Applied Artificial Intelligence
The expansion of the digital universe has been one of the most fundamental changes to how we communicate with each other in the modern society.
Social media is now as one of the top sources of business insight used by financial firms to stay competitive. Natural Language Processing (NLP) has the potential to be widely applied in the finance and insurance industry in areas, such as fraud detection, claim management, and legal case analysis. NLP can turn unstructured text data into useful features that can be analyzed by actuaries, quants, and data scientists.
Foot traffic data is captured by various sources, such as smartphone APP, telematics devices in the vehicle, which can help insurance companies monitor policy holders’ behavior. It is beneficial for insurance companies to price the risk accurately and accelerate the underwriting process. On the other hand, policyholders are given incentives for good driving behavior. There are various state-of-art techniques to extract useful information from the foot traffic data, including spatial and temporal analysis, and geospatial analysis.
These state-of-art techniques can unleash Fin/InsurTech innovations and transform the finance and insurance industry. Our research team collaborates with Fin/InsurTech firms and the National Center for Supercomputing Applications to push boundaries and deliver breakthrough solutions for Fin/InsurTech innovations.