- Most of the insurance claim documents are unstructured and non-searchable.
- Enterprise records are received in the form of paper, scanned images, emails, SFTPs, etc.
- Manual data entry and document conversion is a hectic process
- Employees handle the heavy burden of work, which results in slow-down of process
- Possibility of human errors
- Business organizations suffer technical issues due to interrupted workflows
- Delay in claim processing time
- Inefficiency in the manual data processing methods
Why should businesses choose the
- Automate the workflow and claims processing with AI-driven OCR technology
- Set workflow rules and capture the data using OCR accurately
- Convert the incoming content into high-definition PDFs
- Identify, extract and sort the policy details easily
- Transfer the policy data to your company’s online system directly
An insurance provider needs to reconcile the excel documents (about their customers’ premium payments) with bank statements (PDF attached in the emails), and then enter the approved payments in the ERP system daily. The whole process takes 1.5 hrs to 2 hrs per customer to execute manually.
Bautomate reconciles the excel files with bank statements. The payment gets verified and approved automatically. After the validation process, it enters information into the ERP system. The software eliminates human intervention and errors.
Insurance companies have hundreds of file cabinets containing customer information in the form of invoices, maintenance records, accounts receivables, and employee files. Maintaining and managing all the records was very difficult and presented potential security challenges.
- Millions of pages were unsearchable due to paper formats
- Customer inquiries could not be processed quickly due to manual content search
- Physical relocation was not possible due to the volume of documents
- Additional off-site storage of documents was expensive in terms of accessibility and cost
- Digitization was an urgent requirement due to the high expectations of new, tech-savvy workers
- Reduce manual labors and physical space drastically
- Remove data duplication by classifying the customer records properly
- Create the traceability reports which exposes the voucher numbers, invoice details, and date
- Deploy automation for highly efficient and accurate systems
- Better collaboration through digitization of records
- Provide quick responses for the customers
- Better clarity in terms of data and decision-making capability