Insurance Policy OCR
How To Extract Data From Insurance Policies Using KlearStack
Leverage KlearStack AI to extract, interpret, classify, and analyze any unstructured data from insurance document policies, policy declaration forms, accord forms, claims, invoices, pdfs, images, etc. with superior accuracy and 500x faster than a human. With KlearStack’s AI-powered insurance policy OCR, save time and increase efficiency in your policy management workflows.
Challenges of Data Capture from Insurance Policies
PRE-TRAINED INSURANCE APIS AND CUSTOM MODELS
Transforming Insurance Policy Management
with KlearStack's AI-powered Insurance Policy OCR Solution
99% Accurate Data Extraction
Day Zero Accuracy
The advanced machine learning and artificial intelligence algorithms of KlearStack’s solution enable it to understand and learn from the unique data points of each Insurance Policy document, resulting in highly accurate data extraction on day zero itself. Day Zero Accuracy not only saves time but also prevents costly errors and reduces the need for manual intervention. With KlearStack’s Insurance Policy OCR solution, users can trust that their data is accurate and reliable from the very first day.
End-to-end document processing
Straight through Processing
Straight Through Processing (STP) is a game-changer for insurance companies as it reduces processing time, minimizes errors, and improves efficiency. KlearStack’s Automated Insurance Policy Processing solution offers Straight Through Processing capabilities, enabling businesses to achieve faster turnaround times and increased productivity. With KlearStack’s advanced AI and Machine Learning algorithms, the system can automatically extract data from various documents, including insurance policies, with high accuracy and efficiency.
Data extraction and Validation
Document and Third-Party Verification
Insurance claims must be verified from multiple sources by fetching relevant documents. Insurance companies can use RPA bots to fetch third-party information via document chasing. KlearStack IDP solution can auto-read the same, process and classify them. Moreover, insurance companies can verify information on licenses, registrations, etc., by extracting data from them using KlearStack AI. The extracted information can conduct third-party verification from databases and public websites.
Klearstack makes it easy for businesses to integrate its software into their existing workflows. With KlearStack’s seamless integration capabilities, businesses can streamline their insurance policy processing workflows and eliminate the need for manual data entry. KlearStack can integrate with various ERPs, CRMs using APIs, making it easy for businesses to leverage the power of KlearStack’s advanced features without any hassle.
Cloud & On-Prem Support
KlearStack provides both cloud and on-premises support to businesses looking to automate their insurance policy workflows. With cloud support, businesses can leverage KlearStack’s fully managed service, while on-premises support enables businesses to utilize KlearStack’s powerful document processing capabilities. This flexibility allows businesses to choose the deployment option that best suits their unique requirements without the need for additional infrastructure or resources.
Frequently Asked Questions
KlearStack uses machine learning algorithms and natural language processing to recognize and extract data from documents. It also employs a three-way match system to ensure that the data extracted from an insurance policy document or other document matches information from other sources like purchase orders and delivery receipts. In addition, the software can be trained to recognize specific fields and document types, increasing the accuracy of data extraction over time.
Yes, KlearStack can be easily integrated with other software applications through its APIs (Application Programming Interfaces). This allows for seamless data transfer between KlearStack and other systems like ERP software, accounting software, and more.
Yes, KlearStack is suitable for businesses of all sizes, from small startups to large corporations. The software can be customized to meet the specific needs of each business and can scale as the business grows and changes.
KlearStack takes document security seriously and uses industry-standard encryption protocols to transmit data between the software and the user’s systems. The software also complies with data privacy regulations like GDPR and CCPA and limits access to data to essential personnel only.
KlearStack offers a variety of support options for users, including email support, phone support, and a knowledge base with helpful articles and tutorials. Additionally, the software can be customized to meet the specific needs of each business and can scale as the business grows and changes.