Underwriting is a fundamental function within the insurance industry, serving as the foundation for risk assessment and management. Underwriters are responsible for evaluating insurance applications, determining the level of risk associated with each applicant, and making decisions on whether to accept or reject the application based on the insurer’s guidelines and risk appetite.
I invite you to check out a blog post myself along with my colleagues at AWS has published discussing how to use AWS generative artificial intelligence (AI) solutions like Amazon Bedrock to improve the underwriting process, including rule validation, underwriting guidelines adherence, and decision justification. While this particular post discusses a solution relative to insurance and banking industry, Amazon Bedrock and AWS Step Functions are great services to experiment across various industries and use cases so I invite you to test out in whatever endeavor you have! A GitHub repo with accompanying CDK deployment code is also attached so you can try out this solution. Enjoy!
I work for AWS but all of the opinions, ideas and solution implementations in my blogs are purely of my own.
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October 31, 2024
