AI powered automation has gained immense visibility across the insurance sector. Identify and automate manual insurance forms processing workflows - to reduce operational costs, gain a competitive advantage, and deliver a compelling customer experience.
The insurance form submission intake process is inundated with multiple operational challenges – the inconvenient manual-driven process is highly error-prone and brings unprecedented disruptions. PDF documents are now submitted through emails or a digital portal, and often these documents are processed manually.
Underwriters and assistants spend up to 45% of their time on administrative work, consolidating and enriching data, when their core focus should be on evaluating risk. It reduces process cycle time, increased costs, data processing errors, and inefficient collaboration between agents and underwriters, and many more!
Kanverse IDP solution for insurance digitizes forms submission and processing for insurance companies. It intelligently classifies, captures, and extracts all data from forms entering the workflow. It then organizes the information based on business needs. The raw data is sanitized and cleansed by the system during processing.
Once the data has been validated and verified, the system automatically exports it to downstream business applications. The entire process is powered by Artificial Intelligence (AI) and advanced machine learning (ML) algorithms to make business processes more resilient to disruptions and help mitigate risks.
- Building effective zero-touch ACORD & Supplemental forms processing workflows across business processes.
- Reduced operational costs by optimizing business processes and workflows with intelligent automation.
- Reduced document processing cycle time across business processes.
- Increased productivity and efficiency.
- Enhance operator experience.
- Uninterrupted business process continuity with effective data processing and validation framework
- Unclutter insurance software systems by ensuring data integrity and quality before publishing.
- Meeting end-to-end compliance and security requirements with holistic visibility and monitoring