Carriers invest significant effort and resources in manual document processing.
Insurers daily get large volumes of documents like policy applications, claims forms, supporting materials like medical records, police reports, endorsements, renewals, cancellations, and various other correspondences related to insurance policies. These can come in emails, as attachments, as PDFs or GIF/JPEG files.
Technologies like OCR, RPA, and ML have been employed to automate parts but has not been able to eliminate manual work. Insurers have a need to swiftly and efficiently handle these documents.
KognitiveWorks will help digitize the documents and enable automated processing.
A ChatGPT / Large Language Model based solution that leverages its language understanding, communication, problem-solving, and logical reasoning.
The solution automates the processing of inbound documents and ensures data integrity, eliminating the loss of valuable information.
Our solution will help reduce UW expense, reduce loss ratios, Improve processing throughput, Improve Underwriter efficiency, Increase speed to quote, improve premium adequacy and growth, help scale operations etc.
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Our solution is designed to accelerate your digital transformation journey.
Outcome based
Our pricing is outcome based. There is no upfront license fee and no implementation fees. We will do a time-boxed 2-week process analysis including current costs with the help of your subject matter expert(s).At the end of the analysis, we will give you a proposal that includes current workflow, new workflow with KognitiveWorks and evidence-based cost-benefit business case.
Faster implementation
Our aim is to digitize the initial set of documents within an 8-week timeline.At the end of a time-boxed 2 weeks of proccess analysis and document sample colection. We will present a comprehensive proposal, outlining a refined, automated process and potential cost savings.Upon approval, the first set of documents will go live within 4 weeks, ensuring a swift transition to optimized processes.
Fully managed
Once the document processing go-live we are commited to a best-in-class support of the solution with a customer-centric approach.Our ongoing support includes proactive monitoring, rapid issue resolution, regular updates, and performance optimization.We tie our success to yours, ensuring a seamless experience and mutual achievement of cost savings and efficiency gains.
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