Proof of Concept Projects
prototypes, some of which already employ the InsurML and InsurLE
standards.
Digital Contract Authoring and Publication:
Axiome has developed two proof-of-concept projects for the authoring of InsurML-based contracts. The contract-specific authoring capability has been built through the customisation of standard XML-authoring software. Additional functionalities allow for contract variations to be expressed as well as for cross-referencing. This approach has been undertaken for insurance contract wordings as well as contracts for the delegation of authority. The delegated authority prototyping has been based upon the contract redesign work undertaken in collaboration with the LMA with an early version of InsurML
See Link Here
Component-based Content Management System:
Axiome has developed a proof-of-concept project on the management of modularised contracts using an off-the-shelf, XML-based, content management system. A policy wording was modularised and then enriched through the addition of cross references, embedded variables and metadata. A set of short demonstration videos can be found on YouTube
Application of Neurosymbolic AI Approaches for Claims Handling:
Axiome has developed a proof-of-concept project to show how a computational representation of a contract (using InsurLE), as well as individual claims (also using InsurLE) can be used to support decision-support for claims handling. InsurLE versions of the contract and the claims are fed into a reasoning engine (together with a query such as: ‘Is this claim covered’). The output is a yes/no answer to the query together with a full explanation as to how that conclusion has been reached.
