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Springfield Challenge: About

The document describes a challenge to develop a software application to extract key information from insurance industry documents through natural language processing. It provides details on the problem statement, competition structure over 3 stages, timeline, registration process, team eligibility, and prizes for the top teams.

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amolridhore
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69 views

Springfield Challenge: About

The document describes a challenge to develop a software application to extract key information from insurance industry documents through natural language processing. It provides details on the problem statement, competition structure over 3 stages, timeline, registration process, team eligibility, and prizes for the top teams.

Uploaded by

amolridhore
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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SPRINGFIELD CHALLENGE

ABOUT

JLT Group plays the role of a leading global risk advisor and broker for several complex insurance
and reinsurance transaction. As a part of broking transaction, the brokers get access to several
business documents like proposal form, RFP documents, submissions, claims notifications,
bordeaux, schedule of values, Market Reform Contracts (MRC), etc. to name some key
documents. As per the current process, at each stage of broking value chain, these documents
are stored in document management system or broking/billing system and most often only partial
information is saved which is critical to execute the process. Large pool of data still lies in the
documents and there needs to be a solution to efficiently capture the critical information from
these documents in order to build a single source of truth and a rich dataset that can be used for
advanced analytics.

PROBLEM STATEMENT

• Develop a software application which has a front-end that allows users to upload documents
and define rules for data capture and save rules for future re-use.
• A system to support Natural Language Programming/advanced algorithm with self-
learning/cognitive capability as the back-end processing engine.
• Once all the rules for a document are defined, the user can execute the conversion engine
from front-end which will create the dataset and show captured data on the front-end tool.
• It also highlights the fields that look incorrect basis deviation from the rules defined and
allow the user to either refine the rule or make manual amendment to the captured data.
• Once for documents which are more or less consistent a business rule is defined and saved,
the front-end tool should allow multiple/batch processing of 1000s of documents at a time
and follows the same validation approach.
• The front-end allows the user to select and extract the captured information/data in multiple
structured formats like Excel, .CSV, SQL database, etc.
• Recommended technology stack should include Python and solution to be developed using
C# .NET or Java
STRUCTURE

Competition will take place in 3 stages


1. Stage 1 - Submission of detailed functional description of the solution including proposed
technical approach to develop it. Successful submissions must have the detailed technical
specifications mentioned.
2. Stage 2 - Selected teams will move to Stage 2. Here the proposed solution needs to be
developed (prototyped). The selected teams will have an opportunity to submit proposed
approach and present their solution to JLT team to receive feedback. Successful
submissions must have clearly outlined approach to develop the prototype along with an
initial version of their prototype.
3. Stage 3 - Top 15 teams will be selected and would get the chance to participate in the
Grand Finale at Techfest, IIT Bombay which is from 14th-16th December. Here, the
proposed prototype will be developed into working application and demonstrated to a panel
of judges.

TIMELINE

Last date for registration 21st October


Last date for theoretical report of Stage 1 21st October
Results and Shortlisting of teams for Stage 2 23rd October
Last date for submission of design report of Stage 2 11th November
Results and Shortlisting of teams for Grand Finale 18th November
Grand Finale and presentation of complete prototype 14th-16th December

REGISTRATION and SUBMISSION

The Participants have to register on the official Techfest Website and fill all the necessary
details: www.techfest.org > Competitions > Springfield Challenge > Register
Abstract Submission–
Teams will be required to submit one report to [email protected]. This report
should contain the idea they are looking forward to work on.
Submission Format-
The project report should be emailed to [email protected] with the subject
Springfield Challenge Report: Team Id (For example: Springfield Challenge: TF123). Teams
must follow the following details for the submission:
1. The abstract must be submitted in pdf format only
2. Font: Arial
3. Size: 11
4. Spacing between two lines: 6 pts
5. Spacing between two paragraphs: 10 pts
6. Bottom margin: 1 inch
GENERAL RULES

1. Every team has to register online on official Techfest website for the competition.
2. A Team ID will be allocated to the team on registration which shall be used for future
references.
3. A team can register at any point of time before and can submit final abstract and video (as
mentioned in the structure).
4. The decision of the organizers or judges shall be treated as final and binding on all.
5. No responsibility will be held by Techfest, IIT Bombay for any late, lost or misdirected
entries.
6. The idea presented by the teams should be original (not protected by means of
patent/copyright/technical publication by anyone).
7. Note that at any point of time the latest information will be that which is on the website.
However, registered participants will be informed through mail about any changes.

TEAM SPECIFICATIONS and ELIGIBILITY

• All students with a valid identity card of their respective educational institutions are eligible to
participate in the competition
• One team can have a maximum of 4 members.
• Students from different institutes can be a part of the same team.

CERTIFICATE POLICY and PRIZES

• The Prize money will be awarded to Top 3 Winners via NEFT and will be processed within
30 working days.
• Consolation prizes will be awarded to top 10 teams (other than top 3 winners, i.e. position
4th -10th) via NEFT as mentioned above.
• Top 15 teams will qualify for Grand Finale to be conducted at Techfest 2018-19
• Top three teams in the grand finale will be awarded Certificate of Excellence.
• E-Certificate of participation will be given to the teams scoring more than the critical marks
which will be decided later (top 60% of teams except top 3 teams)

The Winner will have to mail the following information (immediately after announcement of
results) to [email protected]
Subject: Springfield Challenge, team id- your position (example- Springfield Challenge, TF123 –
1st position)
Body of mail-
1. Account Holder’s Name
2. Account Number
3. Bank name and Branch name.
4. IFSC Code
Important Note:

Intellectual Property Rights-


The IP rights in the content(s) of the submitted entries and related prototype shall be assigned
to Jardine Lloyd Thompson (“JLT”) without any further consideration. JLT shall have the rights
to implement and commercialize the software developed and/or derivatives produced as a part
of this competition.

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