Praedicat, an InsurTech analytics company, has announced the launch of ChemMeta; a product that provides clients with tools to monitor and evaluate the latest regulatory and environmental information on the chemicals it uses.
ChemMeta leverages natural language processing and machine learning to “read” and convert high volumes of toxicology and environmental health literature into actionable information for clients.
“We are excited by the opportunities to help chemical industry clients to look ahead at where the science may be headed and to make data-driven decisions to make the safest products possible,” said Dr. Robert T. Reville, Chief Executive Officer of Praedicat.
The software is designed to facilitate science-based decision-making for several critical chemical business functions, including horizon scanning, research and development, product formulation and substitution, and regulatory affairs.
ChemMeta is also aimed at expanding the ability of product stewardship – the act of a company taking on responsibility and accountability for its environmental impact.
“Leading chemical companies are committed to making decisions based on the science,” said Dr. David Loughran, Senior Vice President for Product at Praedicat, “but with hundreds of products and ingredients, the scale of information coming from science is impossible to track.”
“Product stewardship is the art and practice of balancing innovation and risk and the best information on risk is found in the scientific literature,” explained Loughran. “The world’s scientific community is working hard every day to better understand how commercial activities impact human health and wellbeing”
Reville added, “Today’s science is tomorrow’s regulatory action. It just makes sense to use data and analytics to get ahead and address risks at the earliest time.”
