Next generation´s insurance company
| Reference number | |
| Coordinator | Hedvig AB |
| Funding from Vinnova | SEK 300 000 |
| Project duration | December 2017 - July 2018 |
| Status | Completed |
| Venture | Innovative Startups |
Purpose and goal
The overall aim for the project has been to create an automated (AI-based) system for insurance claims management. During the project three distinct areas have been identified as critical in achieving this goal and has been the focus for delivery: 1) Dynamic pricing of insurance risk 2) Named entity recognition for the Swedish lanague 3) Automatic FAQ for the home insurance domain
Expected results and effects
The project has led to a number of analytical models which has been implemented in Hedvig’s cloud based insurance system. Data structures and infrastructure has been developed in order to continuously update the statistical models as well as the datasets used to train and evaluate them. The project has also led to an increased focus on R&D within and outside the company resulting in a number of collaborations
Planned approach and implementation
The project started out with an analysis phase including a market overview of existing solutions and research activities in the area. This resulted in the selection of three key areas which has been the focus for the remaining project. Each subproject started out with a data collection phase where existing benchmark datasets was identified, and new ones created to cater to our specific insurance domain. During implementation the respective project evaluated a number of hypothesis regarding suitable models. Finally the commercial potential in the solutions was evaluated