Insurance begins with document intake.
Doc intake: Where we stand.
Most claims teams are still manually classifying and extracting data.
Use of optical character recognition (OCR) technology, which converts images or scans of text into machine-encoded data, has been low among US insurers.
Couple this with the average age of an insurance backend system (15-20 years), and you have a recipe for error. It’s also true that OCR alone would not be enough to tackle your major digital transformation project.
Intelligent insurers see this crossroads as an opportunity.
It’s a blank canvas. On it, you can build a competitive edge with smart systems.
And omni:us is here to help.
“The idea that omni:us can set up a platform that is capable of dealing with any type of unstructured document, extracts the data, classifies it and puts it at disposal of an insurance company – that’s cutting-edge.”
Managing Director & Partner, Boston Consulting Group Munich
A short intro to artificial intelligence –
new horizons for document intake
Put simply, AI is software which is trained by people to perform human activities.
(See more on why it’s taken off here.)
But as with any rapid technological shift, there is uncertainty about what it means for the future. Let’s explore what such technology means for insurance document intake, classification, and extraction, and where omni:us is driving it forward. Below, we quickly cover some of the essential components of AI.
Natural language processing (NLP)
NLP enables claims software to better understand documents and text. This text – a first notice of loss, or an invoice – arrives in many forms, from various sources. NLP makes processing this text easier.
“NLP is basically trying to enable machines understand human language whether it’s spoken or written. Now this is a very ambitious goal and we know that. But on our way to get there, we have been able to create extremely useful applications that partially understand, translate, and respond to questions and statements in natural language.”
Dr. Meghdad FahramandSenior Data Scientist, omni:us
Computer Vision is when we give eyes to a computer, so that it can understand what exactly is present in a damage photo, document scan, or video stream. This is extremely powerful when applied to claims.
“Computer vision enables a computer to “look” at a document and detect it’s layout, any objects and colours it contains and even reason about relationships between them. Combine CV with NLP, and you have a machine that can read any type of document and automatically interprets the layout and any images contained.”
Diede RusticusData Scientist, omni:us
So, now that we’ve learned about the technologies underlying our AI,
let’s explore how omni:us can augment your claims.
the omni:us Claims Suite
The magic of omni:us?
Artificial intelligence which your various lines of business can train, without any extra scientific expertise.
We offer a suite of tools built on NLP and computer vision techniques. These have been developed specifically for document intake and claims management. Our tools can support or automate any kind of data: structured, semi-structured or unstructured. You can quickly deploy AI into your processes, tackling specific use cases throughout the claims value chain.
Only with omni:us, you can:
Innovate document intake with a hybrid approach
omni:us creates an environment where both human and machine complement each other in a thriving hybrid workflow.
Build your own machine learning models
and create a tool designed to your specific use case, like speeding up your digital intake.
Leverage the cutting-edge
without requiring further AI/data science expertise. omni:us sits efficiently within your company’s claims landscape and core infrastructure.
Compound documents: files or attachments with multiple sub-documents. We know they’re a pain. Which is why we view the classification process as a dual task: executed both at document level and at page level. With omni:us, you can isolate specific documents and put them where people can find them, easily.
Rupin Mago, VP Sales North America
Increasing efficiency at scale.
omni:us provides insurers with automated document processing software to reduce costs and increase the quality of data extraction and archiving compared to existing manual and digital methods.
85-95% faster processing than manual document processing.
85%-95% of processed documents need no further quality assurance.
Up to 90% of cost savings per document compared to alternative methods.
Ease of Use.
State-of-the-art user interface & seamless integration.
Our mission is to boost the core of good insurance with operational excellence and efficient claims handling. For us, becoming customer-centric means becoming future-proof, while protecting and furthering the interests of both carrier and customer. With omni:us, you can trademark empathy.