KognitiveWorks addresses these challenges by harnessing the power of Generative AI (Gen AI) to automate and streamline submission processing. Unlike traditional OCR solutions, Gen AI goes beyond simple data extraction—it understands the context and nuances of the data within these varied documents, regardless of their format. The AI models can interpret and normalize information from diverse sources, automatically converting them into standardized formats that can be seamlessly integrated into the insurer’s systems.
• Unified Data Handling: Gen AI driven KognitiveWorks can process and harmonize data from forms, Statement of Values, Loss Runs, Schedules etc. Documents can be in PDF, Excel sheets, pictures and other document types. KognitiveWorks is able to extract relevant details such as coverage requirements, historical claims data, and asset schedules.
• Template agnostic: Seamlessly works on any format
• Contextual Understanding: The AI understands the intent behind the data, ensuring that even nuanced information, like special conditions or endorsements mentioned in loss runs, is accurately captured and interpreted.
• Data normalization: Standardising carrier/ MGAs / TPAs loss run terminology for seamless information consumption
• Next Best action integration: Once data is extracted and normalized, it is automatically fed into the insurer’s systems, enabling underwriters to access clean, organized data without manual intervention.
• Expert Review Platform
o Human in the loop to ensure 100% accuracy with our data review platform.
o Flagging system – that proactively identify inaccuracies with an intelligent flagging system.
o Edit inaccurate data and add missing information effortlessly without manual entry.
o Implement rules specific to your data requirements for accurate output.