Solution
Dociphi, Quantiphi’s AI-powered Intelligent Document Management Platform, assists the brokers by automating the entire policy review process and eliminating the need for the brokers to manually process documents.
- Dociphi seamlessly ingests and classifies numerous policy documents, quotes and binders of various formats and uses highly accurate ML models to extract data from multiple fields, key values, tables, hierarchical and contextual data
- Dociphi then compares the extracted data from the old policy, new policy and binder documents and highlights all the changes across all three documents, and provides the output in a format compatible with the downstream system
- Dociphi seamlessly integrates with input channels of incoming documents and pushes data in the required formats to customer systems/cores
Impact Details
- ~95% classification, extraction, and comparison accuracy across target carriers and ~86% extraction and comparison accuracy for non-target carriers
- ~67% out-of-the-box time/effort reduction per review
- Scalability of the solution to all countries/geographies where the broker operates
- Seamless integration to downstream low-code/no-code applications. Outputs published in formats required by the business
- Less than 4 weeks time to market/value creation
- Significant reduction in the cost of operation
- Intuitive User Interface for Human in the loop reviews enables quick user onboarding onto the platform
