The digitalization of the insurance industry has exponentially increased the amount of data available to companies. When used properly, the data provides valuable insights, improves the customer experience, and provides a competitive advantage. However, effective data collection and analysis is laborious and time-consuming.
Intelligent document processing (IDP) reshapes the way insurance analytics is conducted. It accelerates the extraction of data from large volumes of data and improves accuracy to gather meaningful insights and inform critical decisions.
Improve the digital experience
Our client is an independent software vendor that provides an AI-driven online platform for personal and financial health management. They wanted to enhance the digital experience for life insurance clients by providing personalized insights and analytics.
Integrating advanced analytics provides customers with tailored recommendations from diverse insurance providers. It simplifies the decision-making process and fosters financial security.
Harness the power of AI
SoftServe leveraged cutting-edge machine learning (ML), computer vision (CV), and natural language processing (NLP) techniques to implement an IDP solution that seamlessly extracts and compares data points from various types and formats of documents.
This AI technology enabled the client to:
- Adapt quickly to new document types with minimal examples
- Provide a UI and analytics layer for structured document comparison
- Combine visual and language patterns for comprehensive document understanding
Power analytics and CX
SoftServe introduced a multifaceted approach to insurance analytics that streamlines data extraction, offering users a suite of visual and compliant tools. By seamlessly integrating these tools, businesses can make informed decisions and cultivate strong partnerships.
Beyond analytics, we modernized the insurance purchase journey, digitally transforming customer interactions from inquiry to policy issuance. This streamlined process enhances efficiency and tailors the experience to individual needs, providing a focus on data-driven insights and customer engagement.
SoftServe facilitates your IDP journey by employing the capabilities of cloud services, leveraging pre-trained parsers, deploying custom machine learning models for intricate and unstructured data parsing, and developing advanced tools for extracting high-maturity data types.
Let’s talk about how SoftServe addresses complex processing tasks to meet your document processing needs and enhance analytics that drive the customer experience.