How intelligent document processing is driving insurance modernization
Explore how IDP is reshaping the policyholder life cycle.
Unstructured data is a headache for insurers. It’s also a barrier to modernization and profitability.
Intelligent document processing (IDP) — which uses advanced technologies such as AI and machine learning to automate document handling and the extraction of key data — can unlock insights and drive insurance modernization.
This webinar, hosted by Digital Insurance and sponsored by Hyland and Doculabs, explores how IDP is reshaping the policyholder life cycle. You’ll learn:
- How AI accelerates and simplifies data and document capture
- Methods to classify and integrate unstructured data into core systems for actionable insights
- Proven approaches to modernize document-intensive processes
- Key signs your organization is ready for IDP
- IDP use cases that can enhance insurance operations
Organizational disruptions in the insurance industry
Even as technology advances, the insurance industry often gets bogged down by inefficient workflows.
- Manual processes are time-consuming, costly and error-prone.
- Disconnected or missing data negatively impacts operational insights, which, in turn, affects decision-making.
- Slow businesses processes lead to customer frustration and bring down the bottom line.
Outdated technology, poor customer experiences and costly support are among the leading reasons insurers are deciding that now is the time to modernize.
New world of AI and intelligent automation
In a recent Forrester Consulting study commissioned by Hyland — Transforming Processes and Experiences with Content, Automation and AI — technology decision-makers indicated that intelligent automation was generating significant benefits.
- 76% said the technology improved customer experiences
- 69% said employee productivity improved
- 63% cited better employee experiences
- 61% experienced increases in operational efficiency and effectiveness
With IDP, insurers can leverage AI and machine learning to automate processes, producing gains across the enterprise.
A closer look at Hyland IDP
The webinar also examines key features of Hyland IDP, including:
- Multichannel capture
- Optical character recognition
- Document separation
- Classification
- Extraction
- Validation
Speakers
- Steve Comer, AVP, financial services and insurance, Hyland
- Craig Deckelman, solution engineer, Hyland
- Rich Medina, co-founder, Doculabs
