Improve Process Efficiency with IDP For Insurance
Harvest productivity gains within a few months with our meaning-based AI
Cortical.io AI solution for insurance extracts and classifies complex information from insurance policies and other insurance documents with a high level of accuracy, even when the text needs to be interpreted. Our IDP for insurance software enables the automation of traditionally labor-intensive document review processes like submissions intake, quoting, or claim validity checking.
The main difference with other Intelligent Document Processing software for insurance comes from Cortical.io proprietary methodology based on state-of-the-art AI and neurosciences.
We have already helped many insurance companies improve operational efficiency and reduce error rates through intelligent document automation – Why not you?
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Book a 30-min time slot to see how you can improve operational efficiency with our advanced AI solution for insurance
Our Customers
Why is Cortical.io AI Solution For Insurance Different?
Grouping of extractions
Cortical.io IDP solution extracts complex information from insurance plans and is able to group extractions, for example by employee class or service-type in dental plans.
Interpretation of provisions (inferences)
Inferences are a way to interpret and categorize extracted data. Disability insurance policies, for example, contain beneficiary and funding method provisions that must be matched to the correct option from among multiple possibilities. Using meaning-based interpretation, our AI solution is able to correctly interpret the phrases “you do not pay for the cost of coverage” as “100% employer-paid” (funding method) and “you, your spouse or children” as “family” (beneficiary), respectively.
Business rules for automated decision making
Our AI solution for insurance offers the possibility to define custom business rules and apply them to the extracted information. For example, our AI software can identify the best plan matching a competitor’s offer and pre-fill the appropriate quote template with the extracted information. The transparent scoring system enables full explainability of results.
Complex table extractions & mapping tables
Insurance policy documents typically organize policy details about coverage, benefit amounts, exclusions and more into tables with multiple columns and rows that are often visually stylized. Cortical.io utilizes robust OCR to cleanly and accurately parse the text from these tables and render the data for easy annotation and extraction. Our IDP solution for insurance can also generate mapping tables in order to map the column values between different tables.
Comparison by extractions
With our AI solution, you can compare documents on the basis of the extractions, instead of the whole document: either via a redline of the extracted provisions, or via a similarity score that tells the similarity of two provisions based on their meaning.
Meaning-based search
Our IDP software uses meaning-based search that distinguishes context and relationships between words and phrases that keyword-based search engines simply can’t achieve. For users, this means faster search times and more accurate results.
No code platform, specially built for business users
Business users define extraction targets and inferences, upload documents and start training the system to automatically perform extractions without the need or cost of an AI expert. The visual output can be customized to match the required input for a given quoting tool, for example.
Schedule Now a Short Demo!
Book a 30-min time slot to see how you can improve operational efficiency with our advanced AI solution for insurance