Process automation

For banks, insurance companies and other organizations, replacing manual, error prone and cumbersome activities with technology-driven automation is a necessity. When organizations implement innovative technologies that automate time-consuming, labor intensive activities they improve efficiency, increase accuracy and drive down costs.

  • As organizations find themselves inundated with more information than they can manage, the reliance on individuals to manually review each information asset and apply the appropriate metadata is infeasible and results are error prone.
  • Results from manual processing are not consistent, transparent or auditable. When compliance issues arise, the inability to demonstrate consistent policies, procedures and processes can result in fines, sanctions and loss of reputation.

Smartlogic’s Semaphore is an enterprise grade semantic platform that allows organizations to realize the business value of their information. By leveraging a common vocabulary and sophisticated semantic techniques Semaphore:

  • Enriches information assets with precise, complete and consistent metadata
  • Extracts facts, entities and relationships to drive analytics and workflows
  • Harmonizes all information sources to gain business insight

Semaphore brings structure to the unstructured, scales to manage organizational volumes, is built upon semantic standards and leverages Linked Open Vocabularies.

Improve Regulatory Compliance in Banking

Customer on-boarding regulations such as Anti-money laundering (AML), Know Your Customer (KYC) and Foreign Account Tax Compliance Act (FATCA) can have a negative impact on an organization’s bottom line if not performed correctly.

For each new customer or service, a due diligence process, which involves identifying and verifying the identity of a customer using reliable and independent information in accordance with current law is performed. The process of manually reviewing each asset to locate the relevant facts and tagging them is time consuming and error prone.

Semaphore eliminates the pain of manual processing and produces precise, consistent and transparent results. Building a model that identifies the entities, facts and relationships that correspond to the appropriate regulation and then using that model to automatically evaluate every piece of information associated with a customer, reduces the time, effort and number of people involved in the process.

Yet organizations can gain benefits beyond a reduction in processing time:

  • Transparent and auditable results – information is reviewed and tagged in a consistent manner, results are based on a single repeatable process rather than human judgment.
  • Reduced risk – the quality of output is high reducing sanctions and maintaining reputation.
  • Manual involvement can be focused on exceptions - when the number of customer evaluations to perform is reduced, manual intervention can be refocused to deal with exception processing.

By incorporating Semaphore’s semantic models and sophisticated classification strategies into their technology stack, organizations can invert the antiquated 80% human labor and 20% workflow model by deploying a straight-through-process environment where intelligent machines process 80% of the information and raise the remaining 20% to a team of human operators for exception handling.

Automate Insurance Claim Processing

In the insurance industry, replacing manual, labor intensive processes with innovative technologies that improve processing and decrease errors is essential to maintain competitive advantage and improve ROI.

Semaphore lets you:

  • Speed the approval process: a model-driven automated interpretation of claim data results in fast and accurate processing. The identification and extraction of the relevant entities, facts and relationships found in the data can be quickly and accurately mapped to policy information and speed up the claim approval process.
  • Augment existing processes: augments the claims validation process, from collection of the claim information to mapping the relevant information against the policy coverage database.
  • Improve decision making: claim automation drives accurate and rapid responses resulting in fewer contested decisions, minimal rework and reduced legal costs.

The Semaphore platform leverages a model and metadata to support and automate insurance claim processing. Claim coverage can be collected, examined, validated and tagged using the Semaphore platform to improve claim outcomes, reduce rework and minimize legal costs and ramifications.

Semaphore Supports All Industries

From Life Sciences to Energy to any organization that wants to leverage information to drive successful business outcomes, Semaphore provides the tools and technologies to support business goals.

Life Sciences organizations use Semaphore to support timely and accurate health authority reporting, to identify deviations in protocol for clinical trial management and to assist in the preparation of CANDA submissions. In the Oil and Gas industry, Semaphore supports contract and lease management activities and Health and safety reporting associated with OSHA or other regulatory bodies can be quickly and accurately supported.

Semaphore Streamlines Processes

The Semaphore platform provides model management, sophisticated classification and semantic enhancement services that help organizations in all industries manage and streamline enterprise information.

  • Ontology Editor - A feature rich model management platform that lets users model the concepts, topics, products, organizational structures and relationships that are uniquely important to their organization and industry.
  • Classification Server - combines precise rulebases, sophisticated natural language processing, entity, fact and relationship extraction to result in precise, complete and consistent metadata.
  • Semantic Enhancement Server – serves the model to downstream applications, applies rich metadata to all information assets and delivers a compelling search experience.

With Semaphore, information intensive processes can be automated by using Ontology Editor to develop a robust model that identifies the relevant entities, facts and relationships associated with regulations or processes. Classification Server leverages the model and sophisticated semantic strategies to result in contextual metadata that can be integrated with workflow engines, business rule engines and other downstream systems to drive compliance and workflow processes.