Acord Form & other unique document types data extraction by using Intelligent Document Understanding functionality.
Extracting varied data from different types of documents is a key challenge and a monotonous time-consuming activity for insurers, as the pattern and format of such documents appear unique, which is a cumbersome task of not being able to extract the data from these documents quickly. The documents that need to be processed are either structured, unstructured, and semi-structured Acord forms, schedules, loss runs and so on.
Since the amount of data to be extracted from these set of documents is varied, it becomes a difficult task to understand the importance of data to be extracted as well as to process multiple documents in a single go that are typically received as email attachments during a new business submission or claims intake process.
This solution is useful for extracting these unique data from multiple document types and formats that may be printed, scanned images or hand-written. By using the intelligent document understanding functionality, it becomes simpler to identify and understand the data elements and data types that need to be extracted from different intake document types.