Classifier
Risk Marker combines the best of data, processing and predictive analytics to make a best-in-class business classification solution.
There is a vast amount of data available from the internet that can inform business classification BUT . . . extracting accurate insights and ultimately determining a primary NAICS with accuracy is challenging - especially for new businesses.
Leveraging the latest advancements in natural language processing (NLP) techniques we provide the key ingredient, classification categories, in addition to a resulting classification code. You can use our code or use the ingredients to feed your proprietary model. We have tested our approach with hundreds of thousands of businesses against known outcomes at a variety of insurers, validating the accuracy of our results.
Features
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Classification categories are keywords associated with a business online. These elements drive classification determination in any model and we provide these for you use in eligibility and underwriting automation or to feed your internal models.
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We make our own class determination and provide the top three NAICS and SIC codes for any businesses we find.
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Delivery via API or batch feeds.
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All 50 states + Canada and UK coverage.
Benefits
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Our NLP model ensures accuracy & freshness so you have the most up-to-date assessment of a business as it evolves.
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We prioritize accuracy and recall with validated data sets, avoiding hallucinatory pitfalls and massive costs of modern LLMs.
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Our reach and precision enable you to evaluate potential businesses with accuracy and automate intake, flagging risks that fall outside your appetite or for changes at renewal.
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The classifier is available optionally with one of our Lessor's Risk product packages or on its own for any line of business.