Unstructured Data in Underwriting

Insurance underwriters in most lines of business, but especially commercial and specialty lines, receive and produce an enormous amount of unstructured data. Underwriters receive applications for insurance. The boxes checked by applicants provide some perspective on the nature of the risk presented by the applicant. Any descriptions provided by the applicant – or its agent or broker – provide far greater insight into the characteristics that make this potential insured different from the others.


Underwriters also receive such things as engineering reports, loss control reports, and risk management evaluations. Virtually all of this information is unstructured data and it contains critical insight into the risks that do or do not exist for an insured. Most importantly, underwriters document salient points, important factors, and those considerations which influence their decision to rate or classify a risk in a certain way. Ultimately, these factors get rolled into a package that defines the specific coverage offered and the amount of the premium charged.

All of this information is unstructured data.

For more discussion of unstructured data analysis in underwriting, see Underwriting Processes.

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