Future Proof Insurance Document Processes
Simplify manual insurance document processes with Smart AI-enhanced Nanonets OCR API. Scan, extract, analyze and integrate your documents in real-time.
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Drive Results that speak for themselves
Here is a snapshot of the performance gain of our customers after using Nanonets for less than 3 months.
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Expatrio achieves 95% reduction in time for Manual Data Entry with Nanonets OCR
I would recommend Nanonets to companies who need an accurate and well functioning Passport OCR solution with great support, reasonable pricing, and flexible plans.
“Working with Nanonets has been super fluid. NanoNets helped us deploy the data capture workflow with Quickbooks in < 7 days from the contract signing date. This has directly impacted the finance team, who can now process 50% more invoices at the same time without hiring more people.”
Streamline Insurance Processes
Process Insurance Documents in a beat!
Capture, Extract and Analyze data from important insurance documents while verifying all customer credentials against your database. Introduce speed, efficiency and accuracy to your insurance document processes.
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Get error free performance, everytime!
Manual Data process are time consuming and often prone to human errors. Use Nanonets to extract required/selective information from your documents and pass it to database of your choice.
Ensure Compliance in every action
Create custom rules for your processes and change rules to improve accuracy on the go. Nanonets maintains a complete log of all activities for audit requirements.
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Solve Customer Queries on the go
Don’t make the customers wait. Let Nanonets handle all the grunt work of scanning, extracting data and updating database for you while you focus on providing great customer service.
Focus on your business, we take care of the data processing
Streamline document processing of all your banking documents with ease
Redefine Insurance Experiences With Nanonets
Train Custom AI models or used pre-defined models to process insurance documents at lightning speed.
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Can’t see the document you need?
Get in touch with our experts and we’ll customise a solution for your business.
Benefits from Nanonets OCR vs Traditional OCR
Frequently Asked Questions
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Insurance automation is the use of technology like Artificial Intelligence, Machine learning, Robotic process automation, intelligent automation, and more, to drive high profits, transform insurance metrics, improve the performance of the insurance processes, reduce the customer turnaround time, enhance security and eliminate manual data entry.
Using insurance automation software, insurance companies can move from being proactive to a customer-obsessed model.
RPA in insurance is using automated rule-based workflows and bots to eliminate manual data entry, verification, validation, approval, and data storage tasks. Robotic process automation can be used to process customer information, extract data from scanned documents,
Robotic process automation can be used to automate various aspects of insurance. Some of these insurance automation use cases are mentioned below:
Underwriting & Pricing
Insurance automation software can collect complex data from various sources, identify fraud, estimate the loss, update data fields on customer profiles and provide a correct estimate of underwriting.
Regulatory Compliance
An insurance automation platform can ensure high accuracy of data, maintenance of changelogs, a complete library of data entries, and generate automated regulatory reports for stakeholders.
Call Center Support
RPA insurance automation bots can be trained to interact with customers 24x7 and guide a customer to self-serve resolution articles and collect customer information for agents to review afterward.
Form registration
When optical character recognition (OCR) and RPA are integrated, insurers may automatically understand the text from registration forms and direct the information to the necessary workstreams. As a result, insurance claims are processed 40% faster and with 0 error.
Administration of Insurance policies
RPA systems can analyze customer emails and classify the content using various RPA systems can classify customer emails using deep learning, computational linguistics, sophisticated OCR, and analytics.
Policy Cancellation
Policy cancellation involves performing multiple checks like tallying inception date, and cancellation dates, checking all policy terms, and providing cancellation confirmation to customers. RPA bots can be trained on custom rules to carry out the policy cancellation process smoothly.
Insurance companies can use Artificial intelligence for many use cases like improving security and compliance, optimizing customer onboarding, improving performance metrics, automating manual tasks like form registration, identity document verification, KYC verification, and more.
Check out our article on Insurance Automation.
The rising costs to serve, the growing regulations, and the increasing competition put a lot of pressure on the industry and will increase the adoption rate of technology in insurance. The future of insurance industry is moving towards intelligent insurance automation. Read more.
Insurance automation can be beneficial for insurers in the long run as it reduces costs to serve, improves margins, increases data protection, enhances security, reduces turn around time, optimizes resource utilization and improves the visibility of financial data across the organization.
- Data Protection
Insurance is much documentation in closed cabins. By automating end-to-end forms, you'll be able to secure your client information and decrease the mistakes in data entry. Monitoring becomes simple and effective. - Faster decision-making
Intelligent Automation coordinates work between robots, individuals, and frameworks. This makes a difference to speed up your end-to-end preparation and make changes to your trade needs. - Resource allocation
As insurance automation takes over numerous labor-intensive assignments, high-skilled employees' mastery can be utilized in other high-value decision-making parts.