Property inspection reports provide comprehensive details about the condition of a property, offering an item-by-item description of various areas observed by the inspector. These reports typically include information about any broken or damaged items found within the home, accompanied by relevant photographs. Each image is usually accompanied by a caption to provide additional context and clarity. Furthermore, property inspection reports may also contain advice or recommendations from the inspector regarding the observed issues or potential areas of concern. This advice can help homeowners and insurance underwriters make informed decisions about necessary repairs, maintenance, or risk mitigation measures.

It's important to note that property inspection reports tend to be large in size due to the level of detail provided. They encompass a thorough examination of the property, including its interior and exterior, and may cover various aspects such as the condition of the roof, electrical systems, plumbing, structural integrity, and more.

The significance of property inspection reports lies in their relevance to insurance underwriting and claims adjudication processes. Underwriters, who assess risks associated with insuring a property, often rely on these reports to evaluate the property's condition accurately. The detailed information within the reports assists underwriters in determining appropriate policy terms, coverage limits, and premiums.

Coforge has built this solution that helps underwriter automatically analyze the report so as to optimize the overall time taken for process. This solution is built using NLP and Azure OpenAI capabilities. Some important features of the solution are:

• Identifying and extracting images and captions from the report.

• Summarizing the contents for each image that has issues such as broken roof, dents etc.

• Severity and Risk Score based on conditions of various items in the property.

The user interface is intuitive and provides a simple and effective way to edit and validate extracted information with minimal effort.

Key Benefits:

o Improved accuracy: Reduce the possibility of errors and improve accuracy.

o Increased efficiency: Speed up the process and make it more efficient. Saving significant time and resources.

o Consistency: Automation ensures that inspection reports are analysed consistently, reducing the risk of human error or bias. Solution provides a standardized approach to the analysis.

o Improved Decision-making: Access to accurate and comprehensive analysis of inspection reports empowers decision-makers to make informed and evidence-based decisions. It provides a holistic view of the property or asset condition, enabling better risk assessment and effective resource allocation.

The solution overall helps underwriter to close the process much faster that results in better efficiency and less errors further enabling streamlined operations for the organization.