05 Sep YUKKALab @ DIA: Why Underwriters love our AI analytics tools
Following this years DIA Event, the founders of the DIA Community, Roger Peverelli and Reggy de Feniks, take a deeper look at YUKKALAB and how underwriters can assess risks and profit from AI driven news analytics by harnessing the power of real-time data alongside historical information.
The Challenge: Vast amounts of unstructured data
The challenge lies in managing the vast amounts of unstructured data from various sources to make informed decisions.
YUKKA Lab provides a data-driven approach to news analysis by continuously indexing the media landscape in real-time, processing over 700,000 daily news articles from 150,000 licensed and public sources.
We translate this information into scores and signals for advanced risk assessment, ESG evaluation, sales strategies, and investment management.
Our unique scoring engine mimics human reading and assessment of news, enabling insurers to save time and enhance decision-making by transforming complex news data into actionable insights.
YUKKA Lab’s solution acts like a personal assistant, constantly monitoring news in multiple languages and creating data-driven summaries.
This process helps underwriters identify and prioritize risk exposures, converting unstructured data into measurable data points.
The Solution: Transforming complex data into actionable insights
This approach also eliminates biases and random filtering, ensuring that underwriters focus on the most relevant topics and capture all essential information.
Insurers need comprehensive data
To address specific issues such as sustainability and creditworthiness, insurers need comprehensive data on their suppliers, counterparties, clients, and investments.
YUKKA Lab provides insurers with a data-driven approach to news analysis, offering various scores, including ESG risk, news-based credit risk, immediate risk, or investment ratings. Insurers can even create custom scores by selecting events relevant to their business.
YUKKA Lab’s selection for ITC DIA Europe is driven by the increasing volume of available data in the digital age. We leverage AI techniques to automate sentiment analysis and extract strategic insights from financial news. This approach transforms unstructured news data into actionable insights, empowering insurers to make informed decisions efficiently.
At ITC DIA Europe, we unveiled our prototype for LLM, a conversational interface that provides real-time news data for each portfolio, making it as easy as talking to a colleague. This innovation promises to further enhance insurers’ ability to stay informed and make data-driven decisions.