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Business Impact

  • Cost and Manual Effort Reduction

  • 95%+

    Accuracy in Data Extraction

  • Superior User Experience

Customer Key Facts

  • Location : North America
  • Industry : Insurance

Problem Context

The customer is a US-based specialty insurance company that receives various submissions with ACORD forms which requires the underwriting operations team to manually extract data from various forms to check for inconsistencies.

Challenges

 

  • Variation in the template framework of different forms
  • Verification of fields such as account name and address, producer, and product information

Solution

Quantiphi built an automated document processing solution to extract information from ACORD forms and check the accuracy of the extracted information using business logic and third-party data.

Results

An automated document processing solution, which could extract information from any type of ACORD form and a processing pipeline to check the accuracy of the information presented in the form using business logic and third party data

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