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Compliance Workbench - Intelligent Investment Guidelines Processing

Business Requirement and Challenges

The compliance team of a large global insurance organization handles a lot of investment restriction documents on a regular basis to identify, catalog, and manage restrictions. These documents vary from thirty to hundreds of pages. The task involved a lot of manual effort while identifying and cataloging restrictions in these compliance documents. Also, this in turn leads to missing out some guidelines/restricts and is very much prone to human errors.

There are thousands of documents and thousands of guidelines/restrictions being divided into multiple categories and codes. These restrictions were fed into a third-party tool. Due to manual activity, a lot of redundant rules got created.

Our Solution

A simplified and modernized solution leveraging AI and Automation technologies is developed to identify and also manage the rules. Coforge proprietary accelerator “Document AI” was leveraged to solve this problem for the client.

  • Built a customized AI model to extract all the available guidelines and restrictions from each document
  • Each new guideline is populated with existing best-matched guidelines from the downstream applications.
  • Recommend restrictions that further can be fed into the downstream application
  • Feedback loop for re-training/tuning the AI model to improve the accuracy of identifying restrictions
  • Build a UI to ingest guideline documents and display the restrictions. All these restrictions are high-lightened in guideline documents for validation and quick search. Options to Add, Remove and Update extracted restrictions are provided
  • The user has the ability to take the recommended restrictions and push them into the downstream application
  • We have also provided a scoring mechanism to identify and bundle similar rules
  • Guidelines can be extracted in near real-time or batch processing mode

Benefits derived

  • Automated Information extraction removes those inconsistencies by creating consistent rules across teams and entire organizations.
  • Reduced manual intervention
  • Effective workload management
  • Create unified database
  • Operationally easier to handle large files
  • Having the capability to quickly and efficiently go through the document using search and high-lightening capabilities of guidelines or phrases into document helps business user to effectively review the document.
  • Avoid costly human errors of missing out on any guideline which may lead to mistrust from customers or even legal action from oversight agencies.
  • Process Transparency and logging


High-Level Solution Flow


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