SD Refinery Announces Trademark for ClaimMeasure™
PLYMOUTH, MINNESOTA, July 19, 2019 â€“ Sentence Data Refinery, Inc. (“SD Refinery”), a company that provides proprietary technology to read and interpret sentence data for businesses, today announced that the US Patent and Trademark Office (â€œUSPTOâ€) has issued a trademark for ClaimMeasureâ„¢, SD Refineryâ€™s proprietary new tool for identifying and measuring critical events and activities in insurance claim files.
â€œWe are excited to have the USPTO recognize our unique ability to identify and extract critical events and activities from insurance claim data,â€ said Rock J. Schindler, President and CEO of SD Refinery. â€œClaimMeasureâ€™s ability to quickly and efficiently identify outlier claim events and activities is a dramatic improvement over the conventional process of sampling and manually reading claim files. By using technology to read every sentence in every note, managers can see the entire population through a variety of performance and operational metrics and then take timely and appropriate actions.â€
The trademark incorporates the first ever definition of the term â€œsentence dataâ€ for the USPTO and closes one of the knowledge gaps about data that exists between operational executives and information technology staff. In the trademark, sentence data is defined as â€œtyped sentences that are captured electronically and stored as dataâ€. Insurance companies capture sentence data both in databases, a structured data medium, and flat files like PDF or Word documents, commonly referred to as unstructured data.
â€œClaimMeasureâ€™s ability to read and interpret insurance claim sentence data from multiple sources represents an incredible opportunity for the industry,â€ said Judith Haddad, Chief Information Officer of SD Refinery. â€œBy distinguishing events and activities that happened, did not happen or may happen, ClaimMeasure can objectively measure almost any operational activity for a population of claims. This has tremendous positive implications for improving both the productivity and effectiveness of claims handling.â€
ClaimMeasure is powered by SD Refineryâ€™s proprietary technology specifically designed, developed and refined since 2006. It leverages data science methodology with narrow AI core capabilities that include the ability to extract written data, analyze sentences word by word, transact by applying key data points, and load the data into a data warehouse or analytic dashboard. The platform is highly configurable out of the box.
About Sentence Data Refinery, Inc.
SD Refinery uses proprietary technology to help companies objectively measure events and activities in underwriting, claim, and operational files by reading and interpreting sentence data with amazing speed and accuracy. For more information, visit sdrefinery.com.
Steven M. Lonergan