How to model Compliance and Underwriting Applications?

The typical common aim of Compliance and Underwriting applications is to check if the given set of rules and regulations apply in a given case scenario.

The following are examples of Compliance and Underwriting applications:

• Insurance Underwriting
• Company Expenses Authorisation
• Building Planning Permission
• Anti-Money Laundering Compliance

These type of applications differ from Assessment applications in that the knowledge base is typically made of policy rules and regulations prescribed by a body. These may also include an Assessment component, for example Flood Risk Rules may well include an assessment of Flood risk.

Where possible, the main aim of modelling here is to ensure that the knowledge representations used are as close as possible to the way these rules are articulated. This enable the process of effective rule validation and maintenance. If this is not possible (for example if the policy is expressed using plain language text) then a mapping process should be performed with the help of "experts" who are able to interpret the text.