SnapInsure

SnapInsure transforms complex insurance policies into clear, actionable insights. Our solution empowers insurance professionals and policyholders by instantly extracting, summarizing, and answering.

Created on 29th October 2024

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SnapInsure addresses several key problems in the insurance industry:
Challenges we ran into
When implementing SnapInsure, challenges that arose:

Complexity in Policy Documents: Insurance policies are often filled with dense,
legal jargon that is difficult for policyholders and even professionals to
understand. SnapInsure simplifies this by providing clear, concise summaries.
Time-Consuming Policy Analysis: Insurance professionals spend a lot of time
manually reading and analyzing policies. SnapInsure automates this, reducing the
time spent on policy review by up to 75%.
Coverage Gaps and Overlooked Details: Identifying gaps in coverage or important
deadlines in lengthy policies is challenging. SnapInsure’s deep policy analysis flags
these automatically, minimizing the risk of oversight.
Inefficient Customer Service: Policyholders often rely heavily on customer service
representatives for basic questions, causing delays and inefficiencies.
SnapInsure's FAQ engine offers instant, accurate answers based on policy
documents, reducing dependence on human support.
Lack of Informed Decision-Making: Without clear insights, policyholders struggle
to make informed decisions about their coverage needs. SnapInsure empowers
them with straightforward summaries and contextual information.

Maintaining Accuracy in Summarization: Condensing complex legal language into
clear, concise summaries without losing critical details or misinterpreting key
information is difficult. An error in summarization could lead to misunderstandings
or liability issues.
Adapting to New Policy Updates: Insurance regulations, policies, and terms
frequently change. Keeping SnapInsure up to date with the latest rules, terms, and
legal standards across different regions and insurers can be a continuous
challenge.
Handling Ambiguous Queries: Users may ask vague or ambiguous questions
about policy terms. The AI needs to be equipped to handle these situations
gracefully, by either clarifying the query or offering the closest possible answer.

Tracks Applied (2)

Polygon

ETHIndia

Technologies used

Solidity

HTML

CSS

JavaScript

reactjs

OnDemand Sync API

OnDemand Knowledge

RAG Agents