When the Renewal Review capability analyzes the available policies, there are over 100 pieces of data that it can incorporate into its process. This data comes from two main sources: 

1. The account information within the Broker Management System
2. The PDF documents of the policies that are being reviewed 
    

Data Extraction from the Broker Management System

The Renewal Reviews capability extracts the required data from the management system. After the capability extracts the required data from the BMS, it will return to the PDF policies to extract data that will help it fill in any blanks to determine if the information on the policy is relevant. 

Some examples of data coming from the management system are:

• Addresses of locations / number and make & model of vehicle
• Coverages applied
• Rating information
• Limit values
• Deductible values
• Contact information on file
• Driver information
• Claims
• Credit scoring, if applicable
• Age of home or vehicles, if applicable

Data Extraction from PDF Policies

Quandri extracts data using its proprietary NLP (Natural Language Processing) engine. A NLP engine uses processes such as Optical Character Recognition (OCR) and Machine Learning (ML) to enable AI to understand and communicate with the human language. 

Some examples of data coming from the PDF policies are:

• Discounts applied
• Latest updates to building infrastructure. i.e. heating system

Conclusion

The Renewal Reviews capability can leverage its processing systems to automate the data extraction process from both your management systems and PDF policy documents to summarize any policy changes, saving you the manual work.