Increase the accuracy of your quoting process
with our AI-based contract analytics
Accurately extract information from prior carrier plans & benefits booklets
Automatically interpret provisions like a subject matter expert
Reduce extraction and review time for quote specialists
Search and compare documents based on meaning, not keywords
Export information to quoting tools, CRM systems and BI tools
Quick training, no AI expertise required, fast time to results
How Cortical.io improves the quoting workflow – Watch a 2-minute video
How does Contract Intelligence help?
Many insurance companies face challenges when it comes to handling paperwork including submissions, quotes and loss run reports. The unstructured nature of the data, and the sheer volume of content make it tedious and time-consuming to process manually. Mistakes, whether human or as the result of legacy solutions that aren’t designed for the task, can be frequent and costly.
With Contract Intelligence, Cortical.io helps large companies improve the efficiency of their document processing. The patented, meaning-based natural language understanding method enables high levels of accuracy extracting and classifying terms and provisions. Contract Intelligence also automatically provides interpretations of those terms and provisions. All while automating and expediting lengthy, labor-intensive workflows that are typical for the insurance industry.
What is the Difference with other Contract Review Software?
Meaning-based extractions, search and comparison
The system understands concepts, instead of just keywords, for example descriptions of dates (“not later than ten business days after demand therefore”) or amounts (“equal to three percent (3%) of the shareholders’ equity of XY corporation”)
Built for subject matter experts
SMEs define extraction targets and inferences, upload documents and start the training system to automatically perform extractions without the need or cost of an AI expert
Little training material required
The system can be trained by SMEs starting with as few as 100 documents. Once the SMEs have defined custom extraction targets and annotated a few documents, they can train the system to automatically perform the extractions. SMEs also have the ability to review results and can continue to fine tune the system as part of a continuous learning process.
Inferences & classification of provisions
The system can interpret provisions and classify clauses, even when the formulation differs. For example, the solution uses inferences to classify a provision as either (1) standard, (2) negotiated or (3) needs review
Sophisticated table extraction
The solution is able to parse and extract information from tables regardless of the row/column format in the PDF document
Built-in OCR capabilities
The system detects scanned pdf files and converts them into machine-readable files capable of being annotated
Contract Intelligence & its Use Cases
Cortical.io Contract Intelligence is used by Fortune 500 companies across multiple industries to solve different kinds of challenges.
How a Fortune 500 insurance company implemented Cortical.io Contract Intelligence to increase the efficiency of its quoting workflow.
Book your free demo today
Learn how Contract Intelligence can help you save time and money
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