Looking to base decisions on 100% of your data?
Insurers sit on vast reservoirs of data held across multiple systems including case management systems, document repositories and legacy systems. The data within those systems is either held in a structured or unstructured format.
Analysis shows that between 15% to 20% of information available to an Insurer is available to Insurers is structured format, the remaining 80% to 85% is in unstructured data. Further analysis shows that unstructured data is growing at a rate of between 55% and 65% year on year.
Structured data is everything that is held in distinct pre-formatted fields within Insurer’s systems and case management systems. In general, for insurers, this information is populated by manual input by operational teams, so can be subject to manual interpretation and human input error. Information in free text fields is not analysable by current systems.
Unstructured data is everything else – so all the other data and information the Insurer holds; documents, email, text within images, file notes and free text fields in case management systems.
In most cases, Insurers are basing business-critical decisions (including strategy, pricing, process and workflow based upon) on structured data they can analyse and interrogate through automation. However, structured data only makes up 15% to 20% of their available information with the remaining 80% only accessible through manual interrogation and interpretation.
360Globalnet technology changes that by ingesting all unstructured data, turning it into searchable information capable of interrogation and analysis.
Additionally, it joins internal, external, Industry and designated third party data sources providing a “one world view of all available data” for the purposes of interrogation and analysis.
Have you ever wished you could search your documents as you would with the internet?
360Retrieve ingests and indexes the entire textual content of all unstructured data turning it into searchable data, enabling you to retrieve information from within documents and free-text in sub-second.
Document retrieval is simple, fast and efficient.
At your fingertips is access to all your unstructured data within documents, email, text within images, file notes and free text fields in case management systems to find the information you are looking for.