The clearest insurance application in text mining is in the claims department. Each claim, especially those that involve bodily injury, can be complex, resulting in a large volume of reports and emails. A claims adjuster’s ability to read, understand and quickly make decisions based on this information will be tested, and it is not unreasonable to expect that even the best adjusters will make mistakes. Natural language processing (NLP) can help claims adjusters manage their time by handling unstructured information in a number of ways. These techniques can be used to provide passive support to readers by highlighting specific keywords, providing summaries, extracting concepts and even detecting emotional content.
Overcoming Cognitive Biases in Claims Handling