Hyperautomation platform Kanverse has rolled out an artificial intelligence (AI)-powered document processing product for the insurance industry. As a result, insurers can “intelligently automate” the insurance forms submission intake process (for ACCORD and supplemental forms) with up to 99.5% extraction accuracy.
Traditionally the insurance forms submission process faces multiple operational challenges —manually processing documents is highly inconvenient, error-prone brings unprecedented disruptions. As a result, underwriters and assistants spend up to 45% of their time on administrative activities, consolidating and enriching data, when their core focus should be evaluating risk.
“The release changes the paradigm for submission intake for the insurance industry by automating the end-to-end process” - Dr. Akhil Sahai (Chief Product Officer, Founding Member – Kanverse.ai).
Continue reading this comprehensive and poignant take on automating the insurance forms submission process here.
About the Author
Dr. Akhil Sahai, Chief Product Officer, Founding member Kanverse.ai