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Jan 29, 2020
New ML-driven advanced analytics available in the AWS Cloud, allowing customers to gain insights on how customers perceive their product, brand or services
90+% accuracy rate on contextual analysis (Positive, Negative and Neutral)
Piscataway, NJ and Chennai, India, 29 January 2020: Intellect SEEC, the insurance software division of Intellect Design Arena Ltd, announced today the launch of its Contextual Sentiment API on Amazon Web Services (AWS) marketplace. This API uses Machine Learning and Natural Language Processing (NLP) technology to provide real time text analysis and score / measure the contextual emotional response to a product / brand or a service.
Financial services language is often highly nuanced, typically describing multiple entities (companies, locations, people, etc.) in one paragraph with a lot of jargon that confuses even the most advanced generic NLP engines. This has resulted in data scientists spending a large amount of time collecting and tagging datasets rather than solving business problems. Or worse, erroneously using the generic NLP engine’s output to build out a bad model or business use case.
Intellect SEEC’s Contextual Sentiment API, through AWS Marketplace, enables customers to securely use the API for text analysis, including how a specific word was used in a given context. This new development will allow users to quickly detect sentiments expressed in company reviews, product surveys, social media posts, and other data sources to measure satisfaction and identify trends. This API offers real-time text analysis to score the sentiment as “positive”, “negative” or “neutral” and allows insurers, marketers, developers, data scientists, investors, and others to position their products, their brands, or their services better.
Lakshan De Silva, CTO of Intellect SEEC said, “Having tested several standard sentiment engines in the market, it came as a surprise that none of them did a great job at reading sentences in the context of multiple entities. Take a simple sentence like ‘the movie was bad but the acting was great’. The best NLP engines don’t know if it should be read from a movie’s (negative) or an actor’s (positive) perspective. We have solved that; so now, developers and data scientists can use contextual sentiment to solve more complex problems, knowing that finally they can accurately read the context, based on any entity.”
AWS customers across all verticals will be able to use Intellect’s Contextual Sentiment API via the AWS Marketplace. Contextual sentiment analysis presents all its subscribers with a unique ability to accurately analyse sentiment to deliver better products and services for their customers.
More information on Intellect SEEC’s Contextual Sentiment API can be found here
About Intellect SEEC
Intellect SEEC leverages next generation technologies to solve complex insurance problems and create intelligent solutions that deliver results. Intellect SEEC has been working with insurers across the globe for over 20 years, delivering value through core systems. However, we still consider ourselves as challengers. We work with established industry players and game changers alike to achieve a confluence of purpose and capabilities that questions the status quo and delivers exponential results to our network of stakeholders. Insurance is complex, but our solutions leverage Big Data, AI and conversational technologies to make it intuitive, engaging and insightful.
We have the vision of working with our clients and partners to deliver intelligent software that redefines insurance with speed, simplicity and sheer grit. www.intellectseec.com.
About Intellect Design Arena Limited
Intellect Design Arena Ltd, a specialist in applying true digital technologies, is the world’s first full spectrum Banking and Insurance technology products company, across Global Consumer Banking, Global Transaction Banking (iGTB), Risk, Treasury and Markets, and Insurance. With over 25 years of deep domain expertise, Intellect is the brand that progressive financial institutions rely on for digital transformation initiatives.
Intellect pioneered Design Thinking for cutting-edge products and solutions for Banking and Insurance, with design being the company’s key differentiator in enabling digital transformation. FinTech 8012, the world’s first design center for Financial Technology, reflects Intellect’s commitment to continuous and impactful innovation to address the growing need for digital transformation. Intellect generates annual revenues of USD 208 million, serving over 240+ customers through offices in 90+ countries and with a diverse workforce of solution architects, domain and technology experts in major global financial hubs around the world. For further information on the organization and its solutions, please visit www.intellectdesign.com