Intelligent Document/Content Processing with Gen AI for Insurance

The Insurance industry faces a new future. Digitalization, competitiveness and customer expectations are converging to create an environment where the pace and precision of decisions will be key to success. However, Insurance is document-heavy — valuable data points are often scattered across systems, hard to access. By unlocking the insights held in those documents it’s possible to transform the accuracy and speed of operations, to drive improvements in areas such as: • Claims processing • Claims adjudication • Document digitization • Accurate underwriting • Fraud detection & prevention • Competitive premiums • Invoice extraction and validation • Policy matching The challenge, however, often lies in how to access, extract and uncover the value from data and documents quickly and effectively. Intelligent Document Processing offers insurers a better way to turn raw documents into business insights, using AI and Machine Learning. This enables business data to be processed and put to work faster, with minimal need for manual intervention.

At Cognizant we have developed our Intelligent Document Processing solution for Insurance, built on leading technology from Amazon Web Services (AWS) including Amazon Bedrock, to speed up operational processes, improve accuracy and reduce the need for manual input. As part of our solution, our team of consultants and SMEs will deploy our accelerator, and bring a balanced, integrated approach that combines Generative AI, Machine Learning and non-ML heuristics, always choosing the right tool for the job. This, combined with their deep understanding of different model types and how they complement each other, gives our solution the edge in terms of the content it can handle and the accuracy that can be achieved.

Our team and our approach enable us to quickly prove the feasibility and business case based upon a sub-set of your own documents. We can then support every step of the build process, through to testing and productionisation. The ultimate goal is to enable actionable insights and automate insurance processes at scale. By accelerating manual data extraction, our Intelligent Document Processing solution can help you get insight from your documents faster.