Most insurers only capture 20% of the data in their documents. Think how far ahead you could get with technology, like CMR+, that processes so much more?
Insurance businesses and AntWorks CMR+ at a Glance
CMR+ is an advanced Intelligent Document Processing (IDP) solution that couples tried-and-tested Optical Character Recognition (OCR) technology with artificial intelligence (AI). It’s already being used with great success by major players in the insurance industry.
Traditional OCR can only process around 20% of the documents typically handled by carriers and brokers. In contrast, CMR+ uses more than 360 proprietary machine learning algorithms, based on fractal principles and that incorporate natural language processing (NLP) capabilities to read almost any document.
CMR+ ‘understands’ context and, through pattern recognition, can extract meaning from the full spectrum of ‘unstructured’ insurance documentation data such as policy documents, claims forms, emails, contracts, reports, tables and hand-filled forms, and including block and cursive handwriting, stamps, images and signatures.
AntWorks CMR+ excels in producing accurate results from hard-to-process documentation. CMR+ constantly learns and, while customers typically see value in 6-12 weeks, the system’s accuracy continues to improve over time.
CMR+ predicts with very high accuracy when a document needs manual intervention (e.g. poor quality scans, faded lettering, torn documents etc.) so that time is used most efficiently. Typical reductions in human processing time is in excess of 80%.
We believe that a simple head-to-head test with any other product in the market will show clearly that CMR+ offers a superior solution.