Contract Analysis

As the company increased it’s new business, the amount of contractual wordings to review also scaled, and with a fixed headcount, we needed to find a more efficient means to review these documents to understand what inclusions or exclusions might need to amended to satisfy our requirements.

We worked to develop a new product that uses ground truth built from an ideal wordings libary to train an LLM to look through documents, to see if the phrases and sentiment of the wordings aligns with our desired terms.

The output was a contract service that picks up email attachments to perform analysis. This then scores the contract terms against ideal terms, removing the requirement for Underwriters review each contract to such depth manually. This results in significant time saved in underwriting, and the ability to use this data to offer alternate scenarios for Underwriters to tighten or loosen the contract requirements to assist in negotiation tactics - all the while informing them of the potential impact to estimated loss.