A data analysis firm is making a major push to win clients in the U.S. life insurance sector.
The company, SparkBeyond Ltd., has put out a white paper describing, in general terms, what its artificial intelligence-based research engine system has done for insurance industry clients, including life insurance company clients.
SparkBeyond says for example, that it has helped clients locate the data sources needed to develop new types of insurance pricing, customer service and underwriting tools,
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One project, for example, involved helping a U.S. life insurer develop an accelerated underwriting process that reduced the need for applicants to provide physician’s statements, according to SparkBeyond.
SparkBeyond was based in Netanya, in Israel, and is now based in New York. The company’s team members have a number of AI-related patents, in connection with tasks such as generating AI hypotheses about a set of raw geographic data, finding the strange entities in a set of data, and using raw data to generate features for use in an automated machine learning process.