Insurance — Document Extraction and Validation for Claims Management

Overview

The purpose of this DAG is to streamline the extraction and validation of information from claims documents using Intelligent Document Processing (IDP) techniques. The workflow begins with the ingestion of various document types, including claim forms, policy documents, and supporting evidence, which are sourced from the document management system and email submissions. Once ingested, the documents undergo a series of processing steps where optical character recognition (OCR) is applied to extra

The purpose of this DAG is to streamline the extraction and validation of information from claims documents using Intelligent Document Processing (IDP) techniques. The workflow begins with the ingestion of various document types, including claim forms, policy documents, and supporting evidence, which are sourced from the document management system and email submissions. Once ingested, the documents undergo a series of processing steps where optical character recognition (OCR) is applied to extract relevant data fields such as claimant information, incident details, and policy numbers. Following data extraction, validation checks are performed to ensure the accuracy and completeness of the extracted information against predefined criteria. This includes cross-referencing extracted data with existing databases to verify consistency and compliance. The validated data is then stored in a centralized document management system, facilitating easy access and retrieval. Additionally, compliance audits are conducted to ensure traceability and adherence to regulatory standards. Key performance indicators (KPIs) monitored throughout this process include the extraction accuracy rate, document processing time, and the number of compliance issues identified. The business value of this DAG lies in its ability to significantly reduce manual processing time, enhance data accuracy, and improve overall claims management efficiency, ultimately leading to better customer satisfaction and reduced operational costs.

Part of the Pricing Optimization solution for the Insurance industry.

Use cases

• Increased operational efficiency through automation
• Enhanced accuracy reduces claim processing errors
• Improved compliance with industry regulations
• Faster claims processing leads to higher customer satisfaction
• Cost savings from reduced manual labor and errors