Intelligent Document Processing for Insurance Industry

InferIQ enables insurers to quickly process large volumes of documents with accuracy and speed.

Intelligent Document Processing for Insurance Industry

Many insurance companies have begun to turn to (Intelligent Document Processing) IDP to digitize, classify, and extract data from various documents. Insurance companies predominantly handle PDFs, scanned documents, and emails that often need specific data to be extracted. The result of using an AI solution like IDP is that it ultimately processes documents within a fraction of the time. With end-to-end document processing automation, insurance companies can more easily stay on track with business objectives, such as improving time, cost, and document extraction efficiency.

List of Key Documents in the Insurance Industry

The rise of innovation and digitalization within the insurance industry has also given rise to a solution to the document problem; Intelligent document processing (IDP). In short, IDP solutions transform unstructured information into usable data. This enables companies to automate this complex document processing and immediately distribute data to the right people. InferIQ is one of these IDP solutions, tailor-made for insurance companies.

Key Benefits for Insurance Industry

Claim Processing Time

70% Reduction in Claim Processing Time.

Improving Process Efficiency

Streamline their policies and reduce discrepancies.

Automated Decision Making

Reducing the expenses of back-office costsIDP technology will not only accelerate claim processing but even begin to automate data-driven decision-making.

Reducing Fraudulent Claims

Reduce fraudulent claims by identifying suspicious activity or inconsistencies in documents before they are processed.

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We would like to know how the InferIQ can solve the data extraction challenges and enable new business outcomes.

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