Dr. Stefan Wess, CEO and Executive PartnerWhen Munich Re, one of the world’s largest reinsurance companies was struggling to recognize damage events at earlier stages, they realized that an enormous amount of time was expended in processing cases. They developed the Early Loss Detection (ELD) system, which collected business-relevant information from numerous digital news sources from the Internet and analyzed them as quickly as possible. Underpinning the intelligence behind the ELD system is knowledge management stalwarts, Empolis. Allowing prompt and real-time intervention into current damage events, continuous monitoring of known damage events, and accumulation of data about damage events, ELD powered by Empolis changed the game for Munich Re. Between 2015 and 2017, over 25 million articles were analyzed and about 75,000 fire accidents were identified at an early stage in the USA and the UK alone.
By analyzing and processing terabytes of data—both structured and unstructured—in milliseconds to interpret and automatically turn it into insights, and insights into decisions, Empolis empowers organizations with the ability to make the right decisions. Demonstrating their motto, “DECIDE. RIGHT. NOW,” Dr. Stefan Wess, CEO and Executive Partner at Empolis, comments, “Employees and customers reliably receive precise and relevant information, situation-appropriate and task-relevant, for faster and better decision-making.”
Data generated and managed in a component content management system (CCMS) is coupled with information about products, customers, their profiles, and suppliers that is generated in a knowledge management system to deliver additional value. When it comes to delivery, Empolis provides a Software-as-a-Service (SaaS) model for its full range of solutions, which include Empolis Service Express and Empolis Smart Cloud, in addition to traditional on-premise software delivery.
The firm’s solutions and technologies, such as big data, case-based reasoning, cloud computing, component content management, decision trees, in-memory computing, semantic search, as well as text mining and linguistics, have been proven to extend above and beyond the newest technological process standards.
No one must ever make wrong decisions again because it’s Empolis’ mission to utilize all information to provide the right recommendations
It is no wonder that Empolis has been accredited with numerous accolades over the years including being one of the top 100 companies globally which specialize in data capture and analysis and one of only four German companies in that acclaimed group, including SAP, SAS Institute GmbH, and Software AG.
Having witnessed the upward growth trajectory of AI over the last four years, Wess strongly believes that the benefit of AI is now not just limited to large corporations. “With the world moving toward the cloud, any company can now make use of artificial intelligence for purposes such as predictive maintenance or the Internet of Things,” he elaborates. Keeping up with this trend, Empolis enables its customers to accommodate such trending buzzwords by infusing technologies like artificial intelligence (AI) into its knowledge management portfolio.
Undoubtedly, numerous prestigious national and international companies, market leaders and public sector institutions rely on Empolis solutions, owing to its long-standing industry and process know-how. Its current client base consists of 250 Fortune 500 companies with their solutions being used by around 620,000 users, serving about 34 million consumers—spanning all industry sectors including automotive, aerospace, consumer products, manufacturing, engineering, construction, high-tech, media, publishing, telecommunications, utilities as well as government agencies. With a strong background in delivering groundbreaking solutions and years of expertise, Empolis looks all set to cater holistic creation, management, analysis, intelligent processing and provision of all information relevant to a business process. Turning data into insights, turning insights into decisions.