Finity has launched AI-powered software that automates industry data categorisation.  

The tool, called Classifi, converts text into standardised listings, identifying and matching categories for the best classification. 

“We see it becoming the industry’s go-to for all classification tasks – claims, vulnerable customers and more – all tailored to that insurer’s needs,” senior consultant Dylan Neenan said.

“Classifi simplifies the industry categorisation process, converting complex descriptions into accurate ... codes with ease.” 

The tool is aimed at underwriters, brokers and data teams and is accessible online or through existing system integration. 

Finity says it speeds decisions and enhances operational efficiency. Classifi also cuts the time, cost and subjectivity of manual classification, and can be embedded into underwriting workflows, front-end customer quotation systems and risk assessments, or used to analyse historical data, according to the actuarial consultant.