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New business intakes come with the hassle of massive amount of paperwork. It requires manual intervention and is extremely time-consuming.
In order to avoid this process from being a cumbersome and inefficient task demanding so much time and resources, SLK has shaped an AI-powered intelligent intake solution that boosts business intake volumes by more than 5X with 98% accuracy in just a few hours!
Data submitted can be structured or unstructured
Geometry and synonyms agnostic NLP / OCR / computer vision-based data extraction from structured and unstructured application forms, including e-mail submissions and attachments
Delayed quotation time due to manual processing
Automated document classification, contextualization, and data extraction to drastically accelerate the business intake process
Issue of Submission Prioritization
Ability to process submissions parallelly and infrastructure scale up based on peak load. Real time dashboard to view submissions processed, fields extracted, Zero touch percentage, field accuracy stats etc.
No distinction of genuine buyers from brokers or exploratory buyers
Availability of Triage portal to validate the extracted fields real time
Talent acquisition for underwriting experts difficult for experienced professional
Combination of AI Extraction engine, APIs, and Triage portal for user validation and data entry automation that allows for straight-through processing with zero human intervention
Key Benefits Delivered
- More than 5X volume boost in intake
- Issue new policy in just few hours
- 98% overall accuracy in extracted fields