How to Prepare High-Quality Documentation for Claims and Underwriting: AI-Driven Automation

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min read

The back-office bottleneck

Getting in touch with your client or prospect is the first obvious step on the route towards high-quality and complete documentation. We talked about remote online inspections that make this essential step faster and easier in our previous blog post here: How to Deal with Inspection Faster: Go Online

Back-office overload
Back-office overload

Ok, so your operator has collected all papers and images during the online video session, made several highlights and notes right into them, and now what? The standard way is to send them to the back-office, where a little army of employees awaits for putting them into order.

They cut out the papers from scans, rotate them, classify them and rename them accordingly. All by hand, switching between several editing apps. It is a heavily repetitive, lengthy task prone to typos and mistakes. Well, if you even bother to do it, as some companies just let their people sail through the swamp of messy files on their own.

It's estimated that a large global insurer can spend around $125-$175 million and 4-6 million hours annually on manual document handling across multiple operational processes such as submission, booking and issuance, bordeaux management, FNOL, and investigation. AI at Scale: Transforming Insurance Operations, 2020

Forget the sluggish doc editing

InstaClaim does not stop with the online inspection. It is designed to serve you throughout the whole process, document management including. The repetitive editing tasks are done automatically by InstaClaim (crop, rotate, rename, categorize), so everything is neat and tidy, ready for your adjuster or underwriter.

Docs cropping and categorization done by AI
Docs cropping and categorization done by AI

Unlock data with artificial intelligence

The best feature of InstaClaim document management is mining. Most papers you collect from the client contain information that needs to be copied to an internal system or other forms, contracts, statements and so on. You do not have to bother your team or the client with that neither.

InstaClaim extracts relevant data such as personal ID, insurance ID, name, addresses, VIN code and many others. The list is growing as we continuously train InstaClaim to recognize new types of information.

Automated data extraction
Automated data extraction

Image mining for automated revision and segmentation

The mining is not limited to papers only. Photographs or videos captured during your online inspection (or obtained via other channels) represent a large portion of insurance documentation. A manual revision of these materials requires a well-trained employee and is time-consuming.

InstaClaim's image mining feature takes care of data extraction, such as vehicle registration plate. It is also able to check whether the car is captured from the required angles or whether you don't miss a particular photograph in the file (a windshield, for example).

Image mining of registration plate
Image mining of registration plate

If you wish, InstaClaim can also automatically find and highlight minor damages on the car or other property. So, you do not overlook them when assessing the risk during underwriting. Based on the range and type of damage, claims are segmented and handed to your specialists. Small claims can be sorted out by InstaClaim and settled right away without human intervention.

Claim segmentation
Claim segmentation

After all, InstaClaim is all about efficiency. By using AI-driven doc management, you can achieve 20x faster back-office functions.

In the next post of our InstaClaim Introductory Series, you will learn how to minimize your financial losses caused by fraud.

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