Many insurance organizations 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Couple this with the use of outdated technology to process large volumes of information and you have a recipe for error. OCR alone would not be enough to tackle your digital transformation project.
More and more insurers see this challenge as an opportunity to improve and reduce the overall costs of processing information. A realization that AI will free them from historical data bottlenecks and outdated processes that will drive more business growth across the enterprise.
It’s a blank canvas. On it, you can build a competitive edge with smart systems.
And omni:us is here to help.
Put simply, AI is software is trained by people to perform human activities.
(See more on why it’s taken off here.)
As with any rapid technological shift, there is uncertainty about what it means for the future. Let’s explore what this technology means for the insurance document intake, classification, and extraction process, and where omni:us is driving it forward. Below, we quickly cover some of the essential components of AI.
The magic of omni:us?
Artificial intelligence that can train various lines of business,
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 processes. Our tools can support or automate all types of data: structured, semi-structured or unstructured. You can quickly deploy AI into your claims processes, tackling specific use cases throughout the claims value chain.
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
Our mission is to enhance insurance industry processes and workflows by simplifying the claims handling life cycles. omni:us understands the value of automation by identifying key processes to shorten cycle times, enhance customer expectations, increase employee satisfaction, and improve data integrity to create better outcomes in the overall claims handling process.
Learn more about intelligent claims.