Elevating Insurance Customer Experiences with Intelligent Document Processing
What makes IDP indispensable in this industry is that leaders are often bogged down with vast volumes of documents and information locked away in inaccessible formats. To make strategic business decisions and improve customer-facing processes, they need reliable access to this unstructured data. Manual attempts at finding and utilizing data are laborious and expensive.
AI-Driven IDP is a cost-effective, scalable way to capture data from multiple sources and transform it, so a person or team has the clout to elevate customer experiences.
Unstructured Data is a Burden
What Role Does IDP Play in Customer Satisfaction?
Health insurance companies are averaging a 19.3% error rate, up 2% from the previous year. The AMA estimates this increase in inaccurate claim payments will cost the healthcare industry an additional $1.5 billion in needless administrative expenses this year alone.- AMA’s Health Insurer Report Card
A Field of Obstacles
Document Transformation Fuels Intelligent Document Processing (IDP)
Adlib's IDP vision is a scalable platform that leverages artificial intelligence (AI), machine learning (ML), and natural language processing (NLP). It elaborates on IDP with discovery analysis, duplicate detection and removal, more advanced classification, and other capabilities like signature detection. The platform will review, sort, filter, validate, classify content, and deliver it to multiple ecosystems, including CLM, RPA systems, BPOs, Data Lakes, Insight Engines, and Content Services.- Sriram Parthasarathy, Adlib's Chief Product Officer