Loan Insurance Tracking System

Solution

Our Implemented Solution:

Introducing our flagship product, the Dociphi Loan Insurance Tracking system, a cutting-edge AI-powered Intelligent Document Management Platform engineered to revolutionize the management of insurance coverage for loan portfolios. Harnessing the power of artificial intelligence and automation, this solution provides a centralized platform for tracking, verifying, and managing insurance policies associated with loans.

Key Features :

  • Centralized Dashboard: Gain instant access to a centralized dashboard offering real-time visibility into insurance coverage status across the entire loan portfolio. Monitor policy expiration dates, coverage amounts, and borrower information effortlessly.
  • Automatic Monitoring: Receive automated reminders and email notifications prompting borrowers and agents to renew documents, ensuring timely compliance.
  • Document Ingestion: Seamlessly ingest documents from a variety of sources, including insurance declarations, ACORD forms, flood searches, appraisals, and mortgage deeds of trust.
  • Entity Extraction and Approval: Enable users to review and approve extracted entities from documents, ensuring adherence to compliance standards.
  • Customizable Rules Engine: Configure bespoke rules and workflows tailored to specific business requirements and regulatory standards. Define rules based on entity fields, conditions, and values.
  • Customer/Agent Portal: Access a secure portal for borrowers and agents, facilitating the tracking of policy statuses, receiving notifications, and addressing non-compliant issues.
  • Reporting Features: Generate detailed reports on policy expiry, insured names and addresses, compliance metrics and status, providing valuable insights for decision-making and demonstrating the impact of the solution.
  • FEMA Map Integration: Integrate FEMA maps as a map tile overlay on Google Maps to show flood zone risks, providing a visual representation of potential flood risks for properties.
  • Integration with Customer Data Systems: Seamlessly integrate with customer data systems for the ingestion and transfer of data, ensuring a comprehensive and accurate book of records.

Results

  • Reduced Risk Exposure: Accurate tracking and verification of insurance policies significantly reduce risk exposure in underwriting.
  • Minimized Policy Lapses: Timely policy renewals and updates minimize the risk of lapses, ensuring continuous coverage.
  • Streamlined Workflows: Automation of manual processes has streamlined workflows, reducing the effort required by loan reviewers and increasing operational efficiency.
  • Enhanced Regulatory Compliance: The automated system ensures compliance with government regulations, avoiding penalties and ensuring adherence to industry standards.
  • Monetary Benefits: By reducing risk in underwriting and avoiding penalties for non-compliance, the bank realizes significant monetary benefits.
  • Improved Customer Engagement: Regular notices and timely communication with customers have improved engagement and satisfaction.
  • Impactful Reporting: Advanced reporting features provide insights into compliance status and risk levels, helping the bank make informed decisions and demonstrate regulatory adherence.
  • Data Security: Robust data privacy and security measures ensure the protection of sensitive customer information, fostering trust and compliance with data protection laws.

Elevating Patient Experience with Gen AI-based Virtual Agent

Solution

  • Trained on five key intents for patient authentication and intelligent call routing for five departments
  • Configured with SendBird Chat Widget and Dialogflow telephony gateway for accessibility via chat and call
  • Untrained queries routed to Dialogflow telephony gateway with transcripts stored in Firestore database
  • Configured Agent Assist for real-time transcription between live agents and patients post-handover from Dialogflow CX agent
  • Integrated Dialogflow CX agent with client’s database via REST APIs to fetch patient medical history
  • Enabled Gen AI capabilities in Dialogflow CX to respond to FAQ-based queries from the client’s Knowledge Base

Results

  • Leveraged Google Cloud’s generative AI capabilities to enhance the customer’s chatbots, enabling accurate and efficient responses to patient queries.

