Data Extraction

#ImagineaExtract

UNLOCK DATA EXCELLENCE

Improve data extraction accuracy
from Insurance documents

Say goodbye to manual data extraction. Our solution helps you accurately extract data from structured and unstructured insurance documents, to increase efficiency and drive end-to-end process automation.

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WHY AUTOMATE DATA EXTRACTION

Quick and accurate data extraction transforms
Insurance process efficiency

Insurance processes are plagued with manual and repetitive tasks such as data entry, classifying and sorting documents,
extracting information from multiple sources, etc. Skilled workers lose upto 40% of their time in such activities. The need for
intelligent data processing is on the rise especially in domains such as underwriting, claims automation and customer
engagement that are still technology-resistant. Our solution is built specifically for the Insurance industry, and uses OCR,
NLP combined with unsupervised Machine Learning (ML) models to extract data from different sources
such as documents, emails, images, etc.

Upto 98%

Data extraction accuracy

Our AI models are trained specifically for the Insurance industry resulting in better accuracy.

Upto 80%

Reduction in operational cost

Our easily repeatable solution patterns helped in minimizing cost and complexity of multiple insurance functions.

> 60-90%

Faster claims processing

We brought down claims processing time from 2 weeks to 2 days for a Pet Insurance company.

> 200x

Faster document processing

Our solution comes with cognitive capabilities to extract information from unstructured documents such as emails, images and scanned notes.

> 40%

Improvement in employee productivity

We help you automate manual data entry and repetitive tasks for better productivity.

> 3X

Availability of secondary data points

Our solution assists you in extracting secondary data points for deeper insights to detect frauds, and optimize claims and underwriting decisions.

OUR SOLUTION

Imaginea Extract

Imaginea Extract is an AI-powered data extraction solution that is built primarily for the Insurance industry.
With our solution, you can obtain, interpret, classify and analyze unstructured data from various claims,
quotes and policy documents with significant accuracy.

Extract information from various structured and unstructured data sources – emails, scanned files, images, texts, videos, PDFs, JPEGs, docs, etc.

Map data to ACORD Standards or legacy systems.

Improve the speed and accuracy of claims and risk assessment processes.

Identify more than 5000+ insurance-specific entities like coverage, premiums, terms, exclusions, deductibles, loss statements, etc. using various models.

Read and sort data automatically from various claims documents, policy records, invoices, KYC verifications, etc. for detailed analysis.

Feed information directly into any insurance workflow or system.

Streamline manual processes like document classification, indexing, data entry and customer onboarding.

Package data in any file format like XML, Word, JSON, Excel, CSV, CSIO, etc. into various agency management systems or broker management systems.

HOW IT WORKS

Automatically extract data from insurance documents

Extract relevant information from various structured and unstructured documents like emails, scanned files, images, texts, voice files, videos, handwritten documents, etc.

  • Policy level data extraction
  • Automatic data injection into workflows
  • Accurate extraction
  • Superior productivity
  • Context-aware nature

Categorize documents based on their content

Identify large consolidated files from various sources and separate them into categorized documents enabling users to easily rearrange pages, collate documents, remove unwanted pages and create document groups for easy entry into various downstream systems.

  • Classification of large volumes of documents
  • Unsupervised machine learning
  • Injection into workflows
  • Context-aware nature

Leverage real-time cross channel/ touchpoint monitoring

Listen to various data formats and extract data in real-time across customer touchpoints – emails, portal uploads, physical form submissions, etc.

  • Automatic reading of emails, routing to respective teams
  • Automatic extraction of information from email attachments, injecting the data into workflows
  • Reading and extracting data from customer uploads

Integrate the solution into existing workflows, tools

Our flexible solution works in tandem with your existing enterprise solutions and workflows. Easily integrate them using our robust APIs to empower data extraction capabilities in your existing applications.

  • Dynamic APIs
  • Integration with existing workflows/ applications/ tools
  • Pre-built integrations with popular application stacks

INDUSTRY REPORT

Unleashing the potential of cognitive
technologies in insurance

CUSTOMER STORIES

FAQs

1. What are the top benefits of Imaginea’s Extract?

In the Insurance industry, Underwriters and Insurers spend a significant amount of time in mundane tasks such as data entry, reading mails for information, etc. Imaginea Extract automates these tasks by extracting information from unstructured policy documents and automatically enters the details in the enterprise system. This results in productivity improvement of 30-40% and faster claims processing.

2. How is your solution different from other solutions available in the market?

Data extraction solutions available in the market are mostly trained on common linguistics. We understand Insurance specific terminologies, and our solution is built and trained specifically for the Insurance industry. Hence, our extraction accuracy fares better than other comparative solutions in the market.

3. How do you integrate with my existing enterprise systems?

Imaginea Extract comes with pre-built APIs and integration points that lets you integrate quickly with your existing systems.

4. Can you customize the solution to my needs?

Yes, we can customize the solution to suit your unique needs. The solution performance can be tuned considering the size of the documents, network bandwidth, OCR parsing techniques, complexity of the documents, etc.

5. Do you automatically migrate my existing data into your system?

We provide data migration services at a nominal initial fee.

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