Assessing the value of a property right before underwriting is critical and time-consuming especially in High Net Worth cases. The process is riddled with inherent challenges as it is expensive to send an appraiser to every property and a manual appraisal is slow and incomplete while the appraisal results vary widely. There is hence a high likelihood that the current method of appraising properties for underwriting is inconsistent and not cost-effective. All this eventually results in longer time to convert a prospect into new business, potential underwriting losses and unhappy customers. Our intelligent solution powered by AI greatly improves inspection and appraisal accuracy and greatly enhances the underwriting decision-making capability.
The proposed cognitive solution uses image based data analytics along with machine learning to study data to stud