Digitizing the Insurance Industry with OCR for better Claiming
OCR Solution enables insurers to take a new step towards convenience and digitize documents with better accuracy than data entry.
Insurance companies are always looking for ways to improve margins and profitability without sacrificing customer service. OCR enables enterprises to lower their costs by eliminating manual steps in their data capture methods and reducing errors and omissions.
Claims are incredibly crucial to both insurers and consumers. Consumers expect clear communications and fast resolutions, while insurers are looking for accurate and efficient ways to eliminate the risk of fraud or litigation. When the claim process fails, consumer satisfaction falls, and costs of insurance go up. Digitization and data capture has been a key factor in reducing issues for all parties.
KTECH provides OCR Solutions that benefit you from errors and mistakes prone manual systems and saves you from the results that will cost the business money. Our OCR Solutions are designed for Insurance Companies to rescue from the document-driven process.
OCR benefits the insurers to provide better customer service, reducing costly manual data entry by more than 80%.
Improves customer service
Helps attract more clients
Enables more accurate predictions
Areas where OCR can be used In the Insurance industry
OCR enables automated document onboarding, document sorting, and makes all workflows more efficient and effective without errors or delays in processing documents.
Any input source (mobile, scanner, email)
OCR software could transcribe the letters on the documents into digital text
Classification and Data Extraction
OCR helps extract text data to classify receipts and extract specific data points
Structured or unstructured forms
OCR to help you manage your structured and unstructured forms and gives you the flexibility of being able to process different types of forms with confidence
Transform your Insurance claim process
Identify process bottlenecks, automate document handling, and make your customers smile.
Optical Character Recognition (OCR) technology is critical to the ongoing digital transformation of the insurance industry. Applying OCR to solve issues of customers' insurance claims helps reduce the workload for employees and increases accuracy significantly, which a human employee cannot complete within seconds.
It enables automated document onboarding, sorting, and analysis, and makes all business workflows—from the insurance claim process to product development to customer service—more efficient and effective.
Contact us today to Innovate your Insurance Company back-office & claim document processing with KTECH's smart OCR Solutions.