End to End Automation of Insurance Policy Creation

Solution

Policy Creation :

  • Assist in lead generation by automating client/broker document ingestion via e-mail, classification and data extraction
  • Automatically generates a quote and shares it with Client/Broker for approval
  • Underwriting workbench for faster time to quote and ability to alter/modify premium rating
  • Policy creation and issuance after quote acceptance

Certificates and endorsements :

  • Real time ingestion of client documents followed by automated rule based underwriter review
  • Intelligent rule based endorsement creation by Sales, Underwriters and Operations

Claims Processing :

  • Monitor mail inbox for claim request rule based automated review of claims approval and closure

Results

  • Reduction in Manual Efforts
  • Gain Operational Efficency
  • Faster Time to Quote

Gen AI-assisted Contract Comparison for an Actuarial Firm

Solution

  • Developed an LLM-based chatbot to address insurance-related queries for actuaries associated with the customer
  • Established a continuous integration and continuous deployment (CI/CD) pipeline to automate data ingestion
  • Improved user interaction through functionalities like multi-state response generation, user authentication, and a metrics analysis dashboard

Results

  • The LLM-based AI assistant tracks user chat history, allowing easy access during sessions
  • The admin page displays KPIs for cost and query count, and lets users save feedback on responses

Refuelling Revolution: ML-based Predictive Analytics for Car IQ

Solution

  • Quantiphi identified pivotal factors impacting transaction events by leveraging the client’s data. Through meticulous data transformations and engineering, Quantiphi crafted a machine learning model using Vertex AI, predicting the probability of drivers refueling across various timeframes
  • A recommendation model was developed by Quantiphi to propose the closest viable fuel station for vehicles anticipated to engage in a transaction
  • A robust MLOps pipeline was swiftly developed by Quantiphi using Vertex AI, meeting accelerated timelines
  • Additionally, insights into data and model performance, along with output visualization, were provided through Looker Studio

Results

  • Quantiphi developed an ML model with integrated MLOps pipelines, achieving a F1 Score of 70-80% in predicting transaction events
  • The Car IQ team was equipped with Looker Studio Dashboards by Quantiphi, facilitating a comprehensive assessment of model results

“Car IQ benefited a lot from Quantiphi’s expertise in delivering Gen AI and Predictive Analytics solutions. They helped accelerate our timelines to market and understand industry best practices. The Quantiphi team was highly proficient, flexible and professional which made working with them a seamless experience for us.”

Khalid El-Awady, Chief Product Officer, Car IQ

Unleashing Operational Efficiency at Car IQ with Google Cloud LLM-driven Intelligent AI Assistant

Solution

  • Quantiphi delivered a fully operational chatbot, leveraging Car IQ’s knowledge base – facilitating the retrieval of answers to user queries
  • A UI with feedback feature was seamlessly integrated into the chatbot, empowering Car IQ to provide input on the chatbot’s responses
  • These feedback entries were automatically stored in a database, contributing to ongoing enhancements in solution performance
  • The solution’s automation was achieved through Vertex AI pipelines, allowing the Car IQ team to efficiently update the knowledge base in under 10 minutes by creating a new pipeline run, ensuring swift and effective knowledge base updates

Results

Car IQ benefited from the creation of a reliable chatbot UI using Google Cloud LLM models, facilitating seamless access to answers from their internal knowledge base

“Car IQ benefited a lot from Quantiphi’s expertise in delivering Gen AI and Predictive Analytics solutions. They helped accelerate our timelines to market and understand industry best practices. The Quantiphi team was highly proficient, flexible and professional which made working with them a seamless experience for us.”

Khalid El-Awady, Chief Product Officer, Car IQ

US State Supreme Court accelerates case document analytics and reporting with Intelligent Document Processing

Solution

Quantiphi utilized QDox, its intelligent document processing solution powered by AWS, to digitize, classify, and extract key information from over 500,000 civil documents, including petitions, judgments, and cover sheets. Through a human-in-the-loop review process, Quantiphi ensured 100% extraction accuracy

Results

  • Automated document classification for Cover Sheets, Petitions and Judgements
  • Automated extraction of 8 essential data points from case files for courts, parishes, titles etc across printed as well as hand written texts
  • Digitized over 500,000 court documents

Transforming Citizen Experience with Generative AI-based Query Resolution

Solution

  • Implemented a generative AI-powered virtual agent for resolving queries across 40 internal departments, covering areas such as employment opportunities, foster care and adoption, housing, and the Department of Motor Vehicles
  • Enhanced visibility into agent performance through the creation of a virtual agent analytics dashboard on Looker, facilitating the extraction of actionable insights
  • Leveraged generative AI capabilities to enable the virtual agent to address queries using information from anywhere on the Sullivan website, which comprised over 6.3k URLs
  • Elevated constituent experience by enhancing the functionality of the existing chat widget to support session restarts and timeouts
  • Employed custom generators to refine virtual agent responses, ensuring accurate handling of outdated or incorrect information

Results

  • Reduced response times, enhanced citizen engagement, and provided accurate information, resulting in increased efficiency across the agency’s communication channels
  • The agency expressed satisfaction with the chatbot’s performance, acknowledging its positive impact on citizen engagement

“Quantiphi has been a key partner in our effort to Institute this new chatbot on the Sullivan County website. The team right down to a person was always very responsive & very prompt. We have debuted cutting-edge technology that has improved the lives of the people we serve and has certainly made the workflow of our staff more efficient.”

Dan Hust, Director of Communications, Sullivan County

Optimizing Nurse Scheduling with Predictive AI

Solution

  • Quantiphi enhanced the client’s nurse assignment workflow by replacing their slow, manual process with a modern, data-driven, AI-powered nurse scheduling tool. This tool aids charge nurses in distributing patients more fairly and efficiently.
  • The tool performs ingestion and harmonization of source data from four distict source systems including standardization of over 10 million HL7v2 messages.
  • The Web UI of the tool aggregates all necessary data, creates visualizations, and facilitates informed scheduling decisions, matching patient workload with nurse demand.

Results

  • Optimized resource allocation for peak efficiency is provided by our AI-powered nurse scheduling tool.
  • Improved agility in staffing is achieved through a data-driven and dynamic approach that enhances speed and accuracy over time according to demand.
  • Real-time data empowers frontline workers with informed decisions, skill-aligned resource placement, and consolidated inputs on common screens for streamlined operations.
  • Elevated patient care through fair workload distribution, staffing alignment, and enhanced nurse satisfaction.
  • Greater value realization is achieved through accurate information centralized in one source, easing labor challenges and enhancing operational efficiency.

“A new nurse on a hospital unit was overwhelmed due to a significantly higher patient load compared to her colleagues. The implementation of the AI-powered nurse scheduling tool identified this disparity during her shift, allowing for adjustments to be made. The nurse’s subsequent statement, “It made my voice heard, and my shift manageable,” underscores the value of the tool in addressing workload inequities and improving nurse well-being.”

Automating Medical Claims Processing for a Leading Broker

Solution

Dociphi, Quantiphi’s AI-powered intelligent document processing platform, transformed claims processing, by eliminating the need for the reviewer to manually process each and every claim document

  • Dociphi seamlessly ingested and classified invoices and medical records, used proprietary best-in-class machine learning models to extract information from a wide range of document formats and templates, even from handwritten documents
  • Dociphi’s proprietory models intelligently mapped the Macro Guarantees and ICD codes to each claim submission based on extracted data from the documents such as diagnosis, medical test, body part, etc
  • With Dociphi’s smart comparison screens to compare the extracted data from docs with system data and highlight all the discrepancies, reviewers can close claims faster.

Results

  • Creation of a comprehensive AI-driven claims processing workflow, that supports data extraction from complex tables & hierarchical data
  • ML Powered ICD and Macro Guarantee mapping
  • Improved claims handling efficiency for accelerated claims turnaround time
  • Reduction of manual efforts for claim adjusters thereby reducing operational cost