagging interventions

Business Impact

• Identified and eliminated additional risk totalling almost $70 million in the worst-case-risk-amount
• Enhanced transparency: provided underwriters with a comprehensive view of coverage across jurisdictions, ensuring consistent, clear, and reliable service to global clients.
• Technology-driven efficiency: reduced policy comparison time, allowing underwriters to increase capacity without additional headcount