Insurance application extraction is the process of extracting information from an insurance application form and entering it into a database or other system. Most of the organization does this process manually. Manual extraction involves a person reading the application form and entering the data into a system. This can be a time-consuming process, but it is necessary to ensure accuracy.

Insurance Application Analysis and Extraction solution is developed using Coforge's powerful accelerator Quasar AI. This solution helps insurance companies automate the process of extracting data from insurance applications. Solution scans the application form, performs layout analysis and extract the relevant information. This solution uses advanced machine learning algorithms to quickly and accurately extract key information from applications, such as customer details, policy details, and other related information. With this solution, insurance companies can quickly process applications and make decisions faster, reducing the time and cost associated with manual data entry. Additionally, this solution provides enhanced security and compliance with industry standards, ensuring the accuracy and integrity of the extracted data.

The user interface is intuitive and provides a simple and effective way to edit and validate extracted data with minimal effort. Overall solution is powered by good combination of Azure AI Cognitive services.

Key Benefits:

o Improved accuracy: Reduce the possibility of errors and improve accuracy.

o Reduced costs: Reduce the costs associated with manual data entry.

o Increased efficiency: Speed up the process and make it more efficient.

o Increased security: Increase security by reducing the risk of data breaches.

o Improved customer experience: Improve the customer experience by providing a faster and more accurate service.