Case Study
Intelligent Document Processing
A leading insurance company wanted to reduce the amount of time for processing paper based insurance claim forms and were looking for an automated solution that could extract and process data from the documents and integrate with their existing platform. We built a intelligent document processing solution which helped them automate their document processing and increase the efficiency of the claims processing.
- Data accuracy to levels of 99% including hand writing
- Seamless processing ensured accurate data returned within minutes rather than days
- Increase in cost savings from higher volume processing per unit of day
Challenge
One of the leading insurance companies in Europe were looking to automate their existing manual processes of handling insurance claim forms. They were looking to fully digitise their process with robotic process automation to sort and extract information from documents which could be used for processing. The manual processes required a huge amount of time and labor which resulted in delays and cost overheads for the company.
Solution
We built an AI powered digital transformation and document processing solution to automate the handling of insurance claim forms. Our system allowed the company to automatically detect and process the documents without the need for any manual intervention. This helped eliminate the need for manual document sorting and data extraction and integrated with their existing IT infrastructure for entering and processing of the extracted data. The system helped eliminate manual time consuming and intensive processes while improving the quality, customer experience and the bottom line.
Our proprietary AI algorithms could handle both structured and unstructured documents and were able to perform handwriting recognition and extraction with an accuracy of 95%. The algorithms used Natural Language Processing and semantic understanding to extract relevant data points from unstructured documents.
The system was deployed in the cloud with scalability in place that allows it to processes thousands of documents in parallel. This was integrated with the company legacy IT infrastructure.
Results
Our intelligent AI powered document processing solution helped deliver tremendous value to the company and helped them achieve
- Operational efficiencies of uptown 90%
- Reduction in document processing times
- Elimination of manual repetitive tasks which resulted in cost savings
- Scalable automated infrastructure that scaled with increased volumes without disruption
- Positive impact on customer experience